Tuesday, September 2, 2008

On this day, September 2nd-1969, America's first automatic teller machine (ATM) made its public debut, dispensing cash to customers in New York. At that time bankers were not very exited about ATMs, since the cost of one machine was by about $8,000 higher annually than a human teller. Since first ATMs were offline devices not connected by a computer network with client's account, the banks were giving privileges of using money machines to card holders with good banking records only. According to Fortune magazine, today there's one ATM for every 284 American households.

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