the first atm was installed in the us in 1983.
the first atm was installed in the us in 1983.
when was the first atm installed in the us?
1983
on september 2, 1969, chemical bank installed the first atm in the u.s. at its branch in rockville centre, new york. the first atms were designed to dispense a fixed amount of cash when a user inserted a specially coded card. a chemical bank advertisement boasted "on sept. 2 our bank will open at 9:00 and never close again." chemical's atm, initially known as a docuteller was designed by donald wetzel and his company docutel. chemical executives were initially hesitant about the electronic banking transition given the high cost of the early machines. additionally, executives were concerned that customers would resist having machines handling their money. in 1995, the smithsonian national museum of american history recognised docutel and wetzel as the inventors of the networked atm.
automated teller machine
a chubb-made atm appeared in sydney in 1969. this was the first atm installed in australia. the machine only dispensed $25 at a time and the bank card itself would be mailed to the user after the bank had processed the withdrawal.
automated teller machine