FORMS OF PAYMENT

CONTENT

1. Automated Teller Machine (ATM)
2. Western Union Money Transfer
3. Moneygram
4. The Computer and the Bank
5. E-banking

The Automated Teller Machine (ATM)

The automated teller machine (ATM) or automated banking machine is a computerised telecommunication device that provides clients of financial institutions with access to financial services in a public area without the need of seeing a cashier, human clerk or bank teller. With most ATMs, the customer is identified using a plastic smart card that incorporates a chip containing a unique card number and some security data. Authorisation to use the service is provided by the customer entering personal identification number (pin).

Using an ATM a customer can access their bank accounts in order to;

1. Make cash withdrawals.
2. Make credit cash advances.
3. Check their account balances.
4. Request an account statement.
5. Purchase prepaid cell phone credit.
6. Obtain local currency when abroad.

Western Union Money Transfer

The Western Union Company is a financial services and communication company based in the United States.