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Cash can be withdrawn from ATM at any time. - Organisation of Commerce and Management

Cash can be withdrawn from ATM at any time.

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Solution

This statement is True because.

1. Cash Withdrawal: 24/7 access to cash as the customer can withdraw cash from own account at any ATM at any time.
2. But if the customer does not have sufficient balance in his saving or current account then there may be a restriction or he cannot access to withdraw money from ATM.
3. If more than 5 transaction is done through other ATM machines other than one's own bank (The bank in which he/she maintaining account) then extra charges may be levied on the card.
4. Per day some maximum limitation would be given to protect the customer from fraudulent to avoid heavy loss.
5. Apart from this if a customer has sufficient balance in his/her bank account then, he/she may withdrawn money from ATM in any time.

Concept: Function of Commercial Banks
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