Final answer:
The daily ATM cash withdrawal limit disclosed to members is the maximum amount of money that a customer can withdraw from their account in a single day. MAX sets a maximum limit at a higher amount to ensure potential fees at foreign ATMs are covered.
Step-by-step explanation:
The subject of this question is Business and the grade level is High School.
The daily ATM cash withdrawal limit disclosed to members is the maximum amount of money that a customer can withdraw from their account in a single day. The daily limit is usually set by the bank or financial institution and can vary depending on the type of account and the customer's banking relationship.
This limit is disclosed to members to ensure that they are aware of the maximum amount they can withdraw on a daily basis.
On the other hand, MAX sets a maximum limit at a higher amount to ensure potential fees at foreign ATMs are covered. When customers withdraw money from an ATM that is not affiliated with their bank, they may incur additional fees or charges. By setting a higher maximum limit, MAX is allowing its members to withdraw a larger amount of cash to cover any potential fees they may encounter when using a foreign ATM.