An ATM machine allows the debit and credit card holders to withdraw money in their need. However, these self-service banking outlets sometimes display “No Cash” on the screen when taking out cash. This generally happens when there is insufficient cash in the ATM.
Most people encountering this ATM error start looking for the answer to how much money it holds. Each ATM has an average of 3-4 cassettes to hold money. Now, the question is – How much money can each ATM cassette hold? It can hold up to 2,500 notes in advanced ATMs.
On the other hand, the old ATMs can hold 1,000 notes on each cassette. Some ATMs also hold 9-10 cassettes to store more cash. So, the amount of cash might vary from one bank’s ATM to another.
The amount of your money an ATM holds also depends on its size and bill type. Besides, some ATMs hold less cash than others because of the frequency of use. The machine’s location is another factor in determining the total cash amount.
Let’s find out how much money a standard ATM hold and the steps to withdraw it:
What is the Maximum Amount of Money an ATM Has?
You might be surprised that an ATM machine in the United States can hold $200,000. The amount varies on the time of the day and the bill denominations the machine stocks.
Most standard ATMs have at least 4 cassettes – 2 for $20 and 2 for $50. Some ATMs have only $20 bills, which means $50 bills are unavailable there. Each cassette can hold up to 2,000 bills, so this self-service device holds 8,000 crisp banknotes.
What is an ATM’s Minimum Cash Withdrawal Limit?
Banks and ATMs restrict how much cash an individual can withdraw in a day. They do this mostly to protect your money from fraudsters. A scammer can’t drain all your money within a day, even if he gets hold of your banking account.
You will receive a notification about the cash withdrawal on your phone if the bank account is linked with it. You will take immediate action to prevent the theft within this time. Besides, the ATM will be out of cash if someone withdraws all of it within a day.
The cash withdrawal amount varies from one bank to another. Customers can typically take out $300 to $3,000 from an ATM machine. The withdrawal amount at Wells Fargo varies depending on your account type. Here is the withdrawal limit of the top banks in the United States:
- $1,000 at Citibank
- $1,500 at Bank of America
- $1,000 at Chase
- $500 at US Bank
How Often Does a Bank Refill The ATM Machines?
You might have seen the “under maintenance” sign outside the ATM machine outlet. Do you know what this sign implies? It means someone is working on this self-service device and refilling it with cash.
Every bank schedules a fixed time to refill their ATMs. The top banks’ ATMs are refilled daily because of the high demand, while others might refill the machine once a week or month.
Banks use a tracking system to track the amount of cash the users withdraw daily. This tracking technology notifies the ATM owner when refilling is required. The owner refills the ATM machine with cash or contacts an agent to do the work on their behalf.
How Do ATM Machines Refill the Money?
Most people think that ATMs refill themselves independently, which isn’t true. Staff members of the particular bank or the owner refill the device with cash. They turn off the security alarm and put on the outfit-of-service status.
Staff members or the ATM owner then remove the cassettes and check the remaining cash amount. They put the required amount of cash in the ATM’s cassettes. They record the total cash loaded into the ATM on a computer or phone.
The ATM machine will initiate a scanning process to check the amount of cash. Staff members ensure the machine works properly to avoid inconvenience when someone withdraws cash. They turn on the alarm and lock the door if the ATM machine operates normally.
Is It Safe to Withdraw Money from an ATM Machine?
Every bank uses effective security measures to secure their ATM from scammers and unwanted thefts or burglaries. Most ATMs have an alarm system which triggers automatically if someone tries to steal money fraudulently.
Moreover, high-end security cameras are installed inside and outside the machine. These surveillance devices record everything and help ATM owners to identify criminals. Most bank and ATM owners use CCTVs if someone tries to withdraw money by stealing others’ bank cards.
Is It Possible to Withdraw Cash from ATMs Using a Bank Check?
Most bank account holders don’t know they can withdraw money with a check from an ATM machine. The latest ATMs let you insert and deposit checks for an easy cash withdrawal. However, you must first check if you have sufficient balance in your bank account and then follow these steps:
- Ensure the ATM works properly and insert the debit card in the correct slot.
- Enter your security PIN using the buttons and hit the Enter button.
- Choose Deposit Check from the options displayed on the screen.
- Insert your bank check in the ATM’s check deposit slot correctly.
- Select the amount of cash you want to withdraw from the ATM.
Collect the money and count the cash you received from this self-service machine. You must write the amount on the check before inserting it into the check deposit slot. The ATM will scan and read the amount to give you the correct amount you requested.
Easy Steps to Withdraw Cash from an ATM Machine Using a Debit Card
Debit cards let bank account holders transfer money online and make electronic payments easily. Moreover, another use of a debit card is to withdraw cash from an ATM. First, you must locate your bank’s nearest ATM.
Go to the ATM booth with your debit card and ensure it is not out-of-service. Insert your debit card in the correct slot and write the security PIN using the machine keys. Press the Enter button and choose the transaction type from the available options.
Choose your account type and enter the cash amount you want to withdraw from your bank account. Double-check the amount and hit the Enter button to receive the cash. The ATM machine might take a few seconds to complete the transaction process.
Collect the money from the ATM’s lower slot and wait until it prints the transaction receipt. Take out the receipt and keep it in a sale place to avoid ATM scams. Never leave the transaction receipt at TAM, leading to account hijacking and identity theft.
Is there Any Way to Withdraw Cash without a Debit Card from Your Bank’s ATM?
Several banks let you withdraw cash without a bank card. You only need to install the mobile banking app to get the required amount. These apps are easy to use, secure and compatible with Android and Apple phones.
Go to the nearest cardless ATM booth and open the mobile banking app from your smartphone. Select “Withdraw Money” from the available options from the app. Choose “Mobile Cash Access” on your bank’s ATM afterwards.
You will see a QR code on the ATM’s screen, which should be scanned from your phone. The ATM machine will take 2-3 seconds to complete the transaction.
Consider scanning the QR code again if the device takes over a minute to accept your cash withdrawal request. Finally, collect the money and the printed receipt from the ATM’s lower slot.