Which method of currency exchange gives a person access to cash both day and night?Cash to cashCredit cardsATMTraveler's checks
Question
Which method of currency exchange gives a person access to cash both day and night?
- Cash to cash
- Credit cards
- ATM
- Traveler's checks
Solution
Analyzing the Options
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Cash to cash: This method typically requires the physical presence of both the buyer and seller, which limits accessibility, especially outside of regular business hours.
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Credit cards: While widely accepted, they require a merchant to process the transaction. Access to cash is not immediate and usually requires identification and sometimes additional fees for cash advances.
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ATM: Automated Teller Machines allow individuals to withdraw cash at any time, day or night, provided they have a bank card and the machine is in working order. This method provides 24/7 access to cash directly.
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Traveler's checks: These can be difficult to cash and often require the presence of bank personnel. Like cash to cash, they are not readily available at all hours.
Conclusion
Given the analysis, the method that provides a person access to cash both day and night is ATM. This option allows for immediate cash withdrawal without the limitations that affect the other methods.
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