Withdrawing cash from the bank can be intimidating for those who just started their banking as there are many ways. Since banks have so many different methods to withdraw money, knowing about a few, if not all, can help you not feel intimidated anymore. Each of the methods requires the client to know a different process; these different methods may feel like a hassle, but they aim to serve the clients to withdraw cash from the bank in any probable context. All these methods are there to make your baking easier.
This article will inform you about everything you need to know about the bank’s cash withdrawal- how to withdraw money from bank, where to do it from, what you need to know.
How to Withdraw Money from Bank: Methods
As mentioned before, and we cannot emphasize enough, but your bank has given you access to different methods so you can withdraw cash from the bank at your convenience. Some of those methods are elaborated below.
Method 01: Withdraw Money Using an ATM Machine
Usually, your bank will give you a debit card or ATM card once you open an account to make a withdrawal. All you need to do is get the card into the card slot of your bank’s ATM, enter your PIN, select Money Withdrawal/ Withdrawal and follow the instructions that indicate the amount you want to withdraw. Once you get the money, verify the amount of money with the receipt is correct.
That should answer your question of how to take out money from atm. Contact your bank if you see any malfunction immediately.
Method 02: Withdraw Money from Bank Using Check
Another easy way to withdraw cash from the bank is using a check. To withdraw money using a check, all you need to do is take the check to any given bank branch and present it for clearance. Once the check clears, the bank will provide you the cash.
If you are making a self withdrawal, then you may have to write ‘SELF’ in the check.
Method 03: Send Money Using Debit Card
If you want to send money using your debit card to another account or bank, you need to follow the same procedure as withdrawing cash from ATM with a slight change at the end.
You need to put the debit card into your bank’s ATM card slot and enter your PIN. Then you select Fund Transfer/Transfer & Payment instead of withdrawal, put in the beneficiary’s bank’s details, and follow the instructions that indicate the amount you want to send.
Method 04: Make Online Payment Using Your Bank Card
If you want to purchase online, you can choose the credit/debit card option under the payment method option. You will have to type the 16-digit Card number given on the front side of the card. You will also have to enter the card’s expiration date and the CCD, CVV, or similar security code in the back.
Once all the information is given, a one-time password (OTP) will be sent to the mobile number connected to your Cards. Once you enter the OTP and your transaction is verified, your online payment will be completed.
Method 05: Transfer Money Using Bank’s Website
In this method, you need access to your online bank account, which you can get by calling your bank’s helpline center. Once you have an online account, you will have to log in to your online account.
Select the Money Transfer or Payment option depending on where you are sending your money. Follow the instructions and enter the correct details. Once your details are verified, you will get an OTP on your phone to verify that you are making the transfer. The money will be transferred once you enter the code.
Method 06: Use Any Payment App and Transfer Money from Bank Account
In this method, you open the payment app you want to use and log in to the app. After you log in, you go to the Transfer Money option and tap on the Bank Account option. You will get a selection box to search and select the bank your account belongs to and put in your detail. Once the details are safe, you can use the app to transfer money from your bank account.
Withdraw Money without Card: If You Lost It
As mentioned before, your bank is prepared to take care of you in almost every situation. A great example of it can be seen in the processes they have for you to withdraw money in case you lose your card. Those processes are discussed below.
Go to Branch of Your Bank
This is the old and classic way of withdrawing your money. Just go to a branch of your bank and get yourself in the Money Withdrawal counter line. Talk to the employee at the counter, give him/her your account detail and follow the procedure you are asked to follow. Once your detail is verified, you can withdraw cash and file for another card.
Use Check Until Problem Solved
As mentioned in the second method, checks are the first alternative to cards. To withdraw the money using a check, follow the second method of taking the check to any given bank branch and presenting it for clearance. The bank will provide you the cash once the check is cleared.
Activate Cardless ATM Access
This method requires you to be registered on the Mobile App of your bank. If you are registered, you need to go to the Funds Transfer option and request a Cardless Cash Withdrawal by entering the correct information. After the information is verified, you will get an OTP on your phone.
When you get the information, you will have to enter all this information into the ATM and get the money.
Use Mobile Banking
This is the modern-day alternative to card transactions. However, in some banks, you need to register from any of the branches previously. If you are registered, you need to download the Mobile Banking App and log in with the necessary information.
Once all are correctly entered, you are ready to use hassle-free mobile banking.
FAQ: Withdraw Money from Your Bank Account
Question-01: What are the steps to withdraw money from the bank?
Answer: Well, we think we have answered that question already. There are many ways to withdraw money from the bank mentioned in the article. You can pick the method convenient to you and follow the steps of that method. As there are many different processes to withdraw money, it is better to know more than one process to be on the safe side.
Question-02: How can I withdraw money from my bank without a debit card?
Answer: In case you do not have your credit or debit card or your atm card with you, you can use checks or go to the branch to withdraw money. Both the processes’ steps are described in the article.
Question-03: How can I withdraw money from my bank without a Cheque?
Answer: You can withdraw money from your bank using your atm card, debit card, send the money using a mobile app or website if you do not have your checkbook with you.
Question-04: How much money can you withdraw from a bank?
Answer: Usually, withdrawal limits depend on your bank. However, you can withdraw from $300 to $5,000 from ATM per day in most cases. It also may differ based on the type of card you are using to withdraw the money.
Question-05: How do I withdraw large amounts of cash from the bank?
Answer: Usually, checks are preferred for situations where one wants to withdraw a large amount of money from the bank. However, you can also go to a branch of your bank and withdraw a large amount of money with correct documentation.
Banking is a complicated thing that can get even more complicated if you do not know your way around it. Withdrawing cash is one of the primary banking activities, and one should know every possible way that can be done.
Your bank has probably also thought of different and unusual situations where you may need cash withdrawal as most banks do. They will accommodate you in situations like losing your credit/debit card, forgetting your pin code, losing the number you have linked with your bank account, etc.
Hopefully, this article has informed you every essential way about how to withdraw money from bank.