Your Daily Facts about ATM Machines
Numerous inventors contributed to the evolution of ATM (automated teller machine), and the first ones were John Shepherd-Barron (Scottish inventor), Luther George Simjian (USA) and Don Wetzel (USA).
The first magnetic stripe card ATM was installed at New York’s Chemical Bank in 1969. To protect this first cash dispenser from harsh weather conditions they covered it with canopy.
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 today there’s one ATM for every 284 American households.
ATM customers spend an average of 20 to 25% more than non-ATM customers.
Indoor and free standing ATMs are the most widely used types of machines, followed by drive through machines.
The most popular day for ATM usage is Friday.
Half of adult Americans use ATM machines on a regular basis; higher income Americans use them most often.
Among people that use both credit and debit cards, debit cards are used most often. 5.9 times per month versus 5.1 times per month.
40% of regular ATM users will visit a machine an average of 10 times per month.
60% of Americans between the ages of 25 and 34, and 51% between 35 and 49 use ATMs an average of 8 times a month.
The average withdrawal is $60.00.
According to a recent survey, 43% of customers prefer to receive cash from ATMs regardless of whether or not their bank is open or not.
