BizTerm Definition
Automated teller machine (ATM)
Full Definition

1. An ISO term. A self-service system offering a variety of card transaction possibilities. 2. Electronic equipment capable of performing transactions. Is also known by the acronym ATM. These are customer self-service machines used to provide a range of domestic transaction and information services such as: 1. cash withdrawals and deposits 2. balance enquiries 3. account officer messages d account funds transfers, often used in networks owned and operated by a company formed as a joint venture with a number of other financial institutions. By early 1991 there were over 300,000 ATMs installed world-wide.


Previous Biz Term Next Biz Term