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It means that, instead of paying something in person, funds were transferred electronically from one account to another. For example - suppose you wanted to pay a bill. Rather than withdraw the funds in cash from your account - and pay the bill in person, you can electronically transfer the money from your account to the account of the company who's bill it is.

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Q: What is the meaning of By Transfer in ATM ministatement?
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In computing;Asynchronous Transfer Mode(ATM)But in India;Automated Teller Machine(ATM)


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