"As for swipe ATMs, my major worry (as a bank operator) would be that I would expect that they would be more prone to mechanical failure (from ease of dust building up, people spilling coffee, etc) than an insert ATM."
Actually, it is the opposite. There is a much higher failure rate on motorized readers that take the card into the machine. Moving parts vs no movie parts, and all of that. With a motorized reader, you can get jams, misalignments between the internal reader and the face of the machine, etc. We see much higher failure rates on these.
As I said below in another reply, dip/swipe readers only generally allow one transaction per insertion, and unless you walk away from the machine before doing a transaction and somebody immediately walks up behind you, it is not a likely problem. Also, cash is generally sucked back into the machine after a given interval on most dispensers (around 30 seconds). There are a few machine types that have what we call "spray" dispensers that completely let go of the cash and cannot suck the money back in. Most of these are old models, though.
If a machine sucks your cash in because you didn't get it in time, in the US, you just go to your bank and file a Reg E dispute. This kicks off research of the transaction, and the bank can tell if you didn't get your money and will credit you back.
"Maybe more bank ATM's should start having a card swipe but the only problem I see with a card swipe is you could potentially walk away with your account open whereas when it takes your card, you wait until you get your card before you leave."
Actually, this can be handled by the machine config. You just have to set the machine software to only allow one transaction per card insertion. Common practice.
Most major banks have various hardware configurations that include various brands of equipment and various hardware setups, so have to be able to differentiate things like this.
Motorized readers are on the way out most places. The reason the bank/ATM operators don't like them is that if you get a message to capture a card over the network, and your machine has the capability to capture a card, you must capture it. This is a good thing, getting hot cards out of circulation, right?
Wrong, at least for the bank. If you capture a card, that means you have to deal with it later. Somebody has to remove the card from the machine, then you get into all kinds of internal control problems and procedures having to do with said captured card.
Best answer is to have a dip or swipe reader than cannot capture cards. If you cannot capture cards, you aren't violating the ATM network rules by not capturing the cards. All your internal control, security concerns, and logistical problems associated with the captured cards are gone.
Another reason not to capture cards if you can avoid it is that you cut down cutomer complaints from people who leave their cards in the machine (even through the incessant beeping) while distracted or people who screw up their PIN too many times so the machine keeps their card.
BTW, personal pet peeve: "PIN Number" and "ATM Machines" are redundant phrases:) It is like saying "Personal Identification Number Number" and "Automated Teller Machine Machine".
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"As for swipe ATMs, my major worry (as a bank operator) would be that I would expect that they would be more prone to mechanical failure (from ease of dust building up, people spilling coffee, etc) than an insert ATM."
Actually, it is the opposite. There is a much higher failure rate on motorized readers that take the card into the machine. Moving parts vs no movie parts, and all of that. With a motorized reader, you can get jams, misalignments between the internal reader and the face of the machine, etc. We see much higher failure rates on these.
As I said below in another reply, dip/swipe readers only generally allow one transaction per insertion, and unless you walk away from the machine before doing a transaction and somebody immediately walks up behind you, it is not a likely problem. Also, cash is generally sucked back into the machine after a given interval on most dispensers (around 30 seconds). There are a few machine types that have what we call "spray" dispensers that completely let go of the cash and cannot suck the money back in. Most of these are old models, though.
If a machine sucks your cash in because you didn't get it in time, in the US, you just go to your bank and file a Reg E dispute. This kicks off research of the transaction, and the bank can tell if you didn't get your money and will credit you back.
Yes, I know what SCUBA is (certified myself), and don't generally put "gear" with it either.
:)
As I said, it is a personal pet peeve. Also, VIN number falls into the same group for me
"Maybe more bank ATM's should start having a card swipe but the only problem I see with a card swipe is you could potentially walk away with your account open whereas when it takes your card, you wait until you get your card before you leave."
Actually, this can be handled by the machine config. You just have to set the machine software to only allow one transaction per card insertion. Common practice.
Most major banks have various hardware configurations that include various brands of equipment and various hardware setups, so have to be able to differentiate things like this.
Motorized readers are on the way out most places. The reason the bank/ATM operators don't like them is that if you get a message to capture a card over the network, and your machine has the capability to capture a card, you must capture it. This is a good thing, getting hot cards out of circulation, right?
:) It is like saying "Personal Identification Number Number" and "Automated Teller Machine Machine".
Wrong, at least for the bank. If you capture a card, that means you have to deal with it later. Somebody has to remove the card from the machine, then you get into all kinds of internal control problems and procedures having to do with said captured card.
Best answer is to have a dip or swipe reader than cannot capture cards. If you cannot capture cards, you aren't violating the ATM network rules by not capturing the cards. All your internal control, security concerns, and logistical problems associated with the captured cards are gone.
Another reason not to capture cards if you can avoid it is that you cut down cutomer complaints from people who leave their cards in the machine (even through the incessant beeping) while distracted or people who screw up their PIN too many times so the machine keeps their card.
BTW, personal pet peeve: "PIN Number" and "ATM Machines" are redundant phrases