A method for ATM Electronic Lock System comprising the steps: (a) a user using ATM card and entering PIN in an ATM Electronic Lock Subsystem, (b) the ATM Lock System authenticating the user, (c) generating a RND and Local One Time Code (LOTC) with the user's personal ID, Equipment ID, (d) displaying the RND to the user and the user sending the RND to ATM management center via mobile device, (e) the Management Center authenticating the user and generating a Management Center One Time Code (MC-OTC) and sending the MC-OTC to the user's mobile device, (f) the user entering the MC-OTC to the ATM Electronic Lock Subsystem, (g) the ATM Electronic Lock Subsystem comparing the MC-OTC with LOTC, and sending unlock command to unlock the ATM Electronic Lock System to allow user to access the ATM if the MC-OTC matches the LOTC, otherwise, the ATM Electronic Lock System remains locked.