In West Germany, the first ATM was installed in the 50,000-people university city of Tübingen on May 27, 1968, by Kreissparkasse Tübingen. It was built by Aalen-based safe builder Ostertag AG in cooperation with AEG-Telefunken. Each of the 1,000 selected users were given a double-bit key to open the safe with "Geldausgabe" written on it, a plastic identification card, and ten punched cards. One punch card functioned as a withdrawal slip for a 100 DM bill, the maximum limit for daily use was 400 DM.
In West Germany the first ATM was installed in the 50000-people university city of Tübingen on May 27 1968 by Kreissparkasse Tübingen It was built by Aalen-based safe builder Ostertag AG in cooperation with AEG-Telefunken Each of the 1000 selected users were given a double-bit key to open the safe with "Geldausgabe" written on it a plastic identification card and ten punched cards One punch card functioned as a withdrawal slip for a 100 DM bill the maximum limit for daily use was 400 DM