History of Wells Fargo - Wikipedia
During the California Gold Rush in early 1848 at Sutter's Mill near Coloma, California, financiers and entrepreneurs from all over North America and the world flocked to California, drawn by the promise of huge profits. Vermont native Henry Wells and New Yorker William G. Fargo watched the California economy boom with keen interest. Before either Wells or Fargo could pursue opportunities offered in the Western United States, however, they had business to attend to in the Eastern United States.
Butterfield, Wells and Fargo soon realized that their competition was destructive and wasteful, and in 1850 they decided to join forces to form the American Express Company.
Soon after the new company was formed, Wells, the first president of American Express, and Fargo, its vice president, proposed expanding their business to California. On March 18, 1852, they organized Wells, Fargo & Company, a joint stock company with an initial capitalization of $300,000, to provide express and banking services to California.
"Financed through bank loans, the number of cars in the U.S. doubled to 50 million between 1945 and 1955, and led to the rise of suburbs offering middle-class families more affordable housing with spacious yards and swimming pools."
Wells Fargo launched its pilot ATM project in 1970. Initially, the self-service teller machines only allowed customers to withdraw money. That in itself was viewed as a major advance. No longer restricted to “banking hours,” consumers appreciated the fact that they could access their account day and night, 365 days of the year.
“If you haven’t met Tillie yet, you’re missing out on the easiest, most convenient way to do your banking.”
Ad for “Tillie the All-Time Teller” ATM, National Bank of First Atlanta, 1982