The first ATM was unveiled at a branch of Barclays in Enfield in north London on 27 June 1967.

Barclaycash was the UK’s first automated cash point and Reg Varney of ‘On The Buses’ fame was the first person to withdraw cash from the machine.

Barclays being the first bank to install a cash machine and Reg Varney being the first person to withdraw cash is basic Payments 101 stuff.

Barclaycash was the UK’s first automated cash point

But, did Barclays invent the ATM or did they narrowly beat someone else to the first ATM crown?

In a BBC Sounds podcast you’ll hear James Goodfellow tell Clare English about his invention of the cash machine and the global impact it had on the banking industry. You’ll also hear that James also patented the Personal Identification Number (PIN) technology which is still fundamentally the basis for modern day cash withdrawals.

The BBC Sounds podcast was first broadcast by BBC Scotland in 2011 and is available until 25 February: https://www.bbc.co.uk/programmes/b013n554

So, if anyone knows why Barclays and Scottish inventor Mr Shepherd-Barron pipped Midland to the ‘first ATM’ crown please let me know.

Best of all was James stating that he never imagined the ATM would be around after circa 50 years.

As we move towards a cashless society maybe James’ assumption is finally not too far off.

Interested in how payments in the UK are changing?

Visit: http://www.cashlessuk.org

Subscribe to my newsletter at: http://northeypoint.com/subscribe/

Leave a Reply

Your email address will not be published.