ATM
What Is Retract?
Retract is a term used in ATM systems. When cash already presented to the customer is not taken, it is diverted into a compartment called retract, as opposed to the reject compartment used for unusable banknotes.
Search
"Retract"
4 articles found
ATM
What Does It Mean for Cash to Be Presented to the Customer at an ATM?
During an ATM withdrawal, once all checks are complete and the decision to give the money is made, the cash becomes ready to be presented. The distinction matters for whether notes go to the retract or reject bin.
ATM
What Is Reject (the Reject Bin)?
It's a term used in ATM systems within payment systems. In ATM transactions, cash in question is placed into a separate compartment for review, called the reject bin. Retract is the customer's holding bin; reject is the ATM's reject bin.
ATM
What is an ATM Shutter?
The shutter can be described as the gate mechanism that prevents financial loss during ATM cash deposit and withdrawal transactions by controlling customer access to cash and preventing tampering with the ATM system.