Reg Varney Opens World's First ATM On This Day 1967

 

On this day in 1967, Reg Varney was the first member of the public in the world to use a cashpoint dispenser. This historic occurrence took place at Barclays Bank in Enfield High Street, Middlesex. pic.twitter.com/HAwoCD7b16

— Archivetvmusings (@archivetvmus71) June 27, 2023

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The ATM's Fiftieth Birthday

50 years ago today the world's first ATM was unveiled at a Barclays branch in Enfield, London.

Reg Varney, a celebrity of the time, made the first withdrawal.

Greece Warns Holidaymakers To Take Cash

Despite the recent rearrangement of the deckchairs on the sinking Trireme, wrt the sidelining of Varoufakis, Greece is still very much on the precipice.

Municipalities have refused to comply with the central government's smash and grab raid on local cash reserves, and have demanded to know what the cash will be used for and whether Syriza will be honouring its election pledges.

Faced with the reality of capital controls and bank runs, the Greek tourist board in London has advised holidaymakers going to Greece to take euros in notes and coins in case then ATMs are switched off (which seems very likely in the not too distant future).

The Foreign & Commonwealth Office has weighed in, and said that travellers should take "enough money to cover emergencies and any unexpected delays".

It is going to be long hot summer in Athens this year!

RBS and NatWest To Refund £10M

It appears that some bank customers when withdrawing cash from an ATM are a tad forgetful and, believe it or not, don't actually take the cash dispensed from the machine.

What happens then?

The ATM sucks the cash back in and recredits the customer's account.

Well that's how most banks treat it, except NatWest and RBS which don't; instead, up until now, they have been crediting a "dump account".

However, that seems set to change as Finextra reports that Royal Bank of Scotland and NatWest have set aside a £10M reserve to refund up to 300,000 customers who made a withdrawal at the ATM but walked away without the cash.

The bank is apparently checking its records over the past seven years and will repay the money, plus the interest earned on the sum, to customers who forgot their cash. 

 

This brings a whole new meaning the phrase "bank error in your favour".