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What is the minimum amount I can withdraw from an ATM?

Curious about ATM withdrawals

What is the minimum amount I can withdraw from an ATM?

The minimum amount you can withdraw from an ATM can vary depending on the policies of the bank that owns the ATM and the specific type of ATM you are using. Here are some general guidelines:

1. Bank ATM: When using an ATM owned and operated by your own bank, there may not be a specific minimum withdrawal amount. You can typically withdraw any amount equal to or greater than the available balance in your account. However, it's a good idea to check with your bank, as some ATMs may have minimum withdrawal limits set by the bank itself.

2. ThirdParty ATMs: ATMs that do not belong to your bank or are not part of your bank's network may have minimum withdrawal requirements, which can vary widely. These minimums can range from as low as ₹100 to ₹500 or more.

3. ATM Type: The type of ATM can also affect the minimum withdrawal amount. For example, some ATMs at banks or in welltrafficked areas may have lower minimums, while standalone or remote ATMs may have higher minimums.

4. Currency Denominations: The minimum withdrawal amount may also depend on the denomination of the currency notes available in the ATM. If the ATM primarily dispenses larger denomination notes, you may need to withdraw a higher amount to meet the minimum requirement.

5. Bank Policies: Bank policies can change over time, so it's a good idea to check with your bank or review your bank's website or ATM information for any specific guidelines regarding minimum withdrawal amounts.

To find out the exact minimum withdrawal amount for a specific ATM, you can usually check the onscreen instructions and prompts when you initiate the transaction. The ATM will typically display the minimum withdrawal amount, if applicable, before allowing you to proceed with the transaction. If the displayed amount is higher than what you want to withdraw, you can cancel the transaction and try a different ATM, if available.

Keep in mind that while there may be minimum withdrawal limits, there are often daily withdrawal limits as well, which restrict the total amount you can withdraw from ATMs in a single day. These limits are set by your bank and can vary based on your account type and bank policies.

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