automated teller machine

(redirected from Cash dispensers)
Also found in: Dictionary, Thesaurus, Financial.
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.
..... Click the link for more information.
. 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.
..... Click the link for more information.
 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 ?
There are hundreds of thousands of public digital terminals in the EU, including transport ticket vending machines and at least 425,000 cash dispensers.
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.
They added two of the 10 cash dispensers there had been tampered with and 19.
The card will enable them to withdraw up to pounds 250 a day through the 30,000-strong Link cash dispenser network.
They use the same type of approach each time and always ensure that the unlucky punter visits a cash dispenser on the way," he added.
Over the next few years it will be possible to obtain cinema, theatre and sports tickets from bank cash dispensers.
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.
The company said these cash dispensers feature a range of advanced software-enabled digital functions, including the ability to authenticate and transact without the use of a traditional card reader or PIN pad.
Diebold will deploy 210 ATMs to UniCredit's fleet this year, including 160 cash dispensers and 42 cash recycling AT The company is forecasted to install and implement an additional 380 ATMs in both 2014 and 2015, including 130 cash dispensers and 250 cash recycling ATMs each year.
Birkby is set to benefit from a major bank's new policy to put cash dispensers in the local community.
HSBC customers were unable to withdraw money at many of the bank's cash dispensers or carry out transactions on its website.