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ATM Turns 40

Posted by ryuzaki0 on from the atm-fees-are-such-a-scam dept.

01100111 writes "The world's first ATM was installed in a branch of Barclays in Enfield, north London, 40 years ago this week. Inspiration had struck Mr Shepherd-Barron, now 82, while he was in the bath. The machine paid out a maximum of £10 a time." It struck me there must be a way I could get my own money, anywhere in the world or the UK. I hit upon the idea of a chocolate bar dispenser, but replacing chocolate with cash.""

3 of 210 comments (clear)

  1. Wrong - Not the "first" ATM. by EveryNickIsTaken · · Score: 4, Informative

    From Wikipedia: A mechanical cash dispenser was developed and built by Luther George Simjian and installed 1939 in New York City by the City Bank of New York, but removed after 6 months due to the lack of customer acceptance.

  2. Not quite the same as today's ATMs. by MROD · · Score: 4, Informative

    It should be noted that the ATM of that era wasn't quite what we have today.

    Instead of having a card with a magnetic stripe which you would get back after the transaction it was a small, plastic coated punched card which would be swallowed by the machine and then sent back to the account holder afterwards. In other words, it was an emergency "I need £10 of cash" card.

    I remember my Dad having one of these from the National Westminster Bank circa 1972. ATMs didn't really take off until the magnetic stripe cards came out in the late '70s/ early '80s.

    --

    Agrajag: "Oh no, not again!"
  3. Good reason not to cite Wikipedia as your source! by williamhb · · Score: 5, Informative

    From Wikipedia: A mechanical cash dispenser was developed and built by Luther George Simjian and installed 1939 in New York City by the City Bank of New York, but removed after 6 months due to the lack of customer acceptance

    A good example of why not to cite Wikipedia as your source -- I followed your link when I read your comment (1830BST 25June2007), and there was no sign of Simjian or the Bank of New York on the page. But the page did list the invention by John Shepherd-Barron, which is the one you are disputing! I suspect many other readers had a similar experience. So either you were making mischief, in which case you've been found out, or it's changed since you cited in, in which case that'll teach you not to cite a publically editable source!