(According to the article written by Invention & Technology’s Mike Lee, John Shepherd-Barron — the cash dispenser’s inventor qq claims that the paper vouchers are actually checks impregnated with Carbon 14.)

1968 — Card-eating: Barclays and a few other banks introduce a machine that encodes cash on plastic cards purchased from a teller. The problem is that the machine always eats the cards, and customers have to buy new cards if they want to make more transactions.

Diebold's early ATM, called a TABS machine.

1969 — First use of ATM magstripe cards: Docutel installs its Docuteller machine at New York's Chemical Bank. The installation marks the first use of magnetically encoded plastic.

Chemical Bank's ad campaign announces: "On Sept. 2, our bank will open at 9:00 and never close again!"

Other manufacturers get into the game, but Docutel is the first to apply for a patent. Docutel is later credited by the Smithsonian’s National Museum of American History as being the ATM’s inventor. But most people in the industry recognize Docutel’s first machine as the first modern magstripe machine.

Donald C. Wetzel is given credit for developing the Docutel machine, which is initially met with resistance from bankers. Bankers say they’re concerned about the machine’s cost, which is about $8,000 more annually than a human teller. The bankers also fear that customers won’t like having a machine handling their money.

1971 — First true bank ATMs: Docutel introduces its Total Teller, the first true fully functioning bank ATM.

1973 — Proliferation begins: By 1973, 2,000 ATMs — mostly from Docutel- are operating in the United States. They sell for about $30,000 each.

Diebold begins work on the development of its TABS 600 with plans for an off-line prototype.

1974 — Diebold’s first TABS 500 machine, an off-line version, is installed at a bank in Atlanta.

Diebold develops the TABS 550, an on-line and off-line version. The flexibility of the machine makes it unique and more marketable to banks.

The TABS 600 also is developed.

1978 — The first IBM-compatible Diebold machine is installed at a bank in Indianapolis.

1990 — The number of units nationally from approximately 110,000 in 1996 to nearly 230,000 by the end of the century, now, the number is approaching 500,000 with over 80% belonging to the private sector.  The ATM Industry Association states there will be 1,000,000 ATMs in the U.S., by 2020.