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.
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The first mechanical cash dispenser was developed and built by Luther George Simjian and installed in 1939 in New York City by the City Bank of New York, but removed after 6 months due to the lack of customer acceptance.
Thereafter, the history of ATMs paused for over 25 years, until De La Rue developed the first electronic ATM, which was installed first in Enfield Town in North London, United Kingdom on 27 June 1967 by Barclays Bank.