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.
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References in periodicals archive ?
On Friday, he once again had managed to break into an ATM booth in Rahim Yar Khan and was trying to break open the ATM machine when he was apprehended by the police.
First attack on ATM machine was reported in Talas region on 12 Dec 2018 when the unknown stole more than 801,000 soms from Bakai-Bank's ATM.
ICT expert Pervez Iftikhar said people can avoid such robberies through self-security measures, including making sure that ATM machines they are using are not attached with skimming devices.
A constituent had complained that residents in the area had continued to witness situations where policemen got people arrested and forcefully demanded money and should they fail to produce such, they would force and follow those arrested to the ATM machine to get such money withdrawn and given to them.
The news has been popular in many quarters citing that it is a natural progression that crypto ATM machines are now becoming something we are seeing more of.
"The gang, which is based abroad, stole private details of bank customers who withdrew cash from ATM machines across the world and uploaded the information to forged credit cards.
Binyamen said that public can get milk after putting cash into the ATM machine.
Interactive voice response technology that allows a computer to interact with human through the use of some pre-recorded multilingual voice used to operate an ATM machines very effectively.
LAST week Santander announced that a number of its ATM machines had been compromised by fraudsters who had used them to steal consumers' personal details and indeed cash.
JEDDAH: The Saudi Arabian Monetary Agency (SAMA) is calling on local banks to introduce new methods and technologies to monitor the performance and security of their ATM machines, urging them to maintain and update them regularly.
"Bank staff in the area have also been briefed to be extra vigilant and increased checks on ATM machines are being carried out.