27th June 1967, North London
Reg Varney withdraws £10 in crisp £1 notes from our Enfield branch making it the world’s first cashpoint transaction.
As the first bank to dispense money from a “hole in the wall”, Barclays has secured a place in history. And for John Shepherd-Barron, the man who came up with the idea, it wasn’t a bad effort for a first ever invention.
Mr Shepherd-Barron had been frustrated by the fact he couldn’t get access to his money outside banking hours. Inspiration struck while he was in the bath. He hit on the idea of a chocolate bar dispenser – but replacing chocolate with cash. Barclays was convinced immediately – and the deal was sealed over a pink gin.
The machine paid out up to £10 a time – then quite enough for a wild weekend. And Reg Varney, star of On The buses, was the first person to withdraw that amount – from a branch of Barclays in Enfield, surrounded by excited crowds.
It caught on. Now there are more than 1.6 million cash machines worldwide. Mr Shepherd-Barron grasped the importance of his invention only when he visited Chiang Mai in northern Thailand. After watching a farmer arrive on a bullock cart, remove his wide-brimmed hat and draw out cash, the inventor realised he’d changed the world.
