how to use an atm
to use an atm you typically insert your bank cards and follow the prompts to withdraw cash which is dispensed through a slot atms require you to use a plastic card either a bank debit card or a credit card to complete a transaction your identity is authenticated by a pin before any transaction can be made many cards come with a chip which transmits data from the card to the machine these work in the same way as a bar code that is scanned by a code reader banks place atms inside and outside of their branches other atms are located in high traffic areas such as shopping centers grocery stores convenience stores airports bus and railway stations gas stations casinos restaurants and other locations most atms in banks are multifunctional while off site atms are generally only for cash withdrawals atm feesaccount holders can typically use their bank s atms at no charge but an atm owned by another bank usually charges a fee according to moneyrates com the average total fees to withdraw cash from an out of network atm was 4 55 in 2022 some banks will reimburse their customers for the fee especially if there is no corresponding atm available in the area 9atm fees can add up for users who make withdrawals regularly for example if you make weekly withdrawals at an atm that charges 4 and is not from your bank you would pay more than 200 a year in atm fees using atms outside the u s atms make it easier for you to access your checking or savings accounts from almost anywhere in the world when you travel travel experts recommend using foreign atms as a source of cash abroad as they generally receive a more favorable exchange rate than they would at most currency exchange offices however the accountholder s bank may charge a transaction fee or a percentage of the amount exchanged many atms don t list the exchange rate on the receipt making it difficult to track spending 