when did cash machines come into use uk
Automated teller machine It is widely accepted that the first cash machine was put into use by Barclays Bank in its Enfield Town branch in North London, United Kingdom, on 27 June 1967.[18] This machine was inaugurated by English comedy actor Reg Varney.[19] This instance of the invention is credited to the engineering team led by John Shepherd-Barron of printing firm De La Rue,[20] who was awarded an OBE in the 2005 New Year Honours.[21][22] Transactions were initiated by inserting paper cheques issued by a teller or cashier, marked with carbon-14 for machine readability and security, which in a later model were matched with a six-digit personal identification number (PIN).[20][23] Shepherd-Barron stated; "It struck me there must be a way I could get my own money, anywhere in the world or the UK. I hit upon the idea of a chocolate bar dispenser, but replacing chocolate with cash."[20]
Bank of England £50 note Fifty pound notes were introduced by the Bank of England for the first time in 1725. The earliest notes were handwritten and were issued as needed to individuals. These notes were written on one side only and bore the name of the payee, the date, and the signature of the issuing cashier. With the exception of the Restriction Period between 1797 and 1821, when the French Revolutionary Wars and the Napoleonic Wars caused a bullion shortage, these notes could be exchanged in full, or in part, for an equivalent amount of gold when presented at the bank. If redeemed in part, the banknote would be signed to indicate the amount that had been redeemed. From 1853 printed notes replaced handwritten notes, with the declaration "I promise to pay the bearer on demand the sum of fifty pounds" replacing the name of the payee. This declaration remains on Bank of England banknotes to this day. A printed signature of one of three cashiers appeared on the printed notes, although this was replaced by the signature of the Chief Cashier from 1870 onward.[1]