Automatic Teller Machines

    We are amidst of peak of Digital revolution, and almost everybody heavily depended on it, as it has taken liabilities of human beings with accuracy not only at work places’ but also in the field of entertainment. Digital innovations which change life style of human beings are-

• Computer
• Mobile Phone
• Digital Camera
• Automatic Teller Machine
• Television Broadcast & Receiver
• Video Games
• Movies

above coded all the innovations not only have assess but also used by almost everybody across the globe because of its affordability. One of such widely used digital service by human beings is Automatic Teller Machine better known as ATM., it is vending machine used for withdrawal of cash with the help of a card, which inserting in the machine and after pressing some keys card holder can withdraw money instantly as per his/ her need, Banks in India charge very nominal fees on yearly basis from card holders and cards are available in two types of service to costumers –

1. Debit Card – Money deposited in the bank by costumers, then with the use of Debit Card he/she can withdraw money from any ATM in the country whether it is his/her bank or another bank, beauty of this device is that it is available for costumers 24 x 7, and country like India where in a year holidays are countless, and banks can close for any below mention reasons, it leave costumers stranded and scratching his/her head but only when ATM was not in custom to use –

• Festival
• Gazetted Holiday
• Strike
• Negotiable Holiday

2. Credit Card – With use of Credit Card, card holders can withdraw money of his/her bank and can do shopping, banks issue credit card with limits depending upon costumers income, and later on within specific period if costumer deposited money then there is no interest costumers have to pay, but if cross the time then they have to deposit used money along with interest rate. Advantage of carrying plastic money in both form ( Debit or Credit ) in India are that whenever wherever one need money, its available to them, no worry of Banks timings, long queue, loosing the money, robbed and without any type of additional burden on mind.
Inventor of ATM – Scotland resident Mr. John Shepherd Barron was born on 23rd June, 1925 in shillong India and recently on 15th May, 2010 he died. He got motivation to invent vending machine for withdrawal of money after watching the work of chocolate vending machine and in the beginning ATM was known as D.A.C.S.(De la Rue Automatic Cash System). Honour of getting World’s first ATM at their premises it was Barclay Bank, Enfield of North London. Some of the interesting facts related to ATM are –

• First ATM in India started by Hong Kong & Shanghai Banking Corporation (HSBC) in the year 1987.
• On 12 August, 2003 UTI set up ATM at maximum height I the country, it is 13,200 feet high from sea level.
• Approximately 2 million ATM machines are working in the world.
• World’s first floating ATM was started by State Bank of India (S.B.I.) in Kerla.
• Two third cash withdrawal on daily basis from ATM and figure is as per rough estimates is 172 billion pounds.

Automatic Teller Machines taken headaches of human beings at both ends whether it is Banks or costumers and in a jiffy without waiting and wasting time, standing in long queue one can withdraw money at his/her convenience and that’s also 24 x 7,thanks to Late John Shepherd Barron, as he is responsible for giving us facility of ATM.