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The Changing ATM

atm3Today’s ATMs offer a near complete self-service banking experience. ATM users can check their account balance and statements, purchase stamps, deposit money and checks, and withdraw cash. The earliest ATMs were much simpler devices that only deposited cash. John Shepherd-Barron’s cash-dispensing machine, unveiled in 1967, is considered the first ATM. After Shepherd-Barron’s ATM, inventors in Europe and the United States followed with similar machines, such as the Enfield cash machine at a Swedish bank. Texas engineer Don Wetzel created the Docuteller, the first automated banking machine in the United States. A branch of Chemical Bank installed Wetzel’s Docuteller in New York. While other machines used paper tickets, the Docuteller accepted a reusable plastic card encoded with a magnetic strip that read the user’s account information. The Total Teller followed in 1971, allowing users to make deposits, transfer money between accounts, withdraw cash, and make cash advances to credit cards.

These early ATMs were not automatically connected to bank accounts, so the machine had no way to verify if the ATM user had enough money in their account to withdraw the cash. Banks tried to solve this issue by limiting daily cash withdrawals and restricting ATM usage to customers with good banking habits. By the 1990s however, ATM manufacturers were able to connect the machines to bank accounts using dial-up communication networks. This advancement led to the development of independent ATMs that were not affiliated with particular banks. These ATMs could be installed at universities, casinos, and retail businesses rather than the front of a bank.

Today, many businesses have ATMs to facilitate customer purchases and boost store revenue. America’s ATM provides ATMs, financial service kiosks, and marketing products to businesses. Through the free placement program, business can receive a free ATM for their business and America’s ATM installs, services, and maintains the machine. The Free ATM partner program provides the business with a free ATM, as well as maintenance, servicing, and installation, while the business owner manages the cash loading of the machine. The processing program offers processing assistance for the business’s ATM. Visit the America’s ATM website, http://americanatm.com/ to learn more about the services America’s ATM offers.




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