ATMs and Credit Card Usage: Will it Work for You?

In keeping with the steady demand for remote or non-traditional access to financial services, ATM services have likewise been expanded to handle more than just the occasional withdrawal of small sums of cash. Having a debit card can certainly make things easier when you need quick cash after normal banking hours have ended, but being able to use a credit card at ATM may allow you to complete many routine but important transactions. Likewise, financial institutions that accept credit cards at their automated teller machines may garner new business and customers as well.

Credit Cards and ATM Services

Your credit card may give you greater financial flexibility, particularly if your work or personal life frequently takes you away from nearby bank branch locations. Accordingly, you may have a much easier time of finding an institution that accepts your credit card as well. While your debit card may have a relatively low daily withdrawal limit, using your credit card may allow you to perform ATM services such as:

• Cash advances
• Deposits
• Bill pay

While performing a large cash advance may mean paying a fee, the amount may be considered nominal depending upon the circumstance and need for the cash. Likewise, being able to complete more complicated deposits at a machine that is part of an integrated network may be invaluable as well. Some ATM services even allow cardholders to use their machines to pay phone, utility, and other customary but important bills. Fully integrated networks may let you complete sophisticated ATM services including:

• Accessing bank statements
• Transferring funds
• Updating financial records
• Buying train tickets
• Securing movie or concert tickets
• Adding credit to prepaid cell phones
• Initiating loans

Being prepared to use ATM Services

While all automated teller machines may not be equipped to handle such impressive ATM services, being able to use your credit card for basic transactions may be especially advantageous during an emergency. Accordingly, you should verify what you can and cannot do with your credit card before you travel or intend to rely on it for cash. You may be able to easily access your available funds if you have:

• Your personal identification number  
• A customer service phone number or contact
• An undamaged card

Many companies assign PIN numbers along with their cards, allowing customers to use ATM services as soon as possible. If you do not have a PIN or need a new one, requesting one in as far advance as you can would be strongly advised, as such sensitive information is often delivered only through secure and potentially slower channels.

Making the most of ATM Services

As this website stated, one of the best ways to make using ATM services with your credit card less costly is to avoid machines with low withdrawal limits and ideally get the cash you need in one transaction. Machines that accept credit cards are often sought out and are increasingly popular with consumers. Accordingly, many financial institutions would likely benefit from working with a reputable ATM provider that offers as many enticing ATM services as possible as a way to increase revenue and expand their customer base.