June 27, 2017

Happy Birthday ATM!

I know my Luddite blog brothers and sisters are not yet sold on the technology ("we're going to trust machines to handle our money?"), but I salute this innovative addoiion to productivity, convenience, and prosperity.

It's the golden anniversary of the ATM. On June 27, 1967, a Barclays Bank branch in London unveiled the world's first automated teller machine. It solved a common problem: In much of the world, cash could be obtained only when a bank was open, typically weekdays between about 10 a.m. and 3 p.m., known as "bankers' hours." The limited schedule often meant long lines. And it could be difficult, if not impossible, to obtain money from a bank other than your own.

The engineer often identified as having developed the first ATM, John Shepherd-Barron, said that his "aha" moment was a byproduct of arriving at his bank one minute after it closed. "That night I started thinking that there must be a better way to get cash when I wanted it,"


Internecine Technology Posted by John Kranz at June 27, 2017 3:16 PM

Heh.

Posted by: johngalt at June 28, 2017 11:15 AM | What do you think? [1]