ATM

ATM SEMINAR MATERIALS

You're short on cash, so you walk over to the automated teller machine (ATM), insert your card into the card reader, respond to the prompts on the screen, and within a minute you walk away with your money and a receipt. 

These machines can now be found at most supermarkets, convenience stores and travel centers all over the country from coast to coast.

But have you ever wondered about the process that makes your bank funds available to you at any of the thousands of ATMs?

ATMs have become a quick, convenient way to access money in your accounts

The “world’s first” ATM landed on a high street in Enfield, a suburb of London, at a branch of Barclays bank; there’s even a blue plaque on the outside of the building, still a Barclays, to memorialize the cash dispenser’s June 27, 1967, debut. The story goes that John Shepherd-Barron, an engineer at printing company De La Rue, came up with what was essentially a cash vending machine one Saturday afternoon after he missed his bank’s open hours. He was, notably, in the bath. Shepherd-Barron he approached Barclays with the idea, a contract was hurriedly drawn up (over a “pink gin”) and soon after, the new cash dispenser – with a £10 maximum withdrawal – sprouted up next to the bank. The machine transformed banking and Shepherd-Barron’s name went down in history: In 2005, he was made an Officer of the Order of the British Empire for his services to banking and the obituaries after his death in 2010 all called him the “inventor of the ATM