How does an ATM work?

Question

I'm honestly wondering about the mechanics of an ATM network. How does an ATM network work? Is there an electronic clearinghouse that banks are a part of that facilitates the transaction? Why can an ATM process a transaction almost instantaneously while it takes me three days to do a bank transfer?

Anonymous · Answer

You put in a quarter.  Then you turn the knob and gum balls come out.  Same thing.

Philomel · Answer

The ATM Machine looks at your card and compares it to an account at your bank.
It sees if there is enough money to do the trans action. then it does it and siphons off a small fee.
If it takes three days for a transfer, you have the wrong bank.
Look for a Credit Union. The fees are much less and the service is much faster and better.

John · Answer

The ATM makes buzzing sounds when depositing or withdrawing money. I've no idea how it works, mechanically. Where is the Bank Manager? Behind locked doors and asleep in the Break Room at 9:30 AM. I think a Bank Associate has more power. They use the generic term, Banker's.

Pearl L · Answer

i would ask your bank about it

? · Answer

i would ask the bank about it

How does an ATM work?

5 Answers