The early machines had limited functions, dispensing fixed amounts of cash in exchange for tokens. In the early 1970s magnetic stripe technology enabled cards to be used to withdraw cash. Nearly half of our personal cash requirements are now obtained from ATMs. Around 5 million withdrawals were made every single day, at an average of 55 each. The banks and building societies have arrangements in place to allow their customers access to their accounts via cash machines owned by other institutions.
Younger people use cash machines more than the elderly.
The under 45s age group are most likely to use a cash machine to withdraw cash rather than go into a branch and cash a cheque. Younger customers also withdraw cash more frequently than older customers. Recent Developments There has been a move in recent years to site machines away from bank and building society branches and place them in locations heavily frequented by customers, such as supermarkets and railway stations. Over 7,600 of the 28,000 machines in Britain are now at non-bank sites. International usage of machines is increasing.