Banking Timeline

  • 1397

    The first bank ever established in the world

  • The first bank was established in the US

  • The first mint in the United States opened in Philadelphia.

  • The first bank established in tenneessee

  • The first bank fraud

  • The first bank established in Alabama

  • Bank of America issues the first credit card.

  • The first successful ATM installed in the USA.

  • Money can now be transferred electronically across computer terminals.

  • The first online bank established in the world

  • Ability to electronically pay your bills on line.

  • Debit cards are introduced.1994

  • Contactless payment cards and “fobs” are developed.

  • You can scan your fingerprint at the checkout stand to pay for items.

  • Being able to carry your credit card electronically on your phone

  • The Card Act passed which provided consumers with a choice regarding overdraft protection.