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UNIVERSE | SCIENCE | TECHNOLOGY on Instagram: "How an ATM Machine Works – Explained Simply 🏧 When you insert your ATM card, the machine reads the chip or magnetic stripe, which contains encrypted information linked to your bank account. Next, you enter your PIN. This PIN is never stored in the ATM—it’s securely encrypted and sent to your bank’s server for verification. Once verified, the ATM connects to the banking network in real time. When you request cash, the bank checks your account balanc
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AI | TECH | CRYPTO on Instagram: "An ATM (Automated Teller Machine) allows users to perform basic banking transactions without visiting a bank. It works by connecting to the bank's central system through a secure network. When a user inserts their debit or credit card and enters a PIN, the ATM verifies the information with the bank. Once authenticated, the user can withdraw cash, check balances, or transfer funds. The machine dispenses cash using a mechanism that counts and delivers notes accura
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The History Source on Instagram: "Automated Teller Machine revolutionized banking when it emerged in the late 1960s, providing customers with unprecedented, direct access to their accounts. The first ATM was introduced by Barclays in London in 1967 and by 1969 the technology was spreading globally with banks increasingly embracing the ATM. With advances in computer networking and security, they eventually allowed customers to perform transactions beyond just withdrawals and by the 1980s, ATMs ha
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