<P> On September 2, 1969, Chemical Bank installed the first ATM in the U.S. at its branch in Rockville Centre, New York . The first ATMs were designed to dispense a fixed amount of cash when a user inserted a specially coded card . A Chemical Bank advertisement boasted "On Sept. 2 our bank will open at 9: 00 and never close again ." Chemical's ATM, initially known as a Docuteller was designed by Donald Wetzel and his company Docutel . Chemical executives were initially hesitant about the electronic banking transition given the high cost of the early machines . Additionally, executives were concerned that customers would resist having machines handling their money . In 1995, the Smithsonian National Museum of American History recognised Docutel and Wetzel as the inventors of the networked ATM . </P> <P> The first modern ATM was an IBM 2984 and came into use at Lloyds Bank, High Street, Brentwood, Essex, the UK in December 1972 . The IBM 2984 was designed at the request of Lloyds Bank . The 2984 Cash Issuing Terminal was the first true ATM, similar in function to today's machines and named by Lloyds Bank: Cashpoint . Cashpoint is still a registered trademark of Lloyds Banking Group in the UK but is often used as a generic trademark to refer to ATMs of all UK banks . All were online and issued a variable amount which was immediately deducted from the account . A small number of 2984s were supplied to a U.S. bank . A couple of well known historical models of ATMs include the IBM 3614, IBM 3624 and 473x series, Diebold 10xx and TABS 9000 series, NCR 1780 and earlier NCR 770 series . </P> <P> The first switching system to enable shared automated teller machines between banks went into production operation on February 3, 1979, in Denver, Colorado, in an effort by Colorado National Bank of Denver and Kranzley and Company of Cherry Hill, New Jersey . </P> <P> The newest ATM at Royal Bank of Scotland allows customers to withdraw cash up to £ 130 without a card by inputting a six - digit code requested through their smartphones . </P>

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