There are multiple ways to withdraw money from the bank. You can typically withdraw cash from a bank account at an ATM or branch of that bank, or you can directly transfer money using online banking services and tools.
Withdraw money from an ATM
If you have a checking account or a savings account that offers debit or ATM cards, you can typically make withdrawals at any ATM. Just insert your debit or ATM card and verify your identity with your PIN.
You may encounter limits when withdrawing cash from an ATM. Banks may set daily withdrawal limits to help prevent fraud and theft, and individual ATMs may have lower limits set at the discretion of the ATM owner.
Using an ATM associated with your bank is typically the best way to avoid ATM fees. Using out-of-network ATMs may result in getting charged a fee from your bank, the ATM owner or both. Some banks may reimburse out-of-network ATM fees.
Do you need a debit card to withdraw money from an ATM?
You typically need a debit or ATM card to withdraw money from an ATM. However, some ATMs now offer cardless withdrawal options, usually by connecting to either a bank’s mobile app or the digital wallet of your choice to authenticate the transaction.
Withdraw money in person from the bank
You can also withdraw cash in person at your local bank branch.
Money can typically be withdrawn directly with the help of a bank teller. You will need to provide proof of identity, such as your debit card and PIN, or a government-issued ID. Once they’ve verified your identity, you can choose the amount you want withdrawn and they can hand it to you.
Withdrawing money from an online-only bank account
If you have a bank account that you primarily access online, and the bank doesn’t have a local branch, there are still several ways to access your funds.
Many online-only banks have a network of free ATMs through a partnership. This may allow you to withdraw cash at certain ATMs without paying a fee.
You can also transfer money to another account or pay bills directly by making transfers from your online account.
Other ways to withdraw money from your bank account
Cash back when you pay with a Debit card
Some banks allow you to withdraw small amounts of cash back when shopping at certain vendors. For example, if you’re shopping at a grocery store, you might see the option to withdraw cash back when you pay. This cash back amount will be charged to your checking account as a purchase, and you will receive the cash immediately.
Disclosure: This article is for general educational purposes. It is not intended to provide financial advice. It also is not intended to completely describe any Citi product or service. You should refer to the terms and conditions financial institutions provide for various products.
