How to withdraw money from a bank

How do you withdraw money from the bank?

Withdraw money from a bank by presenting a withdrawal slip to a bank teller or visit an ATM. A withdrawal slip requires your photo ID, bank account number, and selecting the account you wish to withdraw from. An ATM will require your debit or bank card and associated PIN number.

However, it isn’t always easy to swing by a bank. You may not even know where your closest ATM is located.

Therefore, you may also get cash through cash back purchases or check cashing services.

Luckily for you, I’m going to show you your options for withdrawing money from your bank. Why would you want to stop by the bank if you’re already going to be at the grocery store? No worries, I’ll show you what you need to do.

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How to withdraw money from a bank

The most common ways to withdraw money from the bank is at the bank or an ATM. You can also withdraw money online, using check cashing services, or get cash back on your purchases. Each method will give you cash the same day.

Give a withdrawal slip to a bank teller

Withdrawal slips are often found at your bank for your convenience. fill out a withdrawal slip and give it to a bank teller to withdraw money from your bank account. You may either visit the inside of your bank or go through your bank’s drive-thru.

Consider taking a few withdrawal slips with you if you constantly need to withdraw cash. Doing so will allow you to fill out a withdrawal slip before you go to the bank. 

Personally, I keep withdrawals and deposit slips in my car for convenience. Therefore, if I am driving by the bank I can simply pull into the drive-thru. Usually, there is a line of cars which gives me an opportunity to fill out my withdrawal slip.

How do you fill out a withdrawal slip?

In order to fill out a withdrawal slip, you will need your bank account number and photo ID. You should also know whether you are withdrawing from checking or savings.

Generally, you should be able to follow the instructions on the withdrawal slip. A typical slip requires you to write down the date of withdrawal, how much to withdraw, your bank account number, withdrawing from checking or savings, and sign for cash received. Your bank will want a photo ID such as your driver’s license to prove your identity.

Give your photo ID and withdrawal slip to the bank teller. The bank teller will enter your information and provide you with cash. You should also receive a receipt which details the balance of your bank account. 

Use an Automated Teller Machine (ATM)

Automated teller machines are located throughout your city for your convenience. To withdraw money, you will need your bank or debit card and a PIN number. You can find your nearest ATM by contacting your bank or through their ATM locator.

To withdraw money, insert your debit or bank card end of the machine. You will be prompted to enter in your PIN number. Select how much money you wish to withdraw and from which account, savings or checking.

Don’t forget to take your card when the transaction is done!

Ideally, you will go to an ATM that is owned by your bank. However, you can still withdraw money from any ATM. Unfortunately, you may be charged a transaction fee for using an ATM not owned by your bank.

Cash back purchases

You may also withdraw money by asking for cash back during a purchase. Typically, cash back purchases are done at convenience stores and grocery stores.

Ask your cashier if they offer cash back. Your cashier will ask you how much money you wish to get. The amount will be added to your purchase, but the cashier hands you cash. 

Withdraw money online

Your online banking services may allow you to withdraw money online. Visit your bank’s website to enroll in online banking. Online banking may allow you to send money to accounts you own or to your friends accounts.

Some services like PayPal will allow you to link your bank account. You can then transfer money from your bank account to PayPal. PayPal can send you a paper check in the mail. Then, all you have to do is cash the check.

Send money services like MoneyGram can transfer money as well. Visit your local MoneyGram to transfer money from your bank and receive cash. Fees may apply.

Write a check & check cashing

You may also write a check and visit a check cashing service. Cashing a check is the least desirable option because it is unsecured and carries fees.

Fill out the check as normal, but pay to the order of “cash.” your check should have the date, the amount, and your signature. Any check cashing service or bank should be able to cash your check.

Check cashing services often have enormous fees. Some money services may even charge up to 5%! However, one of the best places to cash a check is usually the service center of your grocery store.

Another downside of writing a check to pay to the order of “cash” is the check is unsecured. Anyone can cash the check should you lose it. Therefore, it is best  to fill the check out just before cashing.

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How do you withdraw money when the bank is closed?

If the bank is closed, withdraw cash by using an ATM or making a cash-back purchase. Use your bank’s ATM locator found online to locate an ATM. Alternatively, most gas stations and grocery stores can give you cash back on purchases. Withdrawal limits may apply.

Unfortunately, most ATMs have a withdrawal limit. Most banks allow you to withdraw up to $500 per day from an ATM. Banks also have a daily debit card purchase limit which ranges from $1,000 to $5,000.

The convenient or grocery store may also have limits on cash back. Therefore, ask your cashier or customer service about the store’s policy on cash back. Take some time to call stores ahead of time can you find the store which can help you best.

How do you withdraw money from the bank without an ATM or debit card?

You can withdraw money from the bank without an ATM or debit card by visiting the bank. Bring your photo identification and know your account number. Alternatively, you can write a check which you can cash or endorse to a friend to cash for you. 

Your easiest option is to visit your bank and fill out a withdrawal slip. However, the bank may be closed. Cash back purchases may be your best option if you need money now.

Alternatively, check your check cashing options as a last resort. Check cashing usually carries significant fees. However, you can usually get check cashing done at your local grocery or convenience store.

If you can’t make it to the bank, maybe your friends can help. You can write your friend a check which they can cash.You may also have a check which needs to be deposited or cashed which someone gave you. In this case, endorse the check to your friend to cash for you.

To endorse a check, check the back of the check for instructions. Typically, all you have to do is sign the back of the check. Wright “pay to the order of” and your friend’s name as well. 

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Summary: How to withdraw money from the bank

As you can see, there are many ways to withdraw money from the bank. Your best option is to visit the bank in person to fill out a withdrawal slip. You should know your account number and bring photo identification to withdraw money. Most banks have a drive-thru option so you don’t have to go inside.

Automated teller machines are another good option and usually convenient. An ATM will require your debit or bank card and associated PIN number to withdraw money.

If you’re buying groceries anyways, consider cash back purchases. simply inform the cashier you wish to make a cash back purchase. Your cashier will ask you for the amount of money you wish to get cash back. 

Another option is to write a check out to pay to the order of “cash.” You can take your check to anywhere that provides check cashing services. Generally, grocery service centers are able to perform this for you. However, anybody can cash the check so be careful and there are usually fees associated with check cashing.

Your bank may also offer online banking services. You can use your bank services to transfer money to other accounts. Companies like PayPal can send you a check in the mail.

If the bank is closed, your best bet is to use an ATM or cash back purchases. However, most ATMs have a withdrawal limit, usually $500. Debit cards will also have a maximum limit which typically is around $1,000-$5,000 per day.

John is the founder of TightFist Finance and an expert in the field of personal finance. John has studied personal finance for over 10 years and has used his knowledge to pay down debt, grow his investment portfolio, and launch a financial based business. He is committed to sharing content related to personal finance based on his experience in his career, investing, and path towards reaching financial independence.