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And for today's history lesson:
On this day in history, September 2, 1969 America's first automatic teller machine (ATM) was opened for business at Chemical Bank in Rockville Center, NY. and the banking system has never been the same since. Slow to catch on at first, by the 1980's the machines had replaced the need for bank tellers to receive deposits, cash checks, or transfer money between accounts. They have expanded into hospitals and gas stations and convenience stores and cruise ships and malls and shopping centers and are as indispensable to most people as cell phones and e-mail. Even the banks have ATM machines outside so you don't have to go inside to do a banking transaction.
Coupled with on line banking, direct deposit, automatic bill pay, and debit machines everywhere, many of us rarely go into a bank anymore and may go weeks or months without ever writing a check. It is inevitable that we are moving toward being an entirely cashless society. (No, I don't mean broke though there is that too. )
The younger generation can't remember a time when we didn't have these machines. But I bet some of us are old enough to remember the real fear and trepidation we felt when we first stuck our ATM card into one of the machines to make a cash withdrawal, and even more so the first time we put our pay check into the envelope and stuck it into the machine as a deposit. It did take some emotional adjustment to learn to trust them.
On this day in history, September 2, 1969 America's first automatic teller machine (ATM) was opened for business at Chemical Bank in Rockville Center, NY. and the banking system has never been the same since. Slow to catch on at first, by the 1980's the machines had replaced the need for bank tellers to receive deposits, cash checks, or transfer money between accounts. They have expanded into hospitals and gas stations and convenience stores and cruise ships and malls and shopping centers and are as indispensable to most people as cell phones and e-mail. Even the banks have ATM machines outside so you don't have to go inside to do a banking transaction.
Coupled with on line banking, direct deposit, automatic bill pay, and debit machines everywhere, many of us rarely go into a bank anymore and may go weeks or months without ever writing a check. It is inevitable that we are moving toward being an entirely cashless society. (No, I don't mean broke though there is that too. )
The younger generation can't remember a time when we didn't have these machines. But I bet some of us are old enough to remember the real fear and trepidation we felt when we first stuck our ATM card into one of the machines to make a cash withdrawal, and even more so the first time we put our pay check into the envelope and stuck it into the machine as a deposit. It did take some emotional adjustment to learn to trust them.