Question

What are the different methods of withdrawing money from the saving bank account?

Answer 1

Answer:

Explanation:

There are three different methods of withdrawing money from the saving bank account. They are

• Withdrawal slip
• Debit card
• ATM

Withdrawal slip:

The most common way of withdrawing money from the saving bank out is through withdrawal slip. It is a slip issued by the bank which is used by the account holder( who has not opted for cheque facility) to withdraw cash from account. This slip contains few details that needs to be filled such as name and signature of account holder, date, amount to be withdrawn in words and figure etc.

Debit card:

Debit cards  are another form of withdrawing money from bank. These cards are linked to account holders account and can be used for making online purchases with or without a personal identification number (PIN). Money can be withdrawn through ATM machine by inserting the card and providing PIN for authentication of the cardholder.

ATM card:

These cards are linked to savings accounts. These cards facilitate in withdrawing money from bank through ATM machine but unlike debit card cannot be used for purchasing. It provides instant cash to the account holder and is accessible throughout the year. One has to insert the ATM card and follow steps as shown on the screen.

Hope this helps

Answer 2

There are three different methods of withdrawing money from the saving bank account.

Withdrawal slip: The most common way of withdrawing money from the saving bank out is through withdrawal slip.

Debit card: Debit cards are another form of withdrawing money from bank.

ATM

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