A study of 860 u.s. atms (automated teller machines) found that the average surcharge for withdrawals from a competing bank was

Question

2 years ago

12

$1.15. (source: public interest research groups) what is known about the atms from a competing bank?

1 answer:

sp2606 [1] · Answer 1 · 2023-10-26T14:54:31+03:00

The statement is false as the sample is a few ATMs of the total ATMs in US.

An automated teller machine, or ATM, is a customized computer that makes it simple for bank account holders to manage their money. One can use it to print a statement of account activity or transactions, check account balances, withdraw or deposit money, and even buy stamps.
Customers can carry out simple financial transactions using an automated teller machine (ATM), an electronic banking facility, without the assistance of a branch person or teller.
With no assistance from the bank, withdraw money whenever you need to. The consumers' privacy is guaranteed. Rupee withdrawals are quicker than bank withdrawals and do not require standing in long lines. Since no bank employees are involved in the transaction, maintenance costs are lower.
Two primary types of automated teller machines (ATMs) exist. One is a basic, straightforward device that lets you check your balance, change your PIN, obtain small statements, and get account notifications. The more sophisticated units offer possibilities for a line of credit and bill payment and cash or check deposits.

The sample is only 860 ATMs and not total ATMs in US thus, a sample of 860 ATMs have taken and conducted the survey.

Thus, the statement is false as the sample is a few ATMs of the total ATMs in US.

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