Top Security Features of Modern ATMs You Must Know

The globe is seeing a sharp increase in ATMs and payment terminals. By 2030, the global ATM market is anticipated to surpass one million dollars. Expats need to know about the technicalities of ATMs because they work hard for their money. These expats have to perform many banking operations, such as global money transfer etc. Hence, the knowledge of ATMs will increase their financial management skills. This blog will explain how ATMs operate and what security features they have. 

ATM Security Protocols

Since ATMs are frequently found outside buildings and are used day and night, financial institutions prioritize keeping them secure. To ensure the safety of both the machines and their users, banks implement various security measures. These include surveillance systems with strategically placed cameras to monitor activity and deter potential criminals, as well as physical security measures such as secure enclosures or barriers to prevent unauthorized access. These combined efforts help to protect ATMs from theft, vandalism, and other security threats.

Vibration Detector

This sensor assists in identifying attempts to access the ATM. The sensor's sensitivity level is adjusted to allow detection efforts to drill into and open the safe without reacting to the interior mechanics. Three orientations comprise the vibration sensor's threshold limits. An alert message is sent in the event of an emergency.

Sensor for Humidity and Temperature

These sensors allow real-time monitoring of temperature and humidity. The temperature sensor can detect an attempt at ATM thermal tampering. An alert message will be sent if the temperature and humidity values surpass the threshold.

Tilt Detector

The ATM's tilt sensor responds to changes in its position and recognizes attempts to take it. These sensors are mounted on the ATM enclosure's moving components or inflexible framework. The tilt sensor can detect an attempted break-in or vandalism.

Verification of Cards

Card verification is a further measure to prevent unwanted access to make an online money transfer. This procedure makes it possible to confirm that the specific individual is the cardholder. An RFID reader reads the number on the card to carry out the verification process. If this number corresponds to the number in the system, the authorization is deemed successful.

Verification of Fingerprints

Using this measure, the user's fingerprint is compared to the fingerprints in the database. The authentication is deemed effective if the fingerprints coincide. When a user registers, database fingerprints are created.

PIN Verification

A person's personal identification number (PIN) is both an electronic version of their signature and the card's secret code. The PIN code is four to twelve digits long and may contain characters. When making financial transactions, the card is assigned a PIN code that serves as the cardholder's unique identification. When the correct PIN is entered, authorization is deemed successful.

Face Identification

This practical technology makes user identity possible without a password. The authorization is deemed successful if the faces in the database match the retrieved digital user pattern. Conventional ATM software can be simply combined with the biometric facial identification system.

Can You Make International Money Transfer with ATMs

Expats need to know they cannot send money through ATMs but can deposit cash.

How Can a Deposit Be Made Using an ATM?

If you are a bank customer, you may be able to deposit cash or checks using one of the bank's ATMs. You might need to insert the money directly into the machine to accomplish this. Some machines might require you to fill out a deposit form and put it in an envelope before you can insert the money. Always sign cheques and note "For Deposit Only" on the back to be safe.

Send Money Internationally Using ACE Money Transfer

Don’t worry if ATMs cannot transfer funds for you. ACE Money Transfer is equally convenient and can help you transfer funds internationally.
 

• ACE Money Transfer allows you to send remittances from anywhere in the world in as little as 7 seconds at most.
• The firm provides market-competitive exchange rates by connecting them to the global market, where they are constantly changing. It helps the remitters select when to link and start a transaction.
• ACE protects its online transactions with strict and impenetrable security.
• ACE  typically charges no fee or a minimal service charge for transactions, but occasionally, it runs campaigns to make money transfers free of charge.
• There are more than 375,000 pick-up locations for it worldwide.
• Its services are readily available 24/7, and it has a global presence.

ATM security focuses on stopping thieves from taking advantage of the money in the machine. Data authentication, a security module, and online and offline PIN verification are examples of machine security mechanisms. This assures users that they are in a safe place to withdraw money. However, you can rely on ACE Money Transfer to send money online to more than 100 countries. Its security is as stringent as any ATM's.

FAQs

Do modern ATMs have anti-skimming technology? 

Yes, most modern ATMs include anti-skimming devices to protect against card data theft.

Can I use biometric authentication at all ATMs? 

Not all ATMs have biometric features yet, but they are becoming more common in modern machines.

How do ATMs detect physical tampering? 

ATMs use sensors like vibration and tilt detectors to alert them of any tampering attempts.

Are there any ATMs that support contactless transactions? 

Yes, many new ATMs now support contactless card or mobile transactions.

Can ATMs recognize and prevent fraudulent transactions? 

ATMs can detect and prevent fraudulent activities through card verification, PIN checks, and real-time monitoring.
 

References:

https://www.linkedin.com/pulse/2032-atm-market-set-grow-globally-upcoming-yukzc/