ATMs offer convenience, but they also come with risks like skimming, theft, and technical errors. Knowing what should you do before you withdraw money from the ATM can protect your finances and personal safety.
Thank you for reading this post, don't forget to subscribe!According to a 2023 report by the FBI, ATM fraud costs Americans over $1 billion annually. Additionally, a study by the European Central Bank found that card skimming incidents increased by 12% in the past two years.
I once withdrew cash from an ATM in a dimly lit area and later noticed suspicious transactions. Since then, I’ve followed strict safety measures. In this guide, I’ll share actionable tips to help you withdraw money securely.
Choose a Safe ATM Location
Selecting the right ATM is the first step in ensuring security.
- Use ATMs inside banks or well-lit public areas – Standalone ATMs in secluded spots are prime targets for thieves.
- Avoid ATMs with suspicious devices – Skimmers can steal card details. Check for loose parts or unusual attachments.
- Prefer ATMs with surveillance cameras – Criminals avoid monitored locations.
A 2022 study by the National Crime Prevention Council found that over 60% of ATM frauds occur at poorly secured machines. Always trust your instincts—if an ATM looks unsafe, find another.
Inspect the ATM for Tampering
Fraudsters often install skimming devices to steal card information.
- Check the card slot – If it wobbles or looks different, it may have a skimmer.
- Examine the keypad – A fake overlay can record your PIN.
- Look for hidden cameras – Some criminals place tiny cameras to capture PIN entries.
The American Bankers Association reports that ATM skimming causes $2.5 million in losses yearly. Always inspect the machine before inserting your card.
Shield Your PIN Entry
Your PIN is the gateway to your bank account. Protect it at all costs.
- Cover the keypad with your hand – Prevents hidden cameras or onlookers from seeing your PIN.
- Avoid using obvious numbers – Birthdates or simple sequences are easy to guess.
- Change your PIN regularly – Reduces the risk of long-term exposure.
A Federal Reserve study found that 30% of ATM fraud cases involve PIN theft. Stay vigilant when entering your code.
Check Your Bank Balance Before Withdrawing
Withdrawing without checking your balance can lead to overdraft fees or declined transactions.
- Use mobile banking – Verify funds before heading to the ATM.
- Set withdrawal alerts – Some banks notify you when your balance is low.
- Avoid multiple withdrawals in a row – Excessive attempts may trigger a card block.
According to Consumer Financial Protection Bureau (CFPB), overdraft fees cost Americans $15 billion annually. Always confirm your balance first.
Be Aware of Your Surroundings
Staying alert prevents theft and ensures personal safety.
- Avoid using ATMs at night – If necessary, bring someone with you.
- Watch for suspicious individuals – If someone lingers, cancel the transaction and leave.
- Keep cash hidden immediately – Don’t count money in public.
The FBI’s Uniform Crime Reporting Program states that ATM-related robberies peak between 8 PM and midnight. Stay cautious.
Use Contactless or Mobile Payment ATMs
Many modern ATMs support tap-to-pay or QR code withdrawals, reducing card skimming risks.
- Apple Pay, Google Pay, and Samsung Pay – Securely withdraw cash without inserting your card.
- Biometric authentication – Some ATMs use fingerprint scans for added security.
A 2023 Visa report found that contactless transactions reduce fraud by 40%. If available, use these safer options.
Keep Your Receipt or Use Digital Records
Proof of withdrawal helps resolve disputes.
- Take the receipt – Verify the amount matches your withdrawal.
- Opt for e-receipts – Some banks email transaction details.
- Check bank statements – Report discrepancies immediately.
The Federal Trade Commission (FTC) states that timely reporting reduces financial losses by 80%. Always keep records.
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Conclusion
Knowing what should you do before you withdraw money from the ATM can prevent fraud, theft, and financial loss. Always choose secure locations, inspect machines, shield your PIN, and stay aware.
Did you find these tips helpful? Share this article with friends or leave a comment below! For more financial safety guides, explore our related posts.
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FAQs
How can I tell if an ATM has a skimmer?
Look for loose parts, unusual attachments, or differences in the card slot and keypad.
Is it safe to use an ATM at night?
Avoid it if possible. If necessary, use a well-lit, bank-affiliated ATM and stay alert.
Should I cover my hand while entering my PIN?
Yes, always shield the keypad to prevent cameras or onlookers from seeing your PIN.
What should I do if an ATM swallows my card?
Contact your bank immediately to block the card and prevent unauthorized use.
Are contactless ATMs safer than traditional ones?
Yes, they reduce skimming risks since you don’t insert your card.
By following these steps, you can ensure safer ATM transactions. Stay informed and protect your money!