automated teller machine

(redirected from Cash point)
Also found in: Dictionary, Thesaurus, Financial, Acronyms, Wikipedia.

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 ?
THIEVES attacking cash points will be sprayed with an invisible gel that stays on their skin for five years in a nationwide crackdown on ATM crime.
Dot Pearce, 71, a retired book keeper, of Fairwater, Cardiff, was at Lloyds TSB's cash point on Kingsway, in Cardiff city centre yesterday, when she was briefly distracted by a young man.
We looked at all the players and chose to go with Cash Point Machines as they have a very good understanding of members' needs.
Why couldn't they go to the Tesco cash point with parking spaces?
Haymarket Metro Station's Halifax cash point offers PS5 notes.
The thieves targeted an 83-year-old woman and her husband as they used a cash point in Union Street and followed them into a Savers Store at around 10.
Almost every aspect of our modern life, from the television and hi-fi to the computers in your washing machine, microwave and mobile phones, from the cash point in the high street to satellite communications and from video games to body scanners, is made possible by electronics.
The guard, in his 40s, was fighting for his life last night after being ambushed by thieves as he carried money to a Tesco cash point.
Hundreds of cash point customers at the station may have had their personal details stolen last week through a fake card reader installed at one of the station's machines.
Thieves managed to rip out a cash point from the wall of a Staffordshire shop using a stolen JCB digger.
The Barclays cash point on High Street outstripped its nearest rival by more than pounds 100, 000 by Christmas Eve, bank bosses said.
First Direct have asked 110,000 cash point users to help stamp out fraud by making just one big withdrawal a week.