automated teller machine

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automated teller machine

(ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip or computer chip. The strip contains an identification code that is transmitted to the bank's central computer by modemmodem
[modulator/demodulator], an external device or internal electronic circuitry used to transmit and receive digital data over a communications line normally used for analog signals.
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. To prevent unauthorized transactions, a personal identification number (PIN) must also be entered by the user using a keypad. For additional security, transactions made with a computer chip also create a unique code for each transaction; this helps prevent information stolen during the transaction from being reused. Once the transaction is authorized, the computer permits the ATM to complete the transaction; most machines can dispense cash, accept deposits, transfer funds, and provide information on account balances. Transactions at ATMs may also now be done using smartphones and a number of different methods, or using palm- or fingerprints for personal identification. Banks have formed cooperative, nationwide networks so that a customer of one bank can use an ATM of another for cash access; by 2010 there were more than 420,000 ATMs across the United States. The internationalization of banking networks also permits ATM cards to be used to make transactions abroad. Some ATMs will also accept credit cardscredit card,
device used to obtain consumer credit at the time of purchasing an article or service. Credit cards may be issued by a business, such as a department store or an oil company, to make it easier for consumers to buy their products.
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 for cash advances. The first ATM was installed in 1969 by Chemical Bank at its branch in Rockville Centre, N.Y. A customer using a coded card was dispensed a package containing a set sum of money.
References in periodicals archive ?
Any suspicious activity around ATM machines should be reported immediately.
49 ATM machines for each 1,000 people in Pakistan as compared to 290 machines in South Korea for each 1,000 people, 173 machines in US, 42.
His latest conviction relates to an incident in which he tricked two Indian men withdrawing money at an ATM machine in Manama and Nuwaidrat in January 2013 and stole BD360 in total.
2 million from ATM machines in jurisdictions of two police stations, panic has spread amongst bank administration and police.
In a written statement issued here he said local people suffered hard in buying things for Eid due to disorder of ATM machines.
Prosecutors claim the men inserted a specially designed device into ATM machines, which read credit and debit card details, before a customer withdrew cash.
The court indicted him of training two other accomplices, giving them money to buy equipment and supplying them with mobile phones to manufacture the explosives which were used in blowing up the ATM machines.
Saeed added: "Banks must always scan the ATM machines to see if there are any suspicious things on them or around them, and security guards must keep their eyes open for suspicious activity.
The court heard they attached devices to ATM machines to trap cards and record pin numbers - even putting other ATMs in the area out of action so people had to use the doctored machines.
Part of his job included topping up ATM machines when they ran low.
Every bank has specialised mechanical technicians in charge of installing, diagnosing, and fixing ATM machines.
Summary: Morocco's interior ministry on Monday said it has dismantled a "terrorist cell" consisting of three individuals who were plotting attacks against government buildings and ATM machines.