automated teller machine

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Related to Cash dispensers: automated teller machine, ATM Machine

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 ?
16, 2011 /PRNewswire/ -- Itautec, a $1 billion Brazilian electronics equipment manufacturer specializing in ATMs and kiosks, announced today it is beginning to sell its roster of Adattis ATMs, cash dispensers and kiosks to U.
She had just withdrawn money from a cash dispenser, but within minutes a thief had opened her handbag and stolen her purse.
An industry source said this type of cash dispenser theft was relatively new.
A company spokesman said engineers had been able to bring parts of the cash dispenser network back into service.
Cash dispenser group Moneybox has paid pounds 1million to run ATMs in catering firm Compass's outlets, which include Whistlestop, Harry Ramsden's, Upper Crust and Caffe Ritazza.
Police said a 26-year-old security guard was found dead early Tuesday in Sayama, Saitama Prefecture, and they believe a key to a nearby bank carried by the guard was used to steal money from cash dispensers.
Following recent attacks in East Sussex, where ATMs were stolen, Hendry called for the companies to equip all cash dispensers with dye cartridges as a preventive measure.
The introduction of cash card access to a more sophisticated network of cash dispensers is part of our strategy to offer customers a variety of ways to access their money through an increasing number of channels.
In particular they are looking at footage of cash dispensers and pub areas.
The most up-to-date and authoritative primary data on current deployment of ATMs, cash dispensers and related cash handling equipment and services in the retail payments industry in the Asia Pacific region.
Pendum LLC is the nation's largest independent provider of cash automation solutions, including sales and service of ATMs, kiosks, cash dispensers and recyclers, and armored cash transport.
Birkby is set to benefit from a major bank's new policy to put cash dispensers in the local community.