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 said 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 modern 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.
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