Automated Teller Machine (ATM)

An automated teller machine (ATM) is a self-service electronic telecommunications device that dispenses cash. Also known as a cash machine, an ATM enables account holders to do financial transactions without passing through a bank teller.

EMV Card

Bank clients or cardholders are identified by means of their ATM card which contains a magnetic stripe or a smart card with an EMV chip embedded on it, containing a unique card number and security information. The cardholder’s identity is verified or authenticated as soon as he keys in his Personal Identification Number (PIN).

By using an ATM, the cardholder may withdraw cash, pay bills, check balances, etc., using his ATM card, Debit card or his Credit card.

ATMs may be lobby types or through-the-wall. The former usually requires a vestibule, while the latter requires a hole-in-the wall to be accessed by cardholders.

Nowadays, ATMs are a ubiquitous part of our daily life in the Philippines. In the ‘60s, the idea of having a self-service teller machine was a distant dream. The ATM revolution took root in the Philippine in the early ‘80s and have taken wing since then. Now, ATMs may be found not just in banks, but also in malls, markets, hospitals, gas stations, resorts, casinos, railway stations such as the MRT and the LRT, in cooperatives and in rural banks, groceries and business centers.