In general, people are impatient and lazy. They like to be able to deal with daily chores in as quick and simple a manner as possible. For example, consumers tend to favor appliances such as microwave ovens. These principles are the foundation that Automated Teller Machines (ATM's) were built upon. People wanted a quick and easy way to access their bank account in order to acquire needed monetary funds without dealing with banks and fixed hours of operation.
Traditionally, banks have offered ATM's as a means of providing readily available cash to their clientele on a 7 day a week 24-hour a day basis. Additionally, this service was provided to shift informal transactions away from traditional tellers inside the bank and into the realm of computerized machines. These machines were initially very expensive to purchase, ranging from $30,000 to $60,000 installed and ready to operate. Due to the exorbitant start-up cost of these highly technical apparatuses, traditional locations required over $3,000 in monthly transactions just to cover their operating expenses.
