ICT and Banks Banks use mainframe computers to maintain customer accounts. They store a record of...
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Transcript of ICT and Banks Banks use mainframe computers to maintain customer accounts. They store a record of...
ICT and Banks• Banks use mainframe computers to maintain customer accounts.
• They store a record of each customer’s withdrawals and deposits.
• Each bank mainframe is used to operate a network of ATMs.
ATMTypically, an ATM can be used for:
• Withdraw Cash;
• Check an account balance;
• Order/print a statement
• Transfer & payment• ATM = Automated Teller Machines
ATMWhat are the parts of an ATM?
Magnetic Stripe Reader
Screen to display menu
options
Keyboard
Printer
There will also be a slot somewhere on the
machine to dispense the cash.
ATMUsing an ATM:
• Insert a debit or credit card into the magnetic stripe reader.
• It will read an account number from the stripe on the back.
• ATM will then ask customer to use their PIN (Personal Identification Number) for security.
• Customer asked to select an option from a menu on the screen.
• To withdraw cash, the customer selects the relevant options and the request is sent to the bank’s mainframe where it is approved and updated.
ATMAdvantages of using an ATM:
• Banks can keep their operating costs down as fewer employees are needed to work at the branches.
• Customers have 24 hour access to their accounts seven days a week.
• There’s no need to carry large amounts of cash around as the large number of ATMs means that it is readily available.
Next time your parent/guardian is going to the ‘Cash Machine’ ask if you
can go along and watch the process!
Types of CardsThere are 2 types of card you will need to be familiar with:
• A Debit Card;
• A Credit Card;
Types of CardsA Debit Card:
• This card allows the user to transfer money from their bank account to the vendor’s bank account.
• The money for the purchase of the item is taken from the customer’s bank account after 1 or 2 days.
• The customer MUST have money in the account to cover the cost of the item.
Types of CardsA Credit Card:
• This card allows the customer to purchase an item even if they do not have enough funds in their account.
• The customer is then sent a bill each month totalling the cost of the items bought in that period.
• The bill will contain an amount added for ‘interest.’
• The ‘interest rate’ will be determined by the Credit Card provider.
Chip and PINWhat is Chip and PIN?
• Found on debit and credit cards.
• Customer places chip into a card reader and is asked to input their PIN (Personal Identity Number).
• The PIN is the same one that is used in the ATM.
• It is a security measure to stop people forging signatures and using a card fraudulently.