Historic Moments

Dispensing money like magic

What started with a willingness to test new technologies in the 1970s has led to an innovative fleet of more than 13,000 ATMs.
A black and white image of a man and a woman standing before an early version of an ATM machine. A sign above the machine reads: Automatic Teller Available Soon Ask for a Demonstration.
Featured photo caption: People using an ATM at Central Northwestern National Bank in 1976. Photo Credit: Wells Fargo Corporate Archives.

Wells Fargo currently has more than 13,000 automated teller machines (ATMs) that are known for leading the industry in technology and customer service. Today, customers can even access their money without plastic cards — using just their smartphones and a one-time access code. But it wasn’t always as convenient.

In the summer of 1967, Barclays Bank unveiled its first automatic cash machine at a suburban London branch. This early version of the ATM dispensed money to customers who obtained paper vouchers in advance from tellers. Customers inserted the vouchers into the machine and received cash in exchange.

Wells Fargo and many other banks soon began testing this new machine technology as a way to deliver convenient, 24/7 banking access. For customers holding a plastic ATM or debit card, the machines dispensed money like magic. But back in the ’60s, banking by machine instead of at the teller window was a new experience for most.

Many bank customers were a little apprehensive at first. Banks stationed employees at the machines to demonstrate their use and explain the security features of an ATM card and personal identification number. Some banks even gave their ATM a first name and friendly personality so customers would not feel intimidated when they used the machine. One of the most successful early ATM marketing programs introduced “Tillie the All-Time Teller” to First National Bank of Atlanta customers.

Testing out Wells Fargo ATMs

In July 1970, Wells Fargo began testing its own “Self Serv Teller” at a few branch locations. This cash-dispensing machine was activated with either a special magnetic-striped card or credit card to allow cash withdrawals in amounts of $25 or $50. To test customer acceptance, Wells Fargo even experimented with a machine that dispensed coins.

By 1974, Wells Fargo tested a first generation of ATMs — called “Silver Service” — at several branches in California. These machines offered greater convenience by allowing customers to make deposits or loan payments in addition to obtaining cash — and all that was needed was a plastic card and a secret, personalized code.

Wells Fargo planned to install ATMs at 160 branches over eight years — at a cost of an estimated $48,000 per machine — anticipating an increase in deposit accounts by customers who embraced the convenience of ATM banking. Retail bank management decided to call their first batch of 10 ATMs a test so as not to alert competitors to plans for a larger-scale rollout of the machines. Bankers at the time felt the future of the automated teller machine was still uncertain. “If we experience total failure and remove the machines after six months, we will have spent $1.8 million,” concluded retail bank planners pitching the ATM proposal to bank executives in a 1976 memo.

A street scene with pedestrians walking past a large box on the sidewalk. Signage on the unit says Wells Fargo Bank Self Serve Teller. Image link will enlarge image.
Wells Fargo's Self Serv Teller cash machine in San Diego in 1970. Photo Credit: Wells Fargo Corporate Archives
A woman removes cash from a slot on a wall mounted ATM machine with her right hand. Her left hand holds an ATM card. The machine has multiple buttons and reads Self Serv Teller. Image link will enlarge image.
A close-up view of Wells Fargo's Self Serv Teller in 1970. Photo Credit: Wells Fargo Corporate Archives.
A woman dressed in a yellow polkadot dress and a name tag that reads Tillie stands before a wall mounted ATM machine. Visible on the machine front is a drawing of a woman character that resembles the woman in the picture. Image link will enlarge image.
First National Bank of Atlanta gave its ATM a friendly personality — Tillie the All-Time Teller. Photo Credit: Wells Fargo Corporate Archives.
A woman in a red dress and a man in a grey suit stand before an Instant Cash Machine. Signage to the left reads: Ask Mary Cash About Instant Cash. Image link will enlarge image.
A Minnesota Instant Cash Machine at Central Northwestern National Bank in 1974. Photo Credit: Wells Fargo Corporate Archives.
Two women and a man stand before a white truck branded with Wells Fargo Bank Silver Service on the side. Image link will enlarge image. In the image on the right, a man and woman stand before a wall mounted ATM machine. Together they each hold in one hand an ATM slip. The brick wall behind them has signage that reads: Wells Fargo Bank. Image link will enlarge image.
The Wells Fargo Silver Service ATM mobile demonstration van during a visit to a Buena Park, California, branch in 1974. Photo Credit: Wells Fargo Corporate Archives.
A large ATM machine on a city street is being used by a man while another man waits in line. The machine is decorated in orange and grey and reads TransAction. Image link will enlarge image.
An early ATM at United Bank of Denver. Photo Credit: Wells Fargo Corporate Archives.
An ATM machine is mounted to a marbled wall with a sign that reads: Midland’s Total Teller. A woman stands before the machine grabbing her money as it is dispensed. Additional banking items are mounted to the wall including a trash can, a shelf holding paper and a pen. Image link will enlarge image.
An early ATM at Midland National Bank in Minneapolis. Photo Credit: Wells Fargo Corporate Archives.
Two men in suits and a woman in a western outfit and cowboy hat stand before a wall mounted ATM machine. Image link will enlarge image.
A Wells Fargo ATM in 1981. Photo Credit: Wells Fargo Corporate Archives.
A man and a woman stand beside a man in a wheelchair as he uses a wall mounted ATM machine designed for accessibility. Image link will enlarge image.
Wells Fargo’s first accessible Express Stop ATM in Berkeley, California, in 1982. Photo Credit: Wells Fargo Corporate Archives.

A successful experiment.

The ATM experiment did not fail. In fact, it was a great success and the machines were well-received by customers, according to the company’s 1976 annual report. In 1978, Wells Fargo unveiled a new generation of its branded ATMs called the “Express Stop” in 10 branches east of San Francisco, and began quickly building out its network of ATMs statewide the following year. By 1981, Wells Fargo Bank had 208 express stops up and running in California.

Over the years Wells Fargo’s ATMs have become available throughout the U.S., and today they even support communities by allowing customers to donate to select nonprofits and American Red Cross relief efforts through them. In March 2017, Wells Fargo became the first major bank in the U.S. with an entire fleet of card-free ATMs with its one-time access code technology. Since then, customers have conducted more than one million card-free transactions. Wells Fargo looks forward to paving the way for new technology and better customer service.

Marianne Babal

Marianne Babal is a Corporate Historian for Wells Fargo.

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