{"id":17871,"date":"2014-04-17T09:01:39","date_gmt":"2014-04-17T13:01:39","guid":{"rendered":"http:\/\/devwp.davison.com\/blog\/?p=17871"},"modified":"2025-12-16T15:28:20","modified_gmt":"2025-12-16T20:28:20","slug":"dispensing-some-facts-about-the-invention-of-the-atm","status":"publish","type":"post","link":"https:\/\/www.davison.com\/blog\/dispensing-some-facts-about-the-invention-of-the-atm\/","title":{"rendered":"Dispensing Some Facts about the Invention of the ATM"},"content":{"rendered":"

Today, you might have already paid a visit to an automatic teller machine. If you aren\u2019t entirely sure what we are talking about, an automatic teller machine is otherwise known as an ATM.<\/p>\n

The invention of the ATM has allowed people across the world to access their money wherever and whenever they need it.
\nSo, we are going to dispense some knowledge about the invention of the ATM. There are differing stories and timelines of when the idea for the invention of the ATM came to be.<\/p>\n

Today, we are going to take a look at three of the most common invention stories. First, we are going to start with a not-so-successful attempt, Luther Simjian\u2019s 1939 patenting of an early prototype of the invention. Then, we are going to explore the person who countless experts believe held the earliest patent for a modern ATM, James Goodfellow. Finally, we will take a look at John Shepherd-Barron, who also had an invention idea for a 24\/7 cash dispenser.<\/p>\n

\"\"<\/span><\/p>\n

Now, it\u2019s time to withdraw some more details about each of the three most notable inventors of the ATM.<\/p>\n

Let\u2019s start with Luther Simjian. His invention idea was creating a \u201chole-in-the-wall machine\u201d that would allow customers to make financial transactions. In 1939, he applied for 20 patents that were related to his invention. He also field tested his ATM machine in what is now known as Citicorp. However, six months later, the bank noted that there was little demand for the new invention idea and refrained from using it.<\/p>\n

Next, James Goodfellow was given a project while he was a development engineer with Smiths Industries Ltd. in 1965. The project that he was given was to invent and develop an automatic cash dispenser. In conjunction with another company that would provide the secure physical housing, the team also was to develop a mechanical dispenser apparatus. The newly-designed system that he developed consisted of an encrypted card that the machine would read. To support this mechanism, he added a numerical keypad. This invention was given a UK Patent. Additionally, this invention also was covered by a US Patent and a few other patents that were granted by many other countries.<\/p>\n

To this day, 40 years later, Goodfellow\u2019s US patent still describes the basic ATM function.<\/p>\n

\"\"<\/p>\n

According to BBC News, John Shepherd-Barron is widely credited with the actual invention of the ATM. In this case, the world\u2019s first ATM was installed right outside of North London in a branch of Barclays Bank in 1967.<\/p>\n

At first, his invention was known as De La Rue Automatic Cash System (DACS) which was named after the company who produced the first ATMs.<\/p>\n

Despite the fact that many names have been credited with the invention of the ATM, whether it was Simjian, Goodfellow or Shepherd-Barron, there is one commonality and that is that all of their ideas were molded into the ATMs that we use in this day and age!<\/p>\n

Copyright Davison 2014<\/em><\/p>\n

Sources:<\/strong><\/p>\n

http:\/\/inventors.about.com\/od\/astartinventions\/a\/atm.htm<\/p>\n

http:\/\/www.atminventor.com\/<\/a><\/p>\n

http:\/\/inventors.about.com\/od\/astartinventions\/a\/atm_2.htm<\/p>\n

Images:<\/strong><\/p>\n

http:\/\/img.timeinc.net\/time\/photoessays\/2009\/top10_money\/atm.jpg<\/a><\/p>\n

http:\/\/blog.parkcommunity.com\/wp-content\/uploads\/2014\/01\/atm1.jpg<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Today, you might have already paid a visit to an automatic teller machine. If you aren\u2019t entirely sure what we are talking about, an automatic teller machine is otherwise known as an ATM. The invention of the ATM has allowed people across the world to access their money wherever and whenever they need it. So, …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[1685,1686,1687,1478,8,1688,1689,1690,752],"class_list":["post-17871","post","type-post","status-publish","format-standard","hentry","category-inventions","tag-atm","tag-atm-machine","tag-citicorp","tag-innovative-invention","tag-invention","tag-invention-prototype","tag-james-goodfellow","tag-luther-simjian","tag-prototype"],"acf":[],"yoast_head":"\nDispensing Some Facts about the Invention of the ATM - Davison<\/title>\n<meta name=\"description\" content=\"Davison confidentially works with people to develop their new product ideas. The inventions have sold in Wal-Mart, Target, Lowes, Amazon and more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.davison.com\/blog\/dispensing-some-facts-about-the-invention-of-the-atm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dispensing Some Facts about the Invention of the ATM - Davison\" \/>\n<meta property=\"og:description\" content=\"Davison confidentially works with people to develop their new product ideas. 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