GTBank ATM (Automatic Teller Machine), Parts, Importance, how it works

GTBank ATM (Automatic Teller Machine)

What is ATM?

The Automatic Teller Machine available in GTBanks offers a wide scope of network which offers customers an available and steady access to their respective cash 24 hours every day. The ATM allows customers and non-customers to carry out their daily transactions making steady use of their debit cards.

  • Hotlist your card
  • Printing of mini account statements
  • Transfer of funds
  • Mobile phone airtime vending
  • Bills payment
  • Balance inquiries
  • Receive Western Union funds
  • Cash withdrawals
  • Buy airtime credits

Click here to view our ATM network

How does GTBank ATM Work Internally?

The ATM is a portable terminal device with two input and four output devices. The ATM becomes functional by connecting to a host processor with instant communication like other terminal devices. These host processor is somewhat comparable to an Instant service provider (ISP) because it is a route which makes all ATM networks available to the operator (someone using the ATM machine to cash out).

Study has it that almost all host processors can support either leased-line or dial-up machines. The host processor which communicates with the ATM is connected directly to the leased-line, through a four-wire, end-to-end. A normal phone line can be used as a means of connection between the Dial-up ATMs and its host processor. This is achieved by using a modem and a toll-free number, or through an internet service provider using a trunk access number dialed by modem.

The leased-line ATMs are most preferable hence it covers very high-volume locations because  of their thru-putcapability, and Dial-up ATMs are also preferable only for retail merchant locations where cost is a greater factor compared to thru-put. The cost of half of leased-line machine is greater than the cost for a dial-up machine. The cost of operating for dial-up machine are only only a fraction of the costs for leased-line on a monthly assessment.

The bank owns the host processor or may be owned by an independent service provider. Most host processors owned by banks only supports ATMs owned by banks, but the merchant owned processors is only supported by independent host processors.

Parts of GTBank ATM (Automatic Teller Machine)

  • Speaker– The sound produced by the ATM is heard through these part and gives the operator high confidence that the machine is functional.
  • Card reader– These captures the account information is encrypted on the metallic stripe right on the ATM debit or credit card. With the captured information, the host processor uses the available information to make passage of the transaction to the card holder’s bank.
  • Cash dispenser– This is practically known as the heart of an ATM because it’s the route cash are dispensed to the operator.
  • Display screen– The display screen pops out directions and guidelines to be followed by the card holder to enable the holder operate the machine without much stress. The leased-line machine only use a monochrome or color CRT (cathode ray tube) display but this is different when it comes to dial-up machines which uses monochrome or color LCD.
  • Receipt printer–The receipt printer gives information on the details of the available balance and the details of the transactions.
  • Keypad– The keypad allows the cardholder to make specific choice on the kind of transaction he/she needs. (Balance inquiry, cash withdrawal, transfer of funds etc.) Alongside the exact amount required. More so, the bank requires the operator’s personal identification number (PIN) for verification.

Limitations to GTBank ATM (Automatic Teller Machine)

  • The ATM can break down or run out of cash.
  • Risk of robbery when you leave the ATM.
  • ATM may be off-line (system down).
  • You may forget your PIN number Fees charged to use ATMs of other banks can become expensive.

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