ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -What Is a Withdrawal? A withdrawal involves removing funds from a bank account, savings plan, pension, or trust. In some cases, conditions must be met to withdraw funds without a penalty. A penalty for an early withdrawal usually arises when a clause in an investment contract is broken.

Detailed explanation-2: -A debit card allows you to withdraw money from their Automated Teller Machines (ATM) any time of the night or day, all through the year. As a result, you can avoid making a trip to a bank branch during banking hours. To withdraw money from an ATM, you just need to insert your debit card and type in a unique password.

Detailed explanation-3: –Traditionally, you will need a card to use an ATM, but some banks provide other options.-Insert the card into the slot on the machine.-Navigate options either using the touch screen or with the number keypad.-Most accounts have daily withdrawal limits, and most machines only dispense cash in multiples of 100.