What Bank Installed The First ATM In 1970?
The first ATM (or automatic teller machine) was known as the Total Teller. This first fully-functional bank ATM was actually introduced in 1971 (not in 1970) by Docutel. However, a predecessor of the ATM, called the Bankograph, existed in the 1960’s. This machine was installed in the lobbies of several branches of New York’s First National City Bank (which is now called Citibank). In 1967, a Barclays Bank branch near London installed the first cash dispenser, called the DACS (De La Rue Automatic Cash System), which was invented by John Shepherd-Barron of De La Rue Instruments. It bought paper vouchers, which, in reality, were cheques impregnated with Carbon 14, in advance from the bank’s tellers and used these. In 1968, Barclays, along with a few other banks, introduced a machine that encoded the cash on plastic cards purchased from a teller. Bank customers using these machines always had to purchase a card if they wanted more transactions, as the machines always ate the cards. The Doc
