ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -To easily withdraw from or deposit cash to your checking account, you can use your debit card at an ATM. The first thing you need to do is insert your debit card into the ATM. Next, for security purposes, you will be prompted to enter the PIN number you chose for the card.

Detailed explanation-2: -Debit cards differ from credit cards in that the money attached to the debit card comes directly out of a checking account rather than being borrowed and paid later. A key feature of debit cards is that they allow you to make withdrawals easily at ATMs by entering a pre-set PIN¥.

Detailed explanation-3: -Multiple technologies can allow you to withdraw money from an ATM without a debit card. Although not every bank has adopted cardless ATMs, they can be found at some larger financial institutions. If your bank has cardless ATMs, you can use your bank’s app for easy access and verification.

Detailed explanation-4: -Automated teller machines (ATMs) link your debit card to your checking account, giving you full access to your funds. As most machines accept all cards, you can most likely use any ATM, no matter who you bank with.

Detailed explanation-5: -Insert your debit card into the appropriate ATM slot and type in your PIN to access your account. Select “withdrawals” on the screen. Enter the amount of money you’d like to withdraw. The ATM will notify you of any fees you’ll be charged for making a withdrawal. More items