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 ?
Global Automated Teller Machines Market 2012: Exciting Opportunities from Asia, Latin America, and CEE Countries to Drive ATM Market Growth
Muto also said the ministry has been asking banks and railway companies to modify their automated teller machines and ticket vending machines to accept the notes.
Market Analytics III-38Table 48: European Recent Past, Current & Future Analysisfor Automated Teller Machines by Geographic Region/Country -France, Germany, Italy, UK, Spain, Russia, and Rest ofEurope Markets Independently Analyzed with Installed Base in'000 Units for Years 2013 through 2020 (includescorresponding Graph/Chart) III-38
The proposed locations of the automated teller machines are on the drawing located in Section 11, Exhibit A of this RFP.
The revisions implement amendments to the act contained in the Gramm-Leach-Bliley Act that require the disclosure of certain fees associated with automated teller machine (ATM) transactions.
12 /PRNewswire/ -- NCR Corporation (NYSE: NCR), the world leader in automated teller machines (ATMs), today released its Fourth Generation Self-Service Systems featuring ATMs that are three times more reliable than existing NCR systems.
KAL is the world-leading provider of open software for Automated Teller Machines (ATMs) and self-service systems.
The bank operates a network of full-service branch offices, automated teller machines and home lending centers in southern Michigan, northern Indiana and northwestern Ohio.
Nasdaq: SSFT), a global leader in speech and imaging solutions, and Diebold, Incorporated (NYSE: DBD), a global leader in providing integrated self-service and security solutions and an innovator in ensuring accessibility at automated teller machines, have entered into a new relationship that will provide speech-enabled ATMs across the United States.
To better serve our customers, Shawmut is enhancing its automated teller machines to address the needs of Spanish-speaking customers and customers who are visually impaired.
Meridian operates 232 banking branches and more than 270 automated teller machines in 16 Pennsylvania counties, two New Jersey counties and the state of Delaware.
Founded in 1986, Bantek is a leading national provider of cash-management and maintenance services for automated teller machines and bank-system desktop computers.

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