Q.Write a short note on: Mobile Banking

Mobile banking is the use of a mobile phone (through a banking app, SMS or USSD) to perform banking services such as balance enquiry, fund transfer, bill payment and mini-statements, giving customers 24x7 access to their accounts without visiting the branch.

Mobile Banking

Mobile banking is a service provided by banks that allows customers to conduct financial and non-financial transactions using a smartphone or mobile device. Through a mobile banking app or SMS/USSD service a customer can check the account balance, transfer funds (NEFT, IMPS, UPI), pay utility bills, recharge a phone, request a cheque book and obtain a mini-statement. It is a part of e-banking and offers the advantages of convenience, speed, round-the-clock availability an …

An A.T.M. (Automated Teller Machine) is an electronic, self-service banking machine that allows customers to perform routine transactions — cash withdrawal, deposit, balance enquiry, mini-statement and fund transfer — round the clock, using a plastic ATM-cum-debit card and a secret PIN, without needing a bank cashier.

Meaning of A.T.M.

A.T.M. stands for Automated Teller Machine. It is a computerised machine provided by banks that lets customers access their accounts and carry out basic banking transactions electronically, 24 hours a day, without the help of a human teller.

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