What term means an unstaffed electronic information processing device that, at the request of a user, performs a financial transaction through the direct transmission of electronic impulses to a financial institution or through the recording of electronic impulses or other indicia of a transaction for delayed transmission to a financial institution? The term includes an automated banking machine.

• A. Automatic Teller Machine
• B. ATM Terminal
• C. Electronic Funds Transfer Unit
• D. Cash Dispenser

Answer: (A)

The term describes an unstaffed electronic device that, at the user’s request, performs a financial transaction by sending electronic signals directly to a financial institution or by recording the transaction for later transmission, and it is designed to include an automated banking machine. That full description matches an Automatic Teller Machine, which is the standard label for this kind of device. It conveys both the automated, teller-like function and the machine form used to interact with banks without a human teller present.

Other terms don’t fit as well for this reason: an ATM Terminal is essentially the same concept but not the conventional name used; an Electronic Funds Transfer Unit refers to the system handling transfers rather than the physical device itself; a Cash Dispenser describes only the act of dispensing cash and doesn’t necessarily encompass the full range of electronic transactions or banking communication.