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GPS in ATMs?
Posted: Wed May 26, 2010 2:02 pm
by MDeen
I just read
this article about the upgrade of the GPS system.
It claims that without GPS, ATMs would "stop spitting out cash".
I find that very hard to believe. Why would an ATM need a GPS to dispense money? Not for location, an ATM is a stationary device. Maybe for timekeeping? ATMs are all wired into the bank's network, I would assume that implementing NTP in software is cheaper than installing a GPS receiver.
And then what about in-doors ATMs that can't even get a GPS lock?
Does anyone know if this statement is based on facts? Do ATMs have GPS receivers or do they need an operating GPS network to dispense cash?
Re: GPS in ATMs?
Posted: Wed May 26, 2010 2:53 pm
by Jes
Indeed, it sounds strange... let me think about that and, if I come to a conclusion, I will let you know. (But at the moment... I am somehow 'confused'
)
Re: GPS in ATMs?
Posted: Wed May 26, 2010 11:42 pm
by doiknow
I am confused - why should I link a ATM to GPS? If someone would send disturbing signals in the 1100-1600 MHz range the GPS signal is disturbed thus leading to non working ATMs? Why not linking them to the local NTP protocoll? Should be harder to disturb.
I heard some military buildings are guarded by so called 'GPS jammers' disturbing the signal and trying to mislead SSMs. However, modern missiles contain more than one navigation system just in case the GPS uplink fails...
And now someone wants to tell me banks link their ATMs to GPS.
Sorry I am not convinced.
Re: GPS in ATMs?
Posted: Wed May 31, 2023 9:09 am
by yaraghshop98
Why would an ATM need a GPS to dispense money? Does anyone have any information about this?
Re: GPS in ATMs?
Posted: Fri Jun 02, 2023 2:09 pm
by Montgomery Burns
The questions you raise are valid/interesting, but I think it's worth mentioning that article is from 2010...
Edit - OK the whole
thread is from 2010, silly me.
Re: GPS in ATMs?
Posted: Thu Jul 27, 2023 9:19 pm
by lmviterbo
After asking ChatGPT, I actually read the article. It's all there, as ChatGPT kindly told me…
ChatGPT wrote:According to the current web page context, GPS is not only a navigation system but also a crucial timekeeper for the financial industry1. Transactions made everywhere, from ATMs to Wall Street stock trades, are time-stamped using precise atomic clocks ticking within the GPS satellites2. The clocks are accurate to one-billionth of a second3. This means that GPS helps synchronize the transactions and prevent fraud or errors.
So, without GPS, ATMs would have trouble verifying and processing the transactions, and might stop spitting out cash4. This was true in 2010, when the article was written, and it is still true now, unless the ATMs have an alternative way of keeping accurate time. I hope this answers your question.
