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 ?
This will allow customers to send money to relatives and others who do not have a cash dispenser card.
framework contract for the delivery of cash dispenser systems - delivery of cash machine systems, - construction and integration of the cash machine systems, - care and support services, - support during the commissioning of the machines, - training, - customizing and programming services (as required), - consulting services in the context of the installation of cash machines.
It is a far cry from the single cash dispenser that opened on June 27, 1967 outside a branch of Barclays bank in Enfield, north London.
It is a far cry from the single cash dispenser that opened on June 27 1967 outside a branch of Barclays bank in Enfield, north London.
1967 - Britain's first cash dispenser opened by Barclay's bank in Enfield
Thieves who used a blowtorch to cut their way into a cash dispenser
Cash dispenser group Moneybox has paid pounds 1million to run ATMs in catering firm Compass's outlets, which include Whistlestop, Harry Ramsden's, Upper Crust and Caffe Ritazza.
Eventually, the hole-in-the-wall gang was forced to give up, but the damage caused to the building put the cash dispenser out of action.
"They use the same type of approach each time and always ensure that the unlucky punter visits a cash dispenser on the way," he added.
They used sledge hammers to get through the front door of the Nationwide office in the High Street just before 8am yesterday The three robbers, wearing dark balaclavas and hooded tops, tried to get into a cash dispenser which had just been filled by security officers.
They are usually I in close proximity to a cash dispenser. Perhaps the owners, having purchased such expensive cars, are in no position to afford 20p to use a car park.
The man had just withdrawn money at 7am on Friday from the automated cash dispenser and was placing it in his wallet when a man standing behind him reached over and attempted to snatch it.