Automated Teller Machine - ATM

Automated Teller Machine - ATM
An electronic banking outlet, which allows customers to complete basic transactions without the aid of a branch representative or teller.

There are two primary types of automated teller machines, or ATMs. The basic units allow the customer to only withdraw cash and receive a report of the account's balance. The more complex machines will accept deposits, facilitate credit card payments and report account information. To access the advanced features of the complex units, you will usually need to be a member of the bank that operates the machine.

ATMs are scattered throughout cities, allowing customers easier access to their accounts. Anyone with a debit or credit card will be able to access most ATMs. Using a machine operated by your bank is usually free, but accessing funds through a unit owned by a competing bank will usually incur a small fee.


Investment dictionary. . 2012.

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  • Automated Teller Machine — ( ATM) A computer terminal for user initiated banking transactions. American Banker Glossary * * * automated teller machine automated teller machine ➔ ATM * * * automated teller machine UK US noun [C] ► …   Financial and business terms

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  • automated-teller machine — /aw teuh may tid tel euhr/ an electronic banking machine that dispenses cash, accepts deposits, and performs other services when a customer inserts a plastic card and pushes the proper coded buttons. Abbr.: ATM Also called automated teller,… …   Useful english dictionary

  • automated teller machine — noun A device that provides bank customers with cash withdrawal and other services without the need for a bank teller. Syn: ABM, ATM, automatic teller machine, autoteller, bank machine, cash machine, cashpoint, cash dispenser …   Wiktionary

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