Definition of the word bank machine

The term "bank machine" originally referred to a mechanical device installed in banks during the late 19th century. These devices, called night depositories, allowed customers to deposit cash and documents securely outside of bank operating hours. The deposits were then counted and recorded by bank staff during business hours. As banking technology advanced in the mid-20th century, ATMs (automated teller machines) were developed as an extension of these night depositories. The first successful ATM, developed by a British inventor named John Shepherd-Barron, was installed in a London branch of Barclays Bank in 1967. At first, "bank machine" and "ATM" were used interchangeably. However, as the technology advanced and the devices became more sophisticated, the term "ATM" became more commonly used to refer specifically to the machine's ability to dispense cash automatically. Today, the term "bank machine" is still used in some contexts, particularly in situations where the device's broader functionality - including deposit and transfer capabilities - is being emphasized. However, in most cases, "ATM" is the more commonly used term.