Overview of ATMs
An automated teller machine (ATM) allows customers to complete transactions without a branch representative. Anyone can access cash using credit or debit cards. ATMs provide quick self-service for deposits, withdrawals, payments, and transfers. Some fees commonly apply to cash withdrawals.
- When money is withdrawn from the bank, the bank is debited.
- ATMs have built-in cameras that capture faces of users directly at the moment of transactions.
- All ATMs are equipped with electronic sensing eye and scanning devices to detect counterfeit money.
ATM Transactions Tracking
- Do ATMs track money?
- Can a bank track ATM transactions?
Additional Security Measures
- Protecting debit card information is crucial.
- Banks have fraud liability protections, but recouping lost money can prove difficult.
- ATM Tracker tracks the ATM or Cash Machine, cash inside, and criminals during their escape.
- In the US, banks are required to complete fraud investigations within 10 business days of the time they are advised of the claim.
Record Keeping
- For any deposit over $100, banks must keep records for at least five years.
- Banks may retain records for longer periods if they choose to do so.