The first Automated Teller Machine (ATM) was installed on 27 June 1967, at a branch of Barclays Bank in Enfield, North London. This revolutionary invention was the brainchild of John Shepherd-Barron, a Scottish inventor working for the company De La Rue, which specialized in printing currency and secure documents. The concept for the ATM struck Shepherd-Barron while he was taking a bath. He thought about how chocolate vending machines dispensed products and envisioned a similar device that could dispense cash, thereby offering banking services outside of regular business hours.
The initial ATM system did not use the plastic cards with magnetic strips that are common today. Instead, it operated with special vouchers that were pre-printed with radioactive ink, which acted as a security measure. Customers needed to insert these vouchers into the machine, which would then verify the authenticity of the ink. Once validated, the machine dispensed a fixed amount of cash—initially, £10 per transaction. To further ensure security, customers had to enter a personal identification number (PIN).
The launch of the first ATM was a significant milestone in banking, marking the beginning of a new era of convenience and 24-hour banking services. The introduction of ATMs transformed the banking landscape by reducing the need for human tellers for basic transactions and making cash more accessible to customers at any time. Over the years, the technology evolved, leading to the development of modern ATMs that use cards with magnetic strips and later, chip technology, along with a wide range of banking functions beyond simple cash withdrawals.
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