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automated teller machine (ATM)

An automated teller machine(ATM) is a point of service( PoS) for money transactions and banking operations. It is an electronic bank branch through which the bank customer can perform simple, account-related banking transactions.

ATMs are stationary self-service terminals installed for banking transactions without a bank employee providing advice or making a decision. The bank customer authenticates himself with his chip card, EC card, credit card or cash card and his ID number and can then withdraw cash, make transfers or print out account statements.

ATMs, photo: goethegalerie.de

ATMs, photo: goethegalerie.de

ATMs or automated teller machines(ATMs) are firmly walled in or reinforced with the surrounding masonry for security reasons. The central component of an ATM is a safe with several cash cassettes, usually four cash cassettes, in which banknotes for different amounts are stored.

To detect tampering or damage to the ATM, they are equipped with video surveillance. In addition to the safe with the withdrawal module, ATMs consist of a computer, the card reader, a display and an Encrypting PINPad( EPP), which encrypts the keypad and ensures secure transmission of the personal identification number ( PIN). The display can be a touch screen on which certain output amounts and functions can be accessed with soft keys by touching the screen surface. Such a touch screen is also used to interact with the bank customer.

When the EC card is inserted, the ATM connects to the bank computer and verifies the bank customer's solidity and overdraft amounts. Only after the verification of the customer's data and PIN number, the withdrawal of the amount is carried out by compiling the withdrawal amount from the different cash boxes.

If cash accounts are attacked by hackers, this is known as jackpotting.

Informations:
Englisch: automated teller machine - ATM
Updated at: 05.01.2022
#Words: 286
Links: asynchronous transfer mode (ATM), service, proof of stake (PoS), branch (BR), account
Translations: DE
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