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 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 ?
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.
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One Sunday Mail reader withdrew pounds 100 last Saturday from his Royal Bank account at a Clydesdale Bank machine in Tillicoultry, Clackmannanshire, only to find out on Monday the same sum had been added to his account rather than debited.
A CONVICTED killer who robbed a bank machine was snared after handing over some of the stolen notes for a luxury holiday.
| Bank Machine Ltd, installation of one illuminated fascia sign, Milco Supa Saver, 604 Huddersfield Road, Ravensthorpe, Dewsbur y.
The pensioner, who was shaken but unhurt, was made to drive around Birmingham for several hours until he was forced to withdraw cash from a bank machine in Kings Heath High Street.
I AM thrilled that Bank Machine Ltd have installed the first free-to-use cash machine in Anfield, where most of the cash machines charge for withdrawals.
The attacker forced the man to go with him to a bank machine on Dunlo Street, where he tried to force the victim to withdraw cash.
CONMEN who used a bank machine trick device in a Northumberland town have drawn a blank - thanks to the swift action of local people.
In November last year raiders armed with knives and batons held up guards making a cash delivery to a bank machine, then went on the run.