Banking Awareness Set 54 (ATM)

Important Banking Awareness Questions on ATM

Important Banking Awareness Questions on ATM for upcoming banking and insurance exams. SBI PO, IBPS PO, NIACL Assistant, Bank of Baroda, Dena Bank, etc.

  1. Which of the following facility is available at White Label ATM?
    A) Cash Deposit
    B) Regular Bills Payment
    C) Purchase of Re-load Vouchers for Mobiles
    D) PIN change
    View Answer
    Option D
    Explanation
    : Options available at ATMS
    Account Information
    Cash Deposit (Acceptance of deposits are not permitted at WLAs)
    Regular Bills Payment (not permitted at WLAs)
    Purchase of Re-load Vouchers for Mobiles (not permitted at WLAs)
    Mini/Short Statement
    PIN change
    Request for Cheque Book
  2. Which of the following authentication method is used in ATMs?
    A) 2FA
    B) PIN
    C) DFA
    D) PFA
    View Answer
    Option B
    Explanation
    : For transacting at an ATM/WLA, the customer inserts /swipes his/her Card in the ATM/WLA and enters his/her Personal Identification Number (PIN).
  3. What is the minimum free transactions that bank has to allow to its customers for using the bank’s own ATMs at any location?
    A) 3
    B) 4
    C) 5
    D) 6
    View Answer
    Option C
    Explanation
    : Transactions at a bank’s own ATMs at any location: Banks must offer their savings bank account holders a minimum of five free transactions (including both financial and non-financial) in a month, irrespective of the location of ATMs. *RBI has mandated only the minimum number of free transactions at ATMs. Banks may offer more number of transactions free of cost to their customers.
  4. In the six metro locations a bank has to provide minimum of how many free transactions to customers of other bank at its ATM?
    A) 3
    B) 4
    C) 5
    D) 6
    View Answer
    Option A
    Explanation
    : Transactions at any other banks’ ATMs at Metro locations:In case of ATMs located in six metro locations, viz. Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad, banks must offer their savings bank account holders a minimum of three free transactions (including both financial and non-financial transactions) in a month. * RBI has mandated only the minimum number of free transactions at ATMs. Banks may offer more number of transactions free of cost to their customers.
  5. In non-metro locations a bank has to provide minimum of how many free transactions to customers of other bank at its ATM?
    A) 3
    B) 4
    C) 5
    D) 6
    View Answer
    Option C
    Explanation
    : Transactions at any other banks’ ATMs at Non-Metro locations: At other locations, banks must offer the savings bank account holders a minimum of five free transactions (including both financial and non-financial transactions) in a month at other bank ATMs. So even a balance enquiry will be counted as a transaction. * RBI has mandated only the minimum number of free transactions at ATMs. Banks may offer more number of transactions free of cost to their customers.
  6. What steps should a customer take in case of failed ATM transaction at other bank/white label ATMs, when his / her account is debited?
    A) Inform the banking ombudsman of his area.
    B) Inform the manager of the sponsor bank
    C) Inform the security guard of the ATM
    D) Inform the card issuing bank
    View Answer
    Option D
    Explanation
    : The customer should lodge a complaint with the card issuing bank at the earliest. This process is applicable even if the transaction was carried out at another bank’s/non-bank’s ATM.
  7. What is the time limit for the card issuing banks for re-crediting the customers account for a failed ATM/WLA transaction?
    A) 6 working days
    B) 7 working days
    C) 21 working days
    D) 30 working days
    View Answer
    Option B
    Explanation
    : As per the RBI instructions, banks have been mandated to resolve customer complaints by re-crediting the customer’s account within 7 working days from the date of complaint.
  8. If a bank fails to resolve the re-crediting issue of failed ATM transaction within 7 days of complain then what amount of penalty per day the bank has to pay to the customer?
    A) Rs 100
    B) Rs 50
    C) 10% of the debited amount
    D) Rs 500
    View Answer
    Option A
    Explanation
    : Effective from July 1, 2011, banks have to pay compensation of Rs. 100/- per day for delays in re-crediting the amount beyond 7 working days from the date of receipt of complaint for failed ATM transactions.
  9. What is the limit after which a customer cannot lodge a complaint for failed ATM transaction?
    A) 10 days
    B) 30 days
    C) 60 days
    D) No such limit
    View Answer
    Option D
    Explanation
    : There is no such limit, however after 30 days if a customer lodges the complaint then he will not be entitled the penalty amount of Rs 100 even if the bank delays the re-credit for 7 days.
  10. What does O stands for in WLAO?
    A) Organiser
    B) Operator
    C) Ordinary
    D) Ordinance
    View Answer
    Option B
    Explanation
    : White Label ATM Operator (WLAO)

 

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10 Thoughts to “Banking Awareness Set 54 (ATM)”

  1. sachin shukla@ my turn 2017

    8/10

  2. wont rest until i get success

    What is the time limit for the card issuing banks for re-crediting the customers account for a failed ATM/WLA transaction?
    A) 6 working days
    B) 7 working days
    C) 21 working days
    D) 30 working days
    View Answer
    Option D
    Explanation: As per the RBI instructions, banks have been mandated to resolve customer complaints by re-crediting the customer’s account within 7 working days from the date of complaint.
    @shubhr@Shubhra_AspirantsZone:disqus maam please check this answer and explanation

    1. Suraj

      Answer is 7 days. As in explanation

      1. wont rest until i get success

        Yes sir. Option is D. That is i am saying.it should be B

  3. »••єияιqυє••«

    9/10 Ty 🙂

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