The first Automatic Teller Machine that could dispense cash to customers opened on September 2, 1969 in Rockville Center, New York, a small town on Long Island. Their advertisement announced, “On Sept. 2 our bank will open at 9:00 and never close again.”
Compared to what ATMs can do now, the original one was not very complicated. It would give out a set amount of cash when a user put in a special card.
In December 1972 an ATM that is closer to what we have now was installed at a LLoyds Bank in Essex, England. The bank customer could withdraw variable amounts of money and that amount would be debited from their account immediately.
By 1979 ATMs were being networked so that customers of different banks could conduct their banking business from the same ATMS (for a small fee if it wasn’t your home bank.)
The first ATMS had been located on the banks’ properties but during the 1980s they began showing up at shopping malls, near bars and restaurants and other places where people might want quick cash. These had more limited function than the ones connected to banks – mostly just dispersing cash in $20 increments.
Note from the Repetition Department Dept.: ATM means Automatic Teller Machine, do not say ATM machine because that would be redundant (machine machine). You enter your PIN (Personal Identification Number) when you use it, not your PIN number (number number). Your cooperation in this matter is appreciated.