Automated Teller Machine (ATM)

An automated teller machine (ATM) is a device that allows for the withdrawal of cash without the need of a human teller or cashier.

Related Terms

  • ODFI (Originating Depository Financial Institution)

    Financial institutions that originate ACH transactions on behalf of its customers. ODFI's must abide by the National Automated Clearing House Association (NACHA) Operating Rules.

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  • Settlement Date

    The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

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