Electronic funds transfer is the transfer of money electronically through telephone and network. In this process, the amount of money is reconciled and modernized only through the account without exchanging the actual money between the accounts of different branches of the bank through electronic means. Banks use Automatic Teller Terminals or Machines (ATMs) for convenience and security in transactions. Bank cards with magnetic ink stripes are also used to perform bank transactions with data. Data is entered through a short key pad and inserted into the bank card terminal. Miniature video displays and printers are used for return signals. This card can be inputted in the bank or computer and can be withdrawn at any time of the day or night. The computer verifies the customer's signature, requiring no staff.
Transmission media: When a PC communicates or wants to communicate with another PC, it has to take the help of some transmission media. The most commonly used media in the network are twisted pair cable, coaxial cable, fiber optic cable. Nowadays, the use of optical fiber is increasing greatly. Radio wave, microwave and infrared technologies are prominent among wireless media. Among these mediums, optical fiber has the highest data transfer speed. The type of medium used in a network depends on the type and location of that network. The connection system for exchanging information between the sender and the remote receiving end is called a channel. The means or methods used to implement the channel are called media. such as-- (i) Cable or wire. (ii) Common telephone lines. (ii) Radio waves. (iv) Microwave. (v) Geo-satellite systems etc. Cable or Wire: Cable is an important medium in data communication. Cables are generally used for data transfer over short range networking such as LAN...
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