The first cash dispensing machine was invented by Luther George Simjian in 1939. It was removed 6 months later from the City Bank of New York due to lack of users. During this period, Simjian sold 0 amount of ATM’s and complained that only prostitutes and gamblers used the machine.
The first modern electronic automated teller machine – which dispensed vouchers instead of cash – was installed in Enfield Town in North London, United Kingdom in 1967 by Barclays Bank.
In 1969, the first free standing electronic ATM to use magnetic stripe on plastic cards was installed by Chemical Bank.
It was not until the 1970s that the automated teller machines were accepted with a little unease because people were concerned about the amount of workers the machines will displace.
Source: US Fixed
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