Cash dispenser (ATM)

Updated: Aug 20, 2021

A generic term applied to the individually labelled schemes operated by banks and some building societies whereby a customer can obtain cash from his account without needing to go into the bank (e.g. after hours). The normal method is to supply a customer with a coded plastic card which, when inserted into the particular machine outside the bank, will, as the result of the customer punching certain digits, cause specific sums in notes to be delivered and, at the same time, retain a record that will automatically result in the ustomer’s account being charged with the amount. These dispensers should not be confused with ‘change machines’, which merely convert one coin into a number of coins of smaller denomination but of the same total value.

Other refernce to a cash machine, is ATM or automated teller machine.

Reference: The Penguin Business Dictionary, 3rd edt.

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