What are the difference between financial and non financial transactions on the atm?
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Answered by
35
Non-financial transactions(NFTs) involve no transfer of funds between accounts. Change of user details, balance inquiry, mini statement printing, PIN change and cheque book request are the NFTs at ATM.
Financial transactions involve transfer of funds between accounts. Cash withdrawl and transfer money to other account are financial transactions at ATM.
The difference is no money will be debited or credited immediately from our account if we do any of the NFTs. In case of financial transaction ATM, money will be debited.
Financial transactions involve transfer of funds between accounts. Cash withdrawl and transfer money to other account are financial transactions at ATM.
The difference is no money will be debited or credited immediately from our account if we do any of the NFTs. In case of financial transaction ATM, money will be debited.
Answered by
8
Non-financial transactions involve facilities such as knowing the balance status, changing the four-digit ATM pin, inquiring about the mini statement, and booking a Fixed Deposit.
Financial transactions on ATM means getting cash from ATM machine by entering your details using your ATM card. Money payment, money withdrawal comes under financial transactions. All the financial transactions include monetary exchanges.
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