automated teller machine

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Related to Bank machine: ATMS

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. 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. The computer then permits the ATM to complete the transaction; most machines can dispense cash, accept deposits, transfer funds, and provide information on account balances. Banks have formed cooperative, nationwide networks so that a customer of one bank can use an ATM of another for cash access; by 1997 there were more than 160,000 ATMs across the United States. 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 ?
Detectives probing a blitz on bank machines in Scotland are speaking to colleagues south of the Border who are hunting ringleaders of a gang who have stolen PS1.
CHARITIES in the North East are to benefit from the launch of a new ATM giving scheme at more than 4,000 bank machines.
A NUMBER of charities in the North East are to benefit from the launch of a new ATM giving scheme at more than 4,000 bank machines.
The initiative is being rolled out through Link, the UK cash machine network, but the initial phase includes only the 12,000 machines owned by Bank Machine and RBS.
Then followed a period of "significant investment" by Bank Machine to convert or install hundreds more [pounds sterling]5- only machines.
Bank Machine became the first cash machine operator to install a pounds 5 note-only machine in London two years ago, getting an additional 100,000 fivers into circulation every month from just two machines.
Cashpoints from national in-store provider Bank Machine have gone into a total of 21 McColl's stores, all offering [pounds sterling]5 notes.
A CONWOMAN was caught out when she accidentally filmed herself during a bank machine scam.
People using the Bank Machine hole-in-the-walls will be able to opt to have their prompts changed.
The long-term psychological impact of the recent financial crisis will mean people will continue to rely on the tangibility of notes and coins, according to the study which was carried out for ATM operator Bank Machine.
BERLIN - A bank machine and a safe were missing yesterday morning when workers got ready to open the Gulf gas station on Coolidge Street, police said.
How can I tell my best friend that I'm not her personal bank machine without hurting her feelings?