Today’s seemingly natural banknote dispensers (ATMs), with significant security systems, were not always as reliable. In this article we will remember the serious bugs of the first types, while also remembering a Hungarian ATM baker.
The world’s first ATM was installed on 27 June 1967 in London by Fine Baclays Bank. According to the story, the director of one of the subsidiaries of De La Calzada, a manufacturer of equipment, came up with the idea that they could also serve machines to meet customers’ cash requirements. So he asked the director of his parent company, De La Calzada, to give him 90 seconds before lunch so he could come up with his idea of a 24-hour cash machine. His colleague measured the time: 72 seconds was enough to convince the director. After that, the development could start soon, which lasted for almost 3 years.
However, these machines were still very rudimentary, so shortly after the London debut, an ATM equipped in Switzerland began to spend money on its own, which residents in the area were delighted with. She didn’t need to be a guide to realize that the electric traversing of the street was causing the machine to do this irresistible charity, with its electrical disturbances caused by its pantograph. However, those who were beginning to study their electric schedule with an approach optimized for accurate charity times were quickly discouraged by quickly correcting the problem.
Where was the first ATM?
However, not only the British but also the Americans feel the invention of the ATM, so a couple of baks have been trying to develop it in parallel with the English. The ceremonial inauguration of the first ATM in the United States was a great success, but it was not long after the storm broke out that the ATM was soaked and the bank’s project manager was forced to continuously wipe off water from the machine in the room behind the machine. At that time, it turned out that the designers had no idea of rain protection in the closed development room, so the card reader and cash dispenser slot were placed vertically in the machine, so that the rainwater flowed in perfectly. This was the story that today these slots are placed horizontally on all ATMs.
Later, a Texas bank wanted to set up its first ATM with a large public squadron, inviting TV, radio and the press. At a very historic moment, the bank president triumphantly inserted the card for the first transaction and then … the ATM immediately swallowed it in front of the live television audience! This might still be the case, but this ATM wanted to make its own debut very memorable, so he handed it back to the bank manager’s surprise, crumpled and torn.
What about Hungary?
The development of ATMs was not completely uneventful in Hungary either. The experts of one of the innovative domestic banks invented a completely transparent bank card in the early 2000s. The idea seemed good, so they made the first prototype. However, as soon as it was inserted into the ATM, the machine went wrong. The developers of the card did not know that the ATM detected the card with photocells, the transparency of which interfered with the unprepared structure. Perhaps this is the reason why transparent credit cards are somehow not widespread in Hungary …
The initial design faults of the ATMs made many technicians sleepless nights in the sixties and seventies, so when the first-generation ATMs were dismantled, mechanics at one of the ATM manufacturing company Docutel were given the opportunity to taste those parts of the machine at several disruptive parties. crushed into dust, which caused them the most annoyance.
There are 7 reasons for the anti-ATM lobby:
Finally, it is worth looking back to the 1960s, when there was a very strong lobbying against ATMs in the US banking sector. Today, the so-called “fun” looks fun. a list of seven notorious names that drove the sails of the anti-ATM lobby. The seven reasons, which were soon disregarded by all consumers without exception, were:
- No one will have to learn a 4 or 6 digit code to withdraw cash.
- Who will put a plastic card next to your money in your wallet?
- Customers will not find it safe to withdraw money from their bank accounts through a single machine without cashier control.
- Customers do not want to receive cash at any time of the day.
- Banks cannot require customers to learn how to handle cash machines.
- Customers will not use these machines because they will not be able to understand these operations.
- If customers already have a card, they will use it not for cash, but for purchases.