20. Which of the following statements is NOT correct about most ATM (Automated Teller Machine.) cards?
a.) You can generally get cash 24 hours-a-day.
b.) You can generally obtain information concerning your bank balance at an ATM machine.
c.) You can get cash anywhere in the world with no fee. Fees are the lifeblood of any bank and ATMs are one of the richest sources of fees. Using a debit card draws down your balance and is often not entered into check registers. Once checks are written on balances that are too low, new overdraft fees are tallied against the cardholder. Using ATMs that are not part of your bankıs system can also charge fees for their use. Most folks donıt do the math on these transactions. Consider a twenty dollar withdrawal. If the machine prompts you to accept a $1.50 charge, you will have agreed to withdraw $21.50 from you account. That money cost you 7.5%. That is a lot for convenience. Most stores with debit machines charge nothing for a withdrawal with a purchase. d.) You must have a bank account to have an ATM Card.
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