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 ?
ATM Introduction: Automated Teller Machine or ATM is a two way computerized and communication device that provides automated financial services.
M-2019-020 lifting the moratorium on automated teller machine (ATM) fees.
Two Chinese nationals were arrested bypolicefor placing a skimming device on an automated teller machine (ATM) in Karachi's Zainab Market on Wednesday.Sources said that when onlookers came to know of their suspicious activities, they informed the police.
A man, allegedly under the influence of alcohol, went berserk and smashed the screen of an automated teller machine (ATM) at a bank in Jalan Pahlawan yesterday, after the ATM failed to dispense cash.
Tenders are invited for Automated Teller Machine Services
ISLAMABAD -- Commercial banks have been directed to ensure availability of Automated Teller Machine (ATM) services round the clock and also that cash is dispensable through machines throughout the Eid Holidays.
The headquarters of a major SEG is host for the fourth personal automated teller machine being deployed by the $1.1 billion, 113,000-member American Heritage Federal Credit Union in Philadelphia.
ASAS adds an enhanced level of security to ISA Server systems, giving users the security of two-factor authentication in a solution that's as intuitive and easy to use as an automated teller machine.
The Federal Reserve Board published on March 1, 2001, a final rule amending Regulation E (Electronic Fund Transfers) to implement provisions of the Gramm-Leach-Bliley (GLB) Act requiring disclosure of automated teller machine (ATM) fees.
Two security guards and a client withdrawing cash from the bank's automated teller machine were slightly injured and rushed to St.
Summary: New Delhi [India], Apr 13 (ANI): Delhi Police on Saturday claimed to have busted a gang of automated teller machine (ATM) robbers.
BAHAWALNAGAR -- The B-Division police on Sunday took into custody a bank manager during investigation into theft of cash from a private bank's automated teller machine (ATM).

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