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A card machine reads a plastic card with information stored on a digital chip and magnetic strip. Information stored on the card includes bank account details, routing numbers and identity information. ATM machines use this information to securely carry out cash transactions. They deposit money from a person’s bank account and deliver the amount in cash, there and then.

The Automated Teller Machine (ATM), also known as the Automatic Banking Machine (ABM) is now the accepted automated method to get cash instantly. For security identification purposes customers enter their bank card, followed by their unique security pin to withdraw funds from their own finances.

Believe it or not, but the first automated money withdrawl was over 40 years ago. Luther George Simijan designed and created the first ATM machine. The first machines were not accepted by customers. Europe followed closely by launching their own cash machines in the 1960s. The first British machine appeared in London at Barclays bank.

ATM machines are wide spread and located near to banks, shopping centres, restaurants, super markets, residential areas and other convenient spaces.

Security experts are looking at methods to prevent fraud, some have suggested that future machines should include iris and facial recognition technology. Most machines currently detect any foreign objects – so real cards must be used to have access to instant cash.

Other interesting factors about ATM machines:

• Some ATM machines charge money to withdraw your own cash – acting as a convenience service charge. So it’s always best to check.
• Some machines limit the amount of withdrawal for security purposes (in case of identity theft).