ATM: How, What, When, Why?

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With invention in various fields, and technology advancing on a daily basis, almost everything has become fast paced. A part of this fast paced life of ours is the ATM: Automatic Teller Machine.

When ATM came into existence?

Many believe that American inventor and businessman Luther Simjian invented ATM for improvising the way banks tend to work and making the experience of customers better. Luther held patents for many inventions like color x-ray machines, self focusing camera, etc.

1960, the year ATM setup began

In 1960, Simjian persuaded the New York City bank to start installing ATMs for their customers. The machine was meant for automatic deposit and printed a receipt as proof of deposit. But it was seen that only gamblers and prostitutes were using the machine to avoid seeing any bank official.

End of 1960s, beginning of customers for the deposit machine

By the end of 1960s, more and more people began to show confidence and comfort in the machine and hence customers began expanding.

1970, ATM to customers

It was in 1967 that first ATM was opened for public use and for automatic banking. With ongoing marketing strategies and sales targets, ATMs began to grow more and more.

Today the world has around 2 million ATMs and a new one is being set up every few minutes. We view the world as something granted but view new things with wide open eyes, and in the process the ability to appreciate an invention like ATM has been lost