For years, ATM machines have played an important role in people\’s lives. They assisted in easy access of cash deposits and in making bank transactions very manageable. Moreover, they allowed cash withdrawal and depositing possible almost anywhere.

These cash dispensers have always been handy in times of need. ATMs are truly a lifesaver during moments where you ran out of cash in the supermarket, or your credit or debit card went unpredictably offline. Moreover, these dispensers also save you from a great deal of trouble in times where banks are packed with people.

Known as the Automated Teller Machine, the ATM revolutionized banking all over the world. It has been around in as early as 1939 although its first dawn was not greeted well by people. According to history, early versions of such equipment were not so successful since they were quite ahead of their time.

There are several people who contributed to the birth of the machine. The first prototype was created by Luther Simjian in 1939 and dubbed it as the \”hole-in-the-wall\”. His creation however was met with tons of pessimism and doubt.

In 1967, another prototype was created by John Shepherd Barron and was installed at Barclays Bank in Enfield. Barron however did not patent his creation but rather regarded his technology as a \”trade secret\”. Barron feared that patenting his creation would involve disclosure of his invention\’s coding system thus making it possible for criminals to break the codes out.

Meanwhile, in 1968, a person in the name of Don Wetzel developed an automated baggage-handling system which acted as another prototype for the ATM. The machine came out in 1969 and was patented in 1972. The first Wetzel ATM was installed in a Chemical Bank in New York.

Since its creation, there are already millions ATMs installed worldwide. In fact, studies show that an ATM machine is being installed anywhere in the world every five minutes. It may not have been the machine of its time when it was first created but it is currently serving as a vital machine for today\’s generation.

Modern Automated Teller Machines are connected to complex interbank networks which makes it possible for people to make transactions from any machine. To gain access, an individual must have an ATM card that is linked to his or her bank account. The machine then reads the card\’s Terminal Identification Number (TID) to facilitate the transaction with the cardholder\’s bank.

But despite being one of the most helpful equipment ever created, little is known about these \”cash points\”. People don\’t really give much attention to significant occurrences that gave birth to these amazing machines. Similar to all other important things made for the world, the facts behind the existence of these creations were forgotten in history.

The creation of ATM machines gave the world a great banking convenience. The twenty-four hours a day, seven days a week banking possibility made bank transactions easier and more convenient than ever before. With just a card and a touch of buttons, people can now withdraw cash, make deposits, pay bills, and transfer funds anytime and almost anywhere.

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