ATMs drastically expanded access to checking accounts in the 1960s

The first ATM—dubbed a 'cash dispenser'—was installed in 1967 in London

Specifically, the first ATM (which stands for “automatic teller machine”) made its debut at a Barclays bank in London. A timeline of ATM history can help illustrate and visualize other key events in ATM history.

Explore a visual timeline of fintech’s history and growth

From the debut of the world’s first ATM in 1967, to Apple Pay launching in 2014, financial technologies have come a very long way in a relatively short historical period. A colorful visual timeline highlights some of the most important milestones along the way.

How the checking account has evolved into a platform of features rather than a product

The accounts act as an anchor for customer relationships that banks need to retain said customers. As fintech companies unbundle the checking account without technically being chartered banks, traditional banks face pressure to innovate the checking account experience.

Congress banned banks from paying checking account interest for 80 years

Known as "Regulation Q," the act sought to stop bank competition for customers involving increasing interest rates in the 1930s. This competition led banks to make reckless investment decisions to pay higher interest rates. During the ban, banks competed by focusing on convenience (ATMs, branches), relying on fees, and building relationships.

American Express is credited with inventing the traveler's check

In the 1890s, then American Express President James C. Fargo was frustrated that he couldn't get cash while traveling in Europe outside of major cities. Marcellus Berry, an American Express employee, came up with the idea of a traveler's "cheque": a prepaid check, similar to cash, that requires the signature of both the customer and the receiving institution to be valid. American Express never modernized the spelling of the word "cheque" and stopped providing them at the end of 2020.

Paper check usage is down 83% over 25 years

At the start of the millennium, more than 68 million checks were processed daily. Amid the adoption of automated clearinghouse (ACH) payment systems, that number has sunk to 12 million a day.

Some banks derive half of their income from overdraft fees on checking accounts

The fees are incurred when a customer withdraws more money than is left in the account, typically around $35 per overdraft. One in 11 Americans pays more than $350 a year in such fees, generating tens of billions of dollars each year for banks..

The process of electronic funds transfer was approved in the US in 1978

An electronic funds transfer is the transfering of money from one bank account to another via computer-based systems. When it was first introduced, it was revolutionary. A video from 1980 aimed to explain the value of electronic funds transfer to consumers at the time.

The history of credit cards begins with the 'Fresno Drop.'

On a 1958 morning in Fresno, California, about 60,000 people woke up to find a strange rectangular piece of plastic on their doorstep without explanation. Those chosen for the "Fresno Drop" didn't know it yet, but Bank of America was behind the credit card delivery stunt.

London bankers created the first clearinghouse to process checks in 1770

Until that time, each banker was required to bring that day's checks to every other bank for settlement. Perhaps understandably, the first place bankers opted to gather to clear and settle checks was a tavern known as the Five Bells. The innovation gave rise to what would become clearinghouses, key institutions that facilitate payments.

The first modern payday lending store opened in Tennessee

Check Into Cash Inc. is widely recognized as the first national payday lending company. Originally started by a preacher in Johnson City, it was later popularized by Allan Jones, who founded Check Into Cash in 1993. Jones has since donated a significant amount of money to the city. (Some users may experience a paywall.)

Banks have increased small loan programs since 2018, upping competition for payday lenders

One of the reasons payday lending flourished for nearly two decades is that most banks charged high overdraft fees and didn't offer small loans. However, since 2018, banks have increased their small loan options. Supporters say this provides safer alternatives for consumers, as banks are subject to more regulatory measures and are less likely to allow consumers to keep rolling over loans.

Bank of America helped establish Visa as a global credit card network business after it rolled out its first credit cards.

At the time, those credit cards were called "BankAmericards." Today, Bank of America owns less than a 2% share of Visa—many other banks (as well as institutional investors) help govern and profit from the network.

Electronic trading transformed investing, ushering in a new era for retail investors in which average Americans could research stocks online and then use early platforms like StreetSmart and E-Trade to conduct their transactions

In the early 1990s, stock brokerages knew that online trading would be a great equalizer, creating opportunities for more individuals to buy and sell stocks.

Gas stations top the list of riskiest places to use a debit card

Unlike credit cards, debit cards withdraw funds directly from your checking account, and federal laws provide fewer consumer protections against debit fraud. Gas station "skimmers" and long periods of separation from the card at restaurants are some of the more vulnerable spots for use.

The transatlantic cable allowed for communications between North America and Europe

It had significant impacts on just about every industry, including finance. Specifically, the transatlantic cable made it so that real-time financial transactions could take place across the Atlantic, and allowed for much faster sharing of information that increased global market accuracy.

AI may help the 1.4 billion people worldwide who lack access to basic financial services

Artificial intelligence is fuelling a financial technology transformation in some countries where an outsized number of residents lack access to basic financial services, including Brazil and Nigeria.

Today's massive data centers evolved from single-room mainframes

Punch card computers from the late 1940s were used to store and process a company's data locally before the advent of desktop computers. As the amount of data and company sizes increased alongside the miniaturization of technology, mainframes were replaced by local server rooms and external facilities with interconnected servers running cloud-based and AI software.

While the Fed is involved in issuing new generations of cash, the way it adds to the money supply does not involve printers

The majority of money in circulation is credit, not cash. This credit, which acts similarly to direct deposit from employers, is added to bank accounts by the Federal Reserve. The Fed also employs tools like the federal funds rate and open market operations to expand or contract credit.

Meet Alphonse Desjardins, a credit union pioneer

The first credit union opened in Germany in 1864, but the bank alternative didn’t reach North America until 1901. That’s when Canadian journalist Alphonse Desjardins introduced the concept to his hometown with a starter 10-cent deposit. Desjardins helped launch the first US credit union just eight years later. This engaging timeline highlights Desjardins, his contributions to credit unions, and how the institutions have evolved over the last 100-plus years. Scroll through the timeline here.

Visual Capitalist projects the fastest-shrinking jobs in America by 2034

According to the US Bureau of Labor Statistics, there will be fewer jobs for cashiers, bank tellers, data entry clerks, and more over the next decade.

CES debuted in 1967 amid a wave of miniaturization in at-home electronics

The rapid development of integrated circuits—the basis of computing power—in the 1960s catalyzed an industrial shift toward miniature devices, including pocket transistor radios, smaller TVs, and more. This first consumer electronics trade show (with a slate of 117 exhibitors and 17,000 attendees) sought to make everyday electronics accessible and portable. See a timeline of early consumer tech with photos.

Voting in the US has shifted from days-long journeys to modern, secure ballots

In the early 1800s, voting was limited and arduous, often requiring long travel and in-person balloting. This illustrated resource traces how voting technology evolved to expand access, speed elections, and improve security over time.

Expanding supermarket chains began offering coupons to attract customers in the 1940s

This was partially a customer acquisition strategy devised to lure customers into chains and away from their local independent grocers.

Atlantic City was a major vacation destination in the early 20th century

The city’s boardwalk, filled with amusement parks and vendors, became a significant attraction for vacationing families. The town also became a hub for entertainment, with actors often starting there before heading to Broadway.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

The history of many kitchen appliances involves unexpected discoveries and applications, including wartime radar turned hamster defroster and replacing an 'ice king' with heat-stealing boxes.

In its famous catalog, Sears sold $600 DIY house kits from 1908 through the 1940s, resulting in an estimated 100,000 'Sears and Roebuck homes.'

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

Explore fun facts from the USPS, including unique post office buildings, a stamp that traveled past Pluto, and more.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

A century of Billboard issues documenting the evolution of popular music.

Walt Disney's early film 'Alice's Wonderland' was a groundbreaking innovation in the silent film era

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

Astronauts have repaired genetic damage in space using CRISPR—a molecular tool that can make precise changes to DNA and is used in single-celled organisms to attack invasive viruses.

The story of Dollree Mapp, whose legal challenge over her 1957 conviction for possessing "obscene material" led to a major strengthening of the Fourth Amendment

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

'Saturday Night Fever,' the 1977 film that introduced disco to the mainstream, was based on a fabricated magazine story.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Studies suggest when you sleep is as important as how much you get, and syncing with your circadian rhythms may lead to less fatigue and improved long-term health outcomes