Everything To Know About The World’s First ATM Machine & It Has An Indian Connection

We live in a modernized world where we do not give a lot of importance to cash. Why? Because now the best alternative is online transaction! For all the right reasons? Indeed for all the right reasons. However, there was once a time when ATM machines were a lifesaver for us. They used to make getting money from our banks at odd hours the most hassle-free job ever. Have you ever wondered about the world’s first ATM machine? Today we are here to explore the same.

Who invented the world’s first ATM machine and when did it happen

An Automated Teller Machine (ATM) is a remarkable technological innovation that has revolutionized banking and financial transactions. In the best possible manner, ATM machines enhance the way people manage their money around the world. But with whose grace this has been possible? When was the world’s first ATM machine invented?

Well, the invention of ATM machines is attributed to John Shepherd-Barron, a British-Scottish inventor born on June 23, 1925, in Shillong, India. The world’s first-ever ATM was introduced on June 27, 1967, at a Barclays Bank branch located in Enfield, North London, United Kingdom. Back then, the invention of ATM machines was a revolutionary concept that was way ahead of its time.

The machine allowed customers to withdraw cash which was earlier a time-consuming task. It would not be wrong to say that Shepherd-Barron’s pioneering work in developing the ATM and thus paved the way for the significant advancement of modern banking technology.

Here’s what inspired John Shepherd-Barron to invent an ATM machine

John’s eureka moment for the ATM occurred on a fateful Saturday in 1965 when he made a trip to his bank with the intention of withdrawing some money. To his dismay, he arrived just one minute past closing time, finding the bank’s doors firmly shut. Left with no cash and pondering this inconvenience while taking a bath later that evening, he had a brilliant thought: Why couldn’t banks have a machine to dispense money?

In the same year, he took his idea and met with the chief general manager of Barclays Bank. There, he passionately presented his concept of a cash-dispensing machine. It wasn’t until nearly two years later, in June 1967, that the world witnessed the installation of the very first ATM, marking the inception of a revolutionary innovation in banking.

Sir Thomas Bland unveiled the first ATM by drawing back a curtain, and actor Reg Varney made the first cash withdrawal. During the trial, customers used paper cheques with radioactive carbon-14 traces that the ATM detected, matching them with a four-digit PIN. In return for their cheques, customers received a £10 note, a substantial sum at the time, according to inventor John Shepherd-Barron. This marked the start of modern banking convenience.

Here’s how the 50th anniversary of the ATM was commemorated

In honor of the 50th anniversary of the first ATM’s installation, Barclays underwent a remarkable transformation of the ATM at its Enfield branch in 2017. The ATM was given a golden makeover, complete with the addition of a special commemorative plaque. A red carpet was also laid out in front of the ATM, providing a unique experience for its users to mark this significant milestone.

Shepherd-Barron invented the future when he said…

What is interesting to note is that Shepherd-Barron’s talent for shaping and foreseeing the future extended beyond his invention of the ATM. During an interview with BBC Business in 2007, a mere three years prior to his passing at the age of 84, this pioneering inventor made a bold prediction as we quote,

“We will soon be swiping our mobile phones at till points, even for small transactions.”

Well, we are living that future, today.

Also read: 27 Great Inventions Made By India And Adopted By Whole World