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Interbank network

 

 
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Interbank network
 
 
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An interbank network, also known as an ATM consortium or ATM network, is a computer network
Computer networking

Computer networking is the engineering discipline concerned with communication between computer systems or Peripheral devices. Networking, routers, routing protocols, and networking over the public Internet have their specifications defined in documents called Request for Commentss....
 that connects the ATMs
Automated teller machine

An automated teller machine is a computerized telecommunications device that provides the customers of a financial institution with access to financial transactions in a public space without the need for a human clerk or bank teller....
 of different bank
Bank

A bank is a financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money. It is an institution for receiving, keeping, and lending money....
s and permits these ATMs to interact with the ATM cards of non-native banks.

While interbank networks provide capabilities for all ATM card
ATM card

An ATM card is an ISO 7810 card issued by a bank, credit union or building society.It can be used:* at an automated teller machine for deposits, withdrawals, account information, and other types of transactions, often through interbank networks...
s within the same network to use other banks' ATMs that belong to the same network, the services vary. For instance, when a person uses their ATM card at an ATM that does not belong to their bank, the basic services, such as balance inquiries and withdrawals, are usually available.






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An interbank network, also known as an ATM consortium or ATM network, is a computer network
Computer networking

Computer networking is the engineering discipline concerned with communication between computer systems or Peripheral devices. Networking, routers, routing protocols, and networking over the public Internet have their specifications defined in documents called Request for Commentss....
 that connects the ATMs
Automated teller machine

An automated teller machine is a computerized telecommunications device that provides the customers of a financial institution with access to financial transactions in a public space without the need for a human clerk or bank teller....
 of different bank
Bank

A bank is a financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money. It is an institution for receiving, keeping, and lending money....
s and permits these ATMs to interact with the ATM cards of non-native banks.

While interbank networks provide capabilities for all ATM card
ATM card

An ATM card is an ISO 7810 card issued by a bank, credit union or building society.It can be used:* at an automated teller machine for deposits, withdrawals, account information, and other types of transactions, often through interbank networks...
s within the same network to use other banks' ATMs that belong to the same network, the services vary. For instance, when a person uses their ATM card at an ATM that does not belong to their bank, the basic services, such as balance inquiries and withdrawals, are usually available. However, special services, such as the purchase of mobile phone
Mobile phone

A mobile phone is a long-range, electronic device used for mobile voice or data communication over a network of specialized base stations known as cell sites....
 airtime, are usually not accessible to ATM cardholders of banks other than the ATM cardholders of the acquirer
Acquirer

An acquirer is a member of a card scheme, for example MasterCard and/or Visa Inc., which maintains merchant relationships and receives all bankcard transactions from the merchant....
 (the bank that owns the ATM). Furthermore, many banks will charge a fee to users of cards that do not come from their own bank (in addition to any fees imposed by the bank of the card the person is using).

Interbank networks are convenient because people can access the ATMs of other banks who are members of the network when their own bank's ATM is unavailable. Such is especially convenient for travelers traveling abroad, where multinational interbank networks, like PLUS
PLUS

PLUS is an interbank network that covers all VISA credit, debit, and prepaid cards, as well as ATM cards issued by various banks worldwide. Currently, there are one million PLUS-linked ATMs in 170 countries worldwide....
 or Cirrus
Cirrus (interbank network)

Cirrus is a worldwide interbank network operated by Mastercard. It links MasterCard, Maestro , Diners Club credit, debit and prepaid cards to a network of over 1,000,000 Automatic teller machines in 93 countries....
, are usually available.

Interbank networks also, through different means, permit the use of ATM cards at a point of sale
Point of sale

Point of sale or point of service can mean a retailing, a checkout counter in a shop, or the location where a financial transaction occurs....
 through the use of a special EFTPOS
EFTPOS

EFTPOS is an Australian and New Zealand electronic processing system for credit cards, debit cards and charge cards.EFTPOS also allows users of the system to withdraw cash at the time of purchasing a product or service through the merchant's EFTPOS terminal....
 terminal where ATM cards are treated as debit card
Debit card

A debit card is a plastic card which provides an alternative payment method to cash when making purchases. Functionally, it can be called an electronic check, as the funds are withdrawn directly from either the bank account , or from the remaining balance on the card....
s.

See also

  • ATM usage fees
    ATM usage fees

    ATM usage fees are the fees many banks and interbank networks charge for the use of their Automated Teller Machines . In some cases, these fees are assessed solely for non-members of the bank; in other cases, they apply to all users....
  • Banking data centers