Tuesday, August 08, 2006

6/26-30/2006 - Gary, IN

In the wake of the Gold Rush, Henry Wells and William Fargo saw the opportunity for a banking and delivery store, and so a National Icon was formed. From the Pony Express to the Butterfield Line, Wells, Fargo and Company became synonymous with secure transportation.

In 1888, Wells-Fargo became the first nationwide express company. By 1910 it had 6,000 locations and by 1918 it had swelled to 10,000.

As the times changed, Wells-Fargo changed with it. A short list of the banking innovations pioneered by Wells-Fargo:
  • Drive-up tellers
  • Banking by phone
  • Express lines
  • Credit cards
  • Automated teller machines
  • Online banking

Or at least, that's what the Wells-Fargo website would like to imply. Technically, all it says is:

New banking concepts not only changed where people banked, but also how they banked. Drive-up tellers, banking by phone, express lines, credit cards, automated teller machines and online banking are some of the innovative solutions to modern customers’ needs. As in the stagecoach days, Wells Fargo has been a pioneer in bringing banking convenience to its customers.


They never quite manage to say that Wells-Fargo had anything to do with these innovations. According to this website, Chemical Bank had the first working ATM. This website says that Hillcrest State Bank was the first to the drive through. The first bank issued credit card? Flatbush National Bank.

Hmmmm.

60,900 flim-flamming steps today. Cheers,

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