ATM
Automated Teller Machine (ATM)
An Automated Teller Machine (ATM) is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. Anyone with a credit card or debit card can access most ATMs.
History
The concept of an ATM was first introduced in the 1960s. The first ATM was installed by Barclays Bank in London in 1967. The machine was designed by John Shepherd-Barron and was initially called a "cash machine". The first person to use the machine was Reg Varney, a popular British actor at the time.
Functionality
ATMs are designed to perform a variety of functions, including:
- Cash withdrawals
- Deposits
- Balance inquiries
- Transfers between accounts
ATMs are connected to interbank networks, allowing people to access their accounts from machines not belonging to the bank where they have their account.
Technology
ATMs are equipped with a card reader, keypad, and a display screen. The card reader captures the account information stored on the magnetic stripe or chip of the card. The keypad is used to enter the Personal Identification Number (PIN) and the amount of the transaction. The display screen provides instructions and information to the user.
Security
Security is a major concern for ATM operators. Measures include encryption of data, surveillance cameras, and physical security features such as tamper-evident seals. Users are advised to be cautious of "skimming" devices that can capture card information.
Global Reach
ATMs are found worldwide, with millions of machines in operation. They are particularly prevalent in urban areas but are also found in remote locations, such as the world's highest ATM located in Pakistan.
Impact on Banking
The introduction of ATMs revolutionized the banking industry by providing 24/7 access to cash and banking services. This convenience has led to a decline in the number of bank branches and tellers.
Related pages
See also
Transform your life with W8MD's budget GLP-1 injections from $125.
W8MD offers a medical weight loss program to lose weight in Philadelphia. Our physician-supervised medical weight loss provides:
- Most insurances accepted or discounted self-pay rates. We will obtain insurance prior authorizations if needed.
- Generic GLP1 weight loss injections from $125 for the starting dose.
- Also offer prescription weight loss medications including Phentermine, Qsymia, Diethylpropion, Contrave etc.
NYC weight loss doctor appointments
Start your NYC weight loss journey today at our NYC medical weight loss and Philadelphia medical weight loss clinics.
- Call 718-946-5500 to lose weight in NYC or for medical weight loss in Philadelphia 215-676-2334.
- Tags:NYC medical weight loss, Philadelphia lose weight Zepbound NYC, Budget GLP1 weight loss injections, Wegovy Philadelphia, Wegovy NYC, Philadelphia medical weight loss, Brookly weight loss and Wegovy NYC
|
WikiMD's Wellness Encyclopedia |
| Let Food Be Thy Medicine Medicine Thy Food - Hippocrates |
Medical Disclaimer: WikiMD is not a substitute for professional medical advice. The information on WikiMD is provided as an information resource only, may be incorrect, outdated or misleading, and is not to be used or relied on for any diagnostic or treatment purposes. Please consult your health care provider before making any healthcare decisions or for guidance about a specific medical condition. WikiMD expressly disclaims responsibility, and shall have no liability, for any damages, loss, injury, or liability whatsoever suffered as a result of your reliance on the information contained in this site. By visiting this site you agree to the foregoing terms and conditions, which may from time to time be changed or supplemented by WikiMD. If you do not agree to the foregoing terms and conditions, you should not enter or use this site. See full disclaimer.
Credits:Most images are courtesy of Wikimedia commons, and templates, categories Wikipedia, licensed under CC BY SA or similar.
Contributors: Prab R. Tumpati, MD
