2006-09-07 09:04:18 · 18 answers · asked by I love angels 2 in Business & Finance ➔ Other - Business & Finance
That's the Automatic Teller Machines. You can go inside the branch during banking hours to withdraw whatever amount you want (and have the funds for.) A few banks have ATMs with the capability to dispense in $5 increments, but they're the minority. The reason for the $20 increments is so the ATMs don't have to be stocked with the differing denominations.
2006-09-07 09:13:24 · answer #1 · answered by robertspraguejr 4 · 1⤊ 1⤋
ATMs have a certain amount of storage space for bills. $5 or $10 storage would reduce the amount of money available for dispensing at that ATM. Using smaller denomination bills would reduce the number of people able to be served, increase the cost of maintaining the ATM, and make you carry more bills. With the price of dinner, movies, sporting events, parking, travel in general and benzine, $5 or $10 would not get you very far. Would you rather have to take out $20 at a minimum or run the risk of no money being available at all?
2006-09-07 09:11:27 · answer #2 · answered by Juergen K 1 · 1⤊ 0⤋
I am able to withdraw money in $10 increments from my banks ATMs. The withdrawals are done in increments of $10 or $20 because there is less money needed to be held in the machine and less chance of the wrong amount of money being distributed. It makes the withdrawal easier to process easier for all involved.
2006-09-07 09:09:25 · answer #3 · answered by jonesty1284 2 · 0⤊ 0⤋
It's an interesting question because the ATM's in Europe spite out multiple denominations. So it is possible from an ATM. Besides stocking multipel denominations would allow people to withdraw larger amounts.
2006-09-07 09:27:28 · answer #4 · answered by Luckyd 2 · 0⤊ 1⤋
It's easier and more efficient just to stock ATMs with one denomination of bill.
Not all ATMs are like this, by the way. Some use $10 bills, and others in specific places (like casinos) will give larger bills.
2006-09-07 09:07:09 · answer #5 · answered by rorgg 3 · 0⤊ 0⤋
That depends upon the ATM machine. Smaller, cheaper ones only have one tray to load notes into so the banks usually opt to load them with 20s in order to service as many customers as possible.
2006-09-07 09:10:47 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 0⤋
So that the ATM machines only have to be stocked with $20s and not all possible denominations.
2006-09-07 09:05:25 · answer #7 · answered by Pink Denial 6 · 0⤊ 0⤋
Because 20's are the most convienent size of money to have. One's, five's and ten's are too small while 100's are too large. Also they only need to put one kind of bill in the machine.
2006-09-07 09:06:44 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I've seen some that allow $10 or $5 withdrawls, they usually are on college campuses.
2006-09-07 09:06:35 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Since when?
My bank allows me to withdraw any amount I want (as long as I have sufficien funds)
2006-09-07 09:05:56 · answer #10 · answered by rjjensenia 2 · 1⤊ 0⤋