How to Get Cash From an ATM: A Step-by-Step Process

An Automated Teller Machine (ATM) is an electronic banking outlet that allows individuals to complete basic transactions without a bank teller. These machines provide accessible financial services like cash withdrawals and balance inquiries. ATMs offer a quick way to access funds outside of traditional bank hours.

Preparing for Your ATM Visit

Before approaching an ATM, have the necessary items and understand potential costs. You will need a valid debit or credit card and its Personal Identification Number (PIN) to initiate any transaction. Check your account balance beforehand to ensure sufficient funds are available for your withdrawal.

Financial institutions impose daily withdrawal limits, which can range from approximately $300 to over $1,000. These limits are set for security reasons and vary by bank and account type. Using an ATM outside of your bank’s network typically incurs two types of fees: a charge from your own bank, averaging around $1.58, and a surcharge from the ATM owner, which averages about $3.15 to $3.19.

Step-by-Step Cash Withdrawal

Once at the ATM, insert your card, typically chip-first with the magnetic stripe oriented correctly. The machine will prompt you to enter your Personal Identification Number (PIN) on the keypad. After your PIN is accepted, navigate through a menu of transaction options.

Select “Withdrawal” and choose the account you wish to draw funds from, such as checking or savings. Input the cash amount you desire to withdraw, adhering to any per-transaction or daily limits. The ATM will display a confirmation screen; review it carefully before confirming. Finally, collect your dispensed cash, retrieve your card, and take the printed receipt.

Key Considerations for ATM Use

Prioritize your security when using an ATM. Remain aware of your surroundings, especially at night, and shield the PIN pad while entering your number. Inspect the card reader and keypad for unusual attachments, such as skimmers, before proceeding. After completing your transaction, immediately secure your cash rather than counting it openly at the machine.

Always take your transaction receipt and dispose of it safely later, as it contains sensitive account information. If an ATM fails to dispense cash but debits your account, check your balance and promptly contact your bank’s customer service. Banks generally aim to resolve such discrepancies within five business days. To locate in-network or fee-free ATMs, utilize your bank’s mobile app or online ATM locators.