1.0 Introduction
1.1 Background Of The Study
The introduction of an automated teller machine came into lime light in the banking sector some years ago in Nigeria, as a result of the need to satisfy the customers transaction within and outside the banking sector and to proffer solution to the malicious act that was associated with rubbers stealing money from people when ever they are travelling for one business transaction or the other due to the large some of money they take along. An automatic teller machine or ATM allows a bank customer to conduct their banking transactions from almost every other ATM machine in the world. Before now, customers where withdrawing money from the bank via the counter method which created a lot of pressure on the cashiers due to the number of people to satisfy each day, due to this single act customers where complaining because some of them end up going home without any money and at the same time they spend all their time in the bank. In other to stop this re − occurrence in the banks, it was important to introduce this system so as to alleviate the problem. An automated teller machine (ATM), also known as a cash point (which is a trademark of Lloyds TSB), cash machine is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public space without the need for a cashier, human clerk or bank teller.
1.2 Statement Of The Problem
The reason why this method was embarked upon was due to the problems that where associated with the conventional method of withdrawing money across the counter that makes customers not to be comfortable and unsatisfied when ever they go to the bank to make withdrawal. Another problem that prompts the introduction of this new method of withdrawing money was as a result of what people face when they are travelling with huge amount of money whereby rubbers attack them on the way to collect the money from them.
1.3 Objective Of The Study
The objective of the system is to
- For easy access to money from any outlet even without going to the bank which the customer is banking with.
- To reduce stress from withdrawing money
1.4 Significance Of The Study
The main advantage of using an ATM is the fact that you can have access to the cash in your bank account whenever you need it. If, for instance, you are at a store that does not take checks or credit cards but it has an ATM, you can withdraw the money for your purchase. This also means you can travel anywhere without cash. If the location has an ATM and you have your ATM card, you can access your money instantly.
Another significance of ATM machines is that it has taken away much of the job of the local banker. Now, customers can deposit pay checks and withdraw cash freely at any time; banking has become private and independent.
1.5 Scope Of The Study
The scope of this study is to design an automated teller machine that is capable to processing customers account as well as enabling them to make withdrawal using first bank PLC. ATM Machine. The main aim is to perform a full computerization of an automated teller machine which can be easily accessible by customers that are banking with any of the indigenous banks in Nigeria
1.6 Definition Of Terms
Certain concepts need to be defined for clarity of terms as used in this work.
They are as follows:
Account:
A single account in a bank against which transactions can be applied Accounts may be of various types with at least checking and savings_ A customer can hold more than one account
ATM:
A station that allows customers to enter their own transactions using cash cards as identicationThe ATM interacts with the customer to gather transaction information sends the transaction information to the central computer for validation and processing and dispenses cash to the customer We assume that an ATM need not operate independently of the network
Bank:
A financial institution that holds accounts for customers and that issues cash cards authorizing access to accounts over the ATM network.
Bank Computer:
The computer owned by a bank that interfaces with the ATM network and the banks own cashier stations. A bank may actually have its own internal network of computers to process account.
Electronic Banking:
Electronic banking, also known as electronic funds transfer (EFT), is simply the use of electronic means to transfer funds directly from one account to another, rather than by check or cash. You can use electronic funds transfer
Customer:
A person, company, or other entity which buys goods and services produced by another person, company, or other entity.
ATM Card:
An ATM card (also known as a bank card, client card, key card or cash card) is a card issued by a bank, credit union or building society that can be used at an ATM for deposits, withdrawals, account information, and other types of transactions, often through interbank networks.
Debit Card:
An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services. This removes the need for bank clients to go to the bank to remove cash from their account as they can now just go to an ATM or pay electronically at merchant locations.
