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February 7, 2021

The First Automated Teller Machine (ATM), 1966

This early prototype of the automated teller machine (ATM) was displayed for the first time at the American Bankers Association annual meeting in San Francisco, California on October 25, 1966. Banks of the future may have “tellers” installed in office and apartment house lobbies. Richard Glyer demonstrates how to deposit a check in one. Through the medium of automation he can talk to a teller whom he sees on the television screen. She will answer his questions, cash checks and issue currency from his account.

(AP Photo/Ernest K. Bennett)

In 1969, however, the first true ATM able to dispense cash via a magnetically encoded card appeared in a Long Island, NY, branch of Chemical Bank. Today there are 2.2 million ATMs worldwide, located everywhere from retail stores to the frozen wastes of Antarctica's McMurdo Station.




1 comment:

  1. all incorrect as far as being the first-two scotsmen did that-no wankees involved!!!!

    ReplyDelete



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