Automatic Teller Machines or ATMs are something that we cannot live without in the 21st century; it truly defines today’s self-serving culture and helps people withdraw cash in the remotest of locations.
ATMs still continue to be an important way to make physical monetary transactions and billions of transactions are made on a daily basis. Although digital payment services are the future, it will take a long while before ATMs find their space in museums.
While there are still doubts on who built the first ATM, an article on TIME magazine pointed out that John Shepherd-Barron devised the first one. However, the Guardian suggested that a man named James Goodfellow was the brains behind the first ATM.
It has also been pointed out that the first ATM was commissioned in 1968. Well, over the years, banking technologies has been nurtured and now it is much more advanced in comparison to the old initial money machines. But one thing that remained common was the usage of a personal identification number to recognize an individual’s account/record.
That said, have you ever the mechanism behind ATMs? Well, the video below will show you exactly what happens inside while you easily dial your pin number and cash comes out like magic.
