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highschool
highschool

What do you know about the first cash dispensing machine installed in 1968?

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Posted by highschool on Saturday November 8, 2008 at 5:47 AM and tagged with cash machine, first, history.

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  1. pmiranda2857
    pmiranda2857 Teacher
    High School - 10th Grade

    eNotes Editor

    The first cash dispensing machine was not a full ATM, it only dispensed cash, it did not offer any other types of transactions.

    "The first voucher based cash dispensing machine was installed in 1967 by Barclay's Bank in London.  Experts, however, do not consider this an ATM.  The first modern day ATM was introduced to consumers in 1969 by Chemical Bank."

    It wasn't a free standing machine, it was in the wall of the bank.

    "The original machines, described as mini-banks, were designed to allow customers access to cash 24 hours a day, outside of the restrictive opening times of banks during the 1960s. The machine was designed to dispense £10 against a special paper voucher which the customer inserted into the machine followed by a unique 4 digit personal code in much the same way as today."

    Sources:
    http://www.insidemoneytalk.com/news/bal/bal122.html
    http://www.thocp.net/hardware/atm.htm

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    Posted by pmiranda2857 on Saturday November 8, 2008 at 5:57 AM