Automatic teller machine
An automated teller machine generates new business. Customers are more likely to seek out a location with an automated teller machine; in addition to convenience, there are a number of safety benefits associated with an in-store automated teller machine, according to survey results published in Petroleum Marketer magazine. An automated teller machine pays for itself. With break-even points below 100 transactions per month, even a low traffic location can more than pay for an automated teller machine from surcharge revenues alone.

The first voucher based cash dispensing machine was installed in 1967 by Barclay's Bank in London. Experts, however, do not consider this an ATM. The first modern day ATM was introduced to consumers in 1969 by Chemical Bank. An automatic teller machine or ATM allows a bank customer to conduct their banking transactions from almost every other ATM machine in the world. Don Wetzel was the co-patentee and chief conceptualist of the automated teller machine, an idea he thought of while waiting in line at a Dallas bank.

At the time (1968) Wetzel was the Vice President of Product Planning at Docutel, the company that developed automated baggage-handling equipment. The other two inventors listed on the patent were Tom Barnes, the chief mechanical engineer and George Chastain, the electrical engineer. It took five million dollars to develop the ATM. The concept of the ATM first began in 1968, a working prototype came about in 1969 and Docutel was issued a patent in 1973. The first working ATM was installed in a New York based Chemical Bank.

In an ATM embodying the invention the speed of issue of a receipt will be much faster than the time taken to issue a detailed receipt. Thus the period of perceived use of an ATM by a customer will be reduced. On the other hand the customer will find that such a receipt will be more reassuring than a receipt for a mere envelope the contents of which are unspecified.