ATM cash money machine
Forty years ago Reg Varney (of “UK TV’s On the Buses” fame) changed the face of banking by becoming the world’s first cash machine customer at Barclays Enfield branch in North London. On Wednesday 27th June 2007, the cash machine, ATM, or more colloquial “Hole in the Wall” celebrates its 40th birthday. The original machines, described as mini-banks or cash dispensers, were designed to allow customers access to cash 24 hours a day, outside of the restrictive opening times of banks during the 1960s. The cash machine was created to dispense £10 against a special paper voucher which the customer inserted into the machine followed by a unique 4 digit personal code in much the same way as today. By the end of the 1960s there were 781 cash machines across the world (595 in the UK) by the end of 2006 there were million worldwide (60,642 in the UK).* The machine was invented by John Shepherd–Barron, a managing director of De La Rue, whilst relaxing in his bath one day. He presented the idea to Harold Darvill, Chief General Manager of Barclays, who committed Barclays to buying the machines immediately. The machines were developed jointly by De La Rue and Barclays and swiftly moved from conception to installation within 24 months in order to beat the competition. At the time of the launch in 1967, Celtic had just made history by becoming the first British club to lift the European Cup and the sixties were in full swing with Procul Harum at Number 1 with “A Whiter Shade of Pale.” Colour TV is broadcast for the first time on BBC2 and Elvis has just married Priscilla Beaulieu. When Barclays took the decision to launch the Barclaycash machine that same year, cash was the most popular form of payment and the idea of withdrawing money through the wall was completely alien to the man on the street. John Shepherd Barron, the inventor of the ATM, said: “I am delighted that the cash machine is still going strong. I remember back in 1965 that I would always take money out of m
Size: 3614px × 5400px
Location: Oxford
Photo credit: © Mark Jordan / Alamy / Afripics
License: Licensed
Model Released: No
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