ECONOMICS (CBSE/UGC NET)

ECONOMICS

MONEY

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which statement is FALSE about most ATM (Automated Teller Machine) cards?
A
You must have an account with a financial institution to have an ATM card.
B
You can always get cash anywhere in the world with no fee.
C
You can generally obtain information concerning your account balance(s) at an ATM machine.
D
You can generally get cash 24 hours a day, seven days a week.
Explanation: 

Detailed explanation-1: -What is the Difference Between a Personal Teller Machine and ATM? The Personal Teller Machine offers almost every transaction option available at the teller line while the ATM only offers the ability to make a withdrawal or deposit.

Detailed explanation-2: -Answer: Card is used yo withdraw cash without going to a bank is a facility provided by the bank. Anytime money (ATM) cards, generally known as debit cards are used for withdrawal of cash from the designated ATM machine placed at different locations.

Detailed explanation-3: -If an ATM fails to give you money, report the problem as soon as possible by immediately contacting your bank or credit union. If a bank other than your own card issuer owns the ATM, it may also make sense to contact the ATM owner, but your bank has the ultimate power to fix the situation.

There is 1 question to complete.