If you’re a newcomer or need a refresher, here’s what you need to know to use an ATM safely and effectively. When in doubt, just walk away and find a different, safer ATM. There’s no need to put yourself in harm’s way when there are a million other ATMs out there. In some cases, you’ll insert the card completely into the ATM, and the machine will hold onto it until your transaction is complete. Other machines allow you to just “dip” your card quickly so that you can get it back in your wallet as soon as possible. If the machine holds onto your card, make sure to get the card back before leaving the machine. Some banks support cardless capabilities, allowing you to unlock lobby doors and authenticate ATM transactions using a smartphone mobile wallet app, such as Apple Pay, Google Pay, or Samsung Pay, without presenting an ATM card. Withdrawals are the most common way to use an ATM. You simply get cash out of your account. For a withdrawal, you’ll just indicate how much you want to take out (usually in increments of $20, but some ATMs allow you to take out smaller bills). Deposits can also be made at most ATMs. You can deposit cash and checks if your bank has a partnership with the ATM you’re using. However, there are some risks to ATM deposits, so you should strongly consider making deposits with your mobile device as an alternative. Balance inquiries show you how much money you have. Selecting this option will display your current account balance. This might be helpful if you need to know how much you can spend with your debit card. Transfers and payments might also be available, depending on your bank. This option allows you to use the money in one of your accounts (without physically withdrawing cash). To avoid fees, it’s always best to use an ATM that is owned by or affiliated with your bank. Many credit unions also participate in shared branching, which might help you avoid fees. With the right bank and a little planning, you should be able to find free ATMs. There are times when you should take your receipt. For instance, if you deposit a check at an ATM, keeping your receipt is a good idea until the funds land in your account. That said, it’s not a good idea to linger needlessly at the ATM. Get your cash in your wallet quickly (so others can’t see how much you have). If the ATM kept your card during the transaction, you’ll want to grab it as soon as the machine spits it out. If you’re too slow, the machine could suck the card back in. This is a security measure to prevent your card from being stolen, but if it happens to you, it’ll be tough to get the card back. You may have to get a new one. If anything strange happens while you use an ATM, contact your bank immediately. For example, if the machine keeps your card for any reason or fails to give you the money you tried to withdraw, call your bank. The ATM could’ve been tampered with, and thieves could be coming to collect the day’s haul of cards later. Luckily, you can easily handle problems with an ATM by recording the details of the incident and contacting your bank as soon as possible.
