Money & Banking

World’s first ATM turns 50

Reuters London | Updated on January 12, 2018 Published on June 27, 2017

BARCLAYS-atm-50   -  REUTERS

Barclays bank deployed the machine at its north London branch in 1967

Five decades since it heralded a transformation in the way people obtained and used cash, the world’s first ATM was turned into gold for celebrations of its fiftieth anniversary.

The brainchild of Scottish inventor Shepherd-Barron, the first ATM (automated teller machine) was opened on June 27, 1967, at a branch of Barclays bank in Enfield, north London, the first of six cash dispensers commissioned by the bank.

Actor Reg Varney, who starred in the British comedy show ‘On The Buses’, was the first to withdraw cash from the machine.

There are now an estimated three million cash machines across the globe, with some 70,000 cash machines in the UK alone, which dispensed £175 billion in 2016.

The world’s most northerly machine is at Longyearbyen, Svalbard, Norway, and the most southerly is located at the McMurdo station at the South Pole.

To commemorate the anniversary, Barclays transformed the ATM at its Enfield branch into gold, added a commemorative plaque and placed a red carpet in front for its users.

“Even though recent years have seen a huge uptake of digital banking and card payments, cash remains a crucial part of most people’s day-to-day lives,” said Raheel Ahmed, Head of Customer Experience and Channels at Barclays.

Published on June 27, 2017
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