Table of Contents
What is the advantage of ATM machine?
The ATM provides service round the clock. The customer can withdraw cash up to a certain limit during any time of the day or night. The ATM gives convenience to bank customers. ATMs provide convenience to the customers.
What is not an advantage of ATM?
Cannot be provided in rural areas: In a country like India, where banks are having large number of rural and non-computerized branches, ATM services cannot be provided. Limitation of cash withdrawals: Again there is a limitation of cash withdrawals from ATM.
What are the limitations of ATM?
The limitations of ATM are as follows : a) Limitation on Withdrawals : Cash withdrawals for large amount are not permitted. It is restricted by the amount fixed for the card. b) Restriction on Cash Dispensations : Cash dispensations are generally restricted to certain denominations of currency.
What are the advantages and disadvantages of home banking?
Pros and Cons of Online Banking
| Advantages | Disadvantages |
|---|---|
| It is fast and efficient. Funds get transferred from one account to the other very fast. You can also manage several accounts easily through internet banking. | Your banking information may be spread out on several devices, making it more at risk. |
What are the advantages of ATM Class 10?
Automated Teller Machine ATM – Advantages of ATM
- ATMs are electronic machines, which are operated by a customer himself to deposit or to withdraw cash from bank.
- ATM provides 24 hours service.
- ATMs provide service round the clock.
- ATMs provide convenience to the customers.
What are the advantages and disadvantages of banking?
Advantages and Disadvantages of Banks
- Advantages of Banks. Safety of Public Wealth. Availability of Cheap Loans. Propellant of Economy. Economies of Large Scale. Development in Rural Areas. Global Reach.
- Disadvantages of Banks. Chances of Bank going Bankrupt. Risk of Fraud and Robberies. Risk of Public Debt.
What are the advantages and disadvantages of mobile banking?
What are the advantages and disadvantages of mobile banking. The advantages of mobile banking include 24/7 access to funds, convenient way of paying bills, taxes, and loans. The top disadvantage of mobile banking is potential security risks, tech issues, and extra charges for services.
What are the advantages and disadvantages of ATM machines?
Below are the advantages and disadvantages of ATM Machines. The biggest advantage of ATM machines is that they allow access to cash at any time. In addition to having a limited amount of time to obtain cash, there was only one way of accessing it before 1967, through visiting the nearest bank.
What are the advantages and disadvantages of machines?
Machines make any task an easy job and they enable Large Scale Production. Many companies today are producing products in large mass with the help of machines. Machines run and fulfill our requirements for years and years.
Why is a good quality machine an asset?
A good quality machine gives the promised output in promised time with promised efficiency. When large scale production is possible with less investment in less time, the selling prices of the products also decrease accordingly. As a whole, Machines have become a valuable asset for every company.
What are the disadvantages of automated teller machines?
The other disadvantage of Automated Teller Machines is that they may become obsolete. ATM machines may slowly become obsolete due to the use of debit, credit cards, mobile money and internet banking. Transactions are becoming more digital and the use of physical cash is slowly declining.