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In Banking Terms What Does ATM Mean?

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18 Answers

Anonymous Profile
Anonymous answered
Well it also Stands for “atmospheres” which you see on the back of some watch.
Like 3ATM,5ATM & so on.
Most Skagen and Pronto Watches are rated at 3ATM, 5ATM or 10ATM for water resistance. What does this rating mean?

ATM or “atmospheres” is the amount of pressure a watch can withstand before leaking. A 3ATM watch will withstand pressures equivalent to about 30 meters, or 100ft under water. It is important to note that this is a measure of pressure NOT depth. For example, the pressure from the water coming from the shower hitting the seals of the watch is far greater than 3 atmospheres.

The following are “real world” examples of the water resistance of each rating:

3ATM - Water resistant to 30 meters (100 feet). Will withstand splashes of water or rain but should not be worn while swimming or diving.

5ATM - Water tested to 50 meters (165 feet). Suitable for showering or swimming in shallow water.

10ATM - Water tested to 100 meters (330 feet). Suitable for swimming and snorkeling.

Not Water Resistant
You will know that your watch is NOT water resistant if there are no markings on the watch.
Shezan Shaikh Profile
Shezan Shaikh answered
In banking terms the 'ATM' stands for the 'Automated teller machine' or the 'Automatic teller machine'. The ATMs are computerized telecommunication devices that allow the users or the account holders of a certain bank to access their account from these machines. The ATMs are also a safe way to withdraw cash. Some ATM machines also allow the user deposit cash or cheques in their account. They also let users transfer money from one bank account to another.

The ATM was developed and built by 'Luther George Simjian' in the year 1939. This ATM was built in New York and installed in the 'City Bank of New York'.

Due to the advancement of technology most of the banks give their users a plastic card (ATM-Card). This card needs to be put in to the machine to withdraw money. The card makes the operation even safer as it demands a Pin code to withdraw the cash. So even if the card is lost it cannot be used by some one else, as the Pin is only known by the account holder.
thanked the writer.
Anonymous
Anonymous commented
Atm is simply refers to as automated teller machine that facilitates direct debit
Brandy Thompson
Brandy Thompson commented
ATM means an automated teller machine (ATM) is an electronic banking channel, which allows customers to complete basic transactions without the serve of a branch courier or banker. Anyone with a credit card or debit card can access most ATM.
Ankit Srivastava Profile
ATM means AUTOMATIC TELLER MACHINE. No need to go to bank to withdraw your money.
Anonymous Profile
Anonymous answered
Automatic teller Machine
Rajesh Shri Profile
Rajesh Shri answered
ATM or Automated Teller Machine is believed to have been first developed in New York by Luther George Simjian and used by the City Bank of New York in 1939 though the system had to be discontinued as it was not popular with customers. The first official use of the ATM was in London, UK by Barclays Bank with the first machine being installed on June 27, 1967. T

The machine was developed by the British company De La Rue with John Shepherd-Barron being credited with its invention although the claim is often disputed as Luther George Simjian had registered a patent for his device in the 1930s.

The first ATM's could be used by way of tokens that could be used only once and which after inserting were retained by the machine. The introduction of the personal identification number (PIN) that could be stored on magnetic stripes embedded on cards used to access the machines led to the ATM system being widely used.
Anonymous Profile
Anonymous answered
Effect of atm in nigeria commercial banks
Anonymous Profile
Anonymous answered
Is it Automated Teller Machine? Or is it AnyTime Machine. Because it also allows you the convience of getting money from the bank at 3am when the bank is surely closed...
Edward Franklin Profile
Edward Franklin answered
An experimental Bankograph was installed in New York City in
1961 by the City Bank of New York, but removed after 6 months
due to the lack of customer acceptance. Then, A first cash dispensing device was used in Tokyo in 1966.
Alex Rad Profile
Alex Rad answered
Most Watches are rated at 3ATM, 5ATM or 10ATM for water resistance. What does this rating mean?

ATM or “atmospheres” is the amount of pressure a watch can withstand before leaking. A 3ATM watch will withstand pressures equivalent to about 30 meters, or 100ft under water. It is important to note that this is a measure of pressure NOT depth. For example, the pressure from the water coming from the shower hitting the seals of the watch is far greater than 3 atmospheres.

The following are “real world” examples of the water resistance of each rating:

3ATM - Water resistant to 30 meters (100 feet). Will withstand splashes of water or rain but should not be worn while swimming or diving.

5ATM - Water tested to 50 meters (165 feet). Suitable for showering or swimming in shallow water.

10ATM - Water tested to 100 meters (330 feet). Suitable for swimming and snorkeling.

Not Water Resistant
You will know that your watch is NOT water resistant if there are no markings on the watch.

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