Canada's first bank machine celebrates its fortieth birthday - MoneySense

Canada’s first bank machine celebrates its fortieth birthday

In the age of iPhone banking, it’s easy to forget that it wasn’t long ago that we had line up for the teller during banking hours just to get out some cash.

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In the age of iPhone banking, it’s easy to forget that it wasn’t long ago that we had line up for the teller during banking hours just to get out some cash. This month Canada’s first bank machine, CIBC’s Instant Teller, turns 40. The first “24-hour cash dispenser” launched in 1969 to save clients the hassle of waiting in lines during banking hours. Clients needed a key to activate the machine, and the could withdraw a maximum of $30.

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