ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC INSTITUTIONS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What are three things you can do at an ATM?
A
order more checks, make deposits, cash checks
B
cash checks, send money to others, check your account balance
C
make deposits, withdrawals, transfer funds between accounts
D
get financial counseling, make deposits, order a new debit card
Explanation: 

Detailed explanation-1: -ATMs are convenient, allowing consumers to perform quick self-service transactions such as deposits, cash withdrawals, bill payments, and transfers between accounts.

Detailed explanation-2: -Regardless of the reason, it’s your money and you can easily access it through several different methods, such as using an ATM, cashing a check, making an in-person withdrawal at the teller window, or using a debit card.

Detailed explanation-3: -Protecting Your ATM Card Immediately notify your bank if it is lost or stolen. Keep your Personal Identification Number (PIN) a secret. Never write it down anywhere, especially on your ATM card. Never give any information about your ATM card or PIN over the telephone.

Detailed explanation-4: -Check your account balance. Before withdrawing any cash, it’s a good idea to make sure you have enough money in your account. Withdraw cash. Withdrawal limits vary between independently-owned ATMs and bank-owned ATMs. Deposit cash. Cashing a check.

Detailed explanation-5: -Visit any Union Bank ATM. Select “ Fund Transfer” option from the main menu. Further select “ IMPS Fund Transfer” ATM fetches your registered mobile number on the screen and displays it. Enter beneficiary’s account mobile number. Enter beneficiary’s account MMID. Enter the amount for fund transfer. More items

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