Security should be in our hands like an individual needs to present when cash is being withdrawn from your account.
If you are not physically present while the cash is being withdrawn from your account then there should be written consent.
Also, this can only be done in a few cases:
- Senior citizen
- The account owner is not well
In cases like this, you can give permission to someone who you can trust in the matters of money.
Let’s see some ways through which we can withdraw cash:
Using ATM: most easiest way to withdraw money and generally everybody uses this method only.
Withdraw money from ATM without a Debit card: in any case, your card is misplaced then many banks will still allow you to withdraw cash through mobile phones, etc.
Withdraw money from the bank in person: one more way is if your card is stolen or misplaced then simply you can go to the branch and talk to a teller.
Online Banking: mostly all the banks give access of the payment through online modes and automatic transactions is also available.
Mobile Apps: this totally depends on the banks as some banks have the feature and some don’t have.
Cheques: before all these facilities, cheques was the only option available for people.
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