bank teller . On most modern ATMs, the customer is identified by inserting a plasticATM cardwith amagnetic stripeor a plasticsmartcardwith achip, that contains a unique card number andsome security information, such as an expiration date or CVVC(CVV). Authentication is provided by the customer entering a personal identification number (PIN).Using an ATM, customers can access their bank accountsin order to makecashwithdrawals (or credit cardcash advances) and check their account balances as well as purchasing mobile cell phone prepaid credit. ATMs are known by various other names including
Thereafter, the history of ATMs paused for over 25 years, untilDe La Ruedeveloped the firstelectronic ATM, which was installed first inEnfield Townin North London,United Kingdom.This instance of theinventionis credited toJohn Shepherd-Barron, although various other engineers were awarded patents for related technologies at the time. Shepherd-Barron wasawarded anOBEin the 2005 New Year's Honours List. The machine was launched by theBritishvariety artist and actor Reg Varney. The first ATMs accepted only a single-use token or voucher, which was retained by the machine. These worked on various principles includingradiationand low-coercivitymagnetismthat was wiped by the card reader to make fraud moredifficult.The machine dispensed pre-packaged envelopes containing ten pounds sterling. Theidea of a PIN stored on the card was developed by the British engineer James Goodfellowin1965 and he patented the ATM as we know it around this time.In 1968 the networked ATM was pioneered inDallas, Texas, byDonald Wetzelwho was adepartment head at an automated baggage-handling company called Docutel. In 1995 theSmithsonian's National Museum of American History recognised Docutel and Wetzel as theinventors of the networked ATM.ATMs first came into wide UK use in 1973; the IBM 2984 was designed at the request of LloydsBank . The 2984 CIT (Cash Issuing Terminal) was the first true Cashpoint, similar in function totoday's machines; Cashpoint is still aregistered trademark of Lloyds TSB in the U.K. All wereonline and issued a variable amount which was immediately deducted from the account. A smallnumber of 2984s were supplied to a US bank. Notable historical models of ATMs include theIBM 3624and473xseries,Diebold 10xxandTABS 9000series, and NCR 50xxseries.
An ATM Encrypting PIN Pad (EPP) withGermanmarkingsATMs are placed not only near or inside the premises of banks, but also in locations such asshopping centers/malls, airports, grocery stores, petrol/gas stations, restaurants, or any placelarge numbers of people may gather. These represent two types of ATM installations: on and off premise. On premise ATMs are typically more advanced, multi-function machines thatcomplement an actual bank branch's capabilities and thus more expensive. Off premise machinesare deployed by financial institutions and also ISOs (or Independent Sales Organizations) wherethere is usually just a straight need for cash, so they typically are the cheaper mono-functiondevices. In Canada, when an ATM is not operated by a financial institution it is known as a"White Label ATM".