Friday, September 04, 2009
Happy 40th Birthday, ATM!
The Automated Teller Machine (ATM) in the U.S. turns 40 this month and Wired Magazine compiled some ATM numbers to help commemorate the happy day.
First, while ATMs as most Americans know them now date from 1969, the first "mechanical cash dispenser" was deployed thirty years earlier, in 1939. It lasted six months before being removed because no one used it.
The magazine estimated that there are 403,000 ATMs in the world today, that 85% of worldwide financial transactions are made in cash.
In the U.S. there is one ATM for every 761 permanent residents and there are even two ATM's, the magazine reported, at research stations in Antarctica.
Further, in the U.S., 55% of transactions at ATMs are withdrawals, 18% are deposits, 9% are balance inquiries and another 18% are "other," according to Wired.
To learn more, click here.