The first ATM, called the Bankograph, was created by a well known and patented inventor named Luther Simjian. The Bankograph was made to accept cash or check deposits at any time of the day or night. Simjian sold a few of his Bankograph machines to a New York City bank in 1960, but the idea did not catch on right away. At first, the machines were mainly used by gamblers and prostitutes who didn’t want to cash their money in person. Therefore, there was no real demand for more of the machines.
The next ATM machine to gain popularity was created by an engineer named Donald Wetzel. Wetzel’s version of the ATM used credit cards to carry out transactions. A Chemical Bank branch located on Long Island was the first to install Wetzel’s invention in 1969, where the machine’s use and popularity grew. By 1970, a multitude of banks began installing ATM machines.