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History of the ATM Machines

By James Blee Subscribe to RSS | February 17th 2012 | Views:

The ATM Machines were first used in the year 1939 in New York City. Luther George Simjian is credited as the inventor of this machine when he got a public bank to try out his invention. But his noble efforts failed miserably as there were not many takers of the concept. . In 1960, a bank in New York City installed a machine on the same lines.

Then the event shifted to London in 1964. An electronic machine was installed in the in North London. But there was a huge difference in functionality between that machine and the present ATM Machines. The machine was able to drop ten pound sterling amounts of cash replacing a cashier bought receipt. The present styles were designed by the British engineer James Goodfellow. He came out with his own band of creation in the year 1965. The modern varieties of the atm machines are somewhat in the same lines on the one built by him. Donald C. Wetzel for the first time created the cards with magnetic strips in the year 1969 for Docutel. It was this very company who got the first patent to manufacture such machines. They are credited as the pioneer of creating the ATM Machines by the Smithsonian Museum. But the problem was the acceptability factor of the machine among the common people. They were scared enough to rely on the machines. Moreover, the cost of running such machines was huge.

Thereafter, in the year of 1971, Docutel paved the way for building the modern atm machines. They produced a totally automatic machine called the Total Teller. When the year 1973 came, this machine was capable enough to dispose cash in any desirable amounts. It was further enhanced when the online networking section was added to them.

James Blee - About Author:
For more information on atm machines, check out the info available online; these will help you learn to find the atm machines!

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