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The History of ATMs

Posted by Arthur Peter on


The History of ATMs

The inventor of ATM thought his idea would be obsolete by now but 50 years later it's still around. Scottish inventor John Shepherd-Barron claimed he had the idea to dispense cash while in a bathtub. I hit upon the idea of a chocolate bar dispenser but replacing chocolate with cash.

He took his idea to Barclays Bank in London and in June 1967 it became the first automated teller machine. Originally, the machines only allowed $14 max for withdrawals, but the machines were an immediate success in England.

In 1969 they debuted in the U.S. in Long Island, NY. Today there are over 3 million ATMs in the world. In places as far as China's forbidden city. The Grant Canyon and Antarctica!



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