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 ?
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.
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.
Police are reminding people to be extra vigilant when using cash dispensers and to immediately report any changes to the appearance of the machine or any unusual behaviour of people near by, to the bank or to the business where the cash machine is installed.
HSBC customers were unable to withdraw money at many of the bank's cash dispensers or carry out transactions on its website.
Two out of every five cash dispensers in the UK now charge - taking a total of pounds 60m from us each year.
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.
A GANG used a stolen fork-lift truck yesterday in a bid to steal a cash dispenser containing pounds 90,000.
Holidaymakers at Carlingford in County Louth have to drive to neighbouring towns to get money when their funds run low as there is no cash dispenser in the village.
The ATM21S can hold up to 13,000 banknotes, offers high operability with the industry's top-class processing speed, while maintaining the same width as a general cash dispenser (470mm), which makes it easy to replace.
The Opteva(R) 520 lobby cash dispenser, one of Diebold's most flexible, feature-rich and compact ATMs, will help Union Bank expand its ATM network across the country and improve branch efficiency.
The guard had just got out of his van and was about to fill up a cash dispenser just inside the Yorkshire Building Society on Northgate in Cleckheaton when the thieves struck at 7.
He said the problems were widespread, but did not affect every cash dispenser or card payment outlet.