computer terminal activated by a magnetically encoded bank card, allowing consumers to make deposits, obtain cash from checking or savings accounts, pay bills, transfer money between accounts, and do other routine transactions as they would at a bank teller window. Today bank ATMs do much more than dispense cash in preset increments. Some ATM machines cash checks to the penny, accept envelope-free deposits, and print monthly statements for mortgage, brokerage, or regular banking accounts. Some U.S. banks have programmed their machines to offer ATM customers access to all of the banking services available on the bank's Internet Web site, effectively duplicating the bank's Web site on the ATM display screen.
computerized terminal providing cash dispensing and deposit acceptance banking transactions. ATM terminals have become very popular in many parts of the United States and provide individuals with 24-hour electronic access to their banking accounts without a bank teller.
