How to Use an ATM

Using an automated teller machine (ATM) to withdraw or deposit money is a convenient way to bank, but there are some steps you'll want to take to ensure your information is kept safe and money firmly in your possession. In essence, using an ATM will look something like this:

1. Insert your ATM or debit card into the card reader (the card will likely stay in for the entire transaction)
2. Enter your PIN on the keypad
3. Use screen buttons to tell the ATM what you want to do (withdraw or deposit)
4. Agree to terms and fees (if any)
5. Withdraw money from the cash dispenser or feed money into the deposit slot
6. Take your card (important!)

Getting into the nitty gritty, you'll encounter some additional steps for withdrawing and depositing money at an ATM, as well as some limitations you should be aware of. With that in mind, let's take a closer look at what you can expect, how you can avoid fees, and where you can find these machines.

How to withdraw money securely from an ATM

To withdraw money, you'll need two things: a debit or ATM card and your personal identification number (PIN). Once you have these, here are the steps for withdrawing money from an ATM:

1. Insert your debit or ATM card into the card reader
2. Enter your PIN on the keypad discreetly
3. Choose the account you want to withdraw money from (checking or savings)
4. Choose how much you want to withdraw
5. Select what bills you want to receive (you might get the choice of $5s, $10s, $20s, or $100s)
6. Agree to terms and fees (if any)
7. Take your ATM or debit card and money

In regards to how you receive your money (step 5), some ATMs will let you manually choose each type of bill, while others will just spit out money in the most efficient way. For instance, if you withdraw $200, some banks will let you decide if you want to receive that as two $100s, 10 $20s, 20 $10s, or some combination of bills.

Finally, keep in mind that many ATMs and banks have daily withdrawal limits. The withdrawal limit could be as high as $1,000, but many ATMs, like those found on college campuses, may restrict you to lower amounts, like $300.

How to deposit money or checks at an ATM

The steps for depositing money at an ATM are similar to those for making withdrawals.

However, keep in mind that not all ATMs will let you deposit cash or checks, especially if the ATM is not in your bank's network. For example, if you're a college student and you want to deposit money, you might have trouble doing it at your campus ATM. Even if the ATM accepts deposits, the processing time will likely be longer, and it might be easier to deposit directly at your bank.

Once you find an ATM that's in network, here's what you'll need to do to deposit money:

1. Insert your debit or ATM card into the card reader
2. Enter your PIN on the keypad discreetly
3. Choose the account you want to deposit money into (checking or savings)
4. Enter how much you're depositing (if the ATM asks)
5. Feed your money or checks into the deposit slot
6. Verify that the amount you inserted was correct
7. Take your card

Do ATMs charge fees?

Some ATMs will charge convenience fees for withdrawals, but typically only when the ATM is out of network or if you make too many withdrawals in a single day.

An ATM that's in network is one that's owned or operated by your bank and will usually have the bank's brand on it. Most banks offer "ATM finders" through their mobile apps or websites, which will help you find these in-network (or "fee-free") ATMs. A safe bet, however, is to go to your bank's local branch (if it has a brick-and-mortar location) and use the ATM that's there.

Out-of-network ATMs are ATMs owned by other banks. These also include "brown label ATMs," which are independently owned machines that will connect you to a variety of bank accounts, even if the ATM isn't owned by a specific bank (these are the ATMs you'll often find at college campuses, malls, and department stores). The fee for using out-of-network banks varies, but it could cost between $2.00 and $4.50 per transaction.

Additionally, your bank or credit union could charge a fee if you exceed the daily or monthly withdrawal limit on your account. Often, you'll find withdrawal limits on certain high-yield savings accounts, though it's rare for banks to restrict withdrawals on checking accounts. For instance, if you have a student checking account, you should be able to withdraw indefinitely without paying fees (check your account's terms to verify).

Where can you find ATMs?

The fastest way to find an ATM that's in network is to go to your bank's local branch. Most banks will have ATMs inside their lobbies, but some may even have an exterior ATM for 24/7 access. Alternatively, if your bank has a mobile app, it might have an ATM locator built into it (this is especially true if you have an online-only bank). If worse comes to worst, you can always use a search engine to find an ATM that's close to you, though you'll want to be discriminating about which ones you choose, as you want to avoid ATM fees if possible.

All in all, using an ATM is fairly simple and only requires that you have a debit card and PIN number on hand. Be mindful of whether the ATM is in network, and always enter your PIN discreetly so no one can see it.