2007-09-21 06:16:14 · 10 answers · asked by New York 2 in Business & Finance ➔ Personal Finance
why can't you take $10 or $5
2007-09-21 06:23:13 · update #1
Your bank has a cheap machine that only carries $20 bills.
Coastal FCU has ATM machines that handles 20s, 10s, 5s, 1s, and even change.
2007-09-21 06:23:33 · answer #1 · answered by Feeling Mutual 7 · 0⤊ 0⤋
ATMs can only handle a certain number of denominations in their dispensers. Some dispense $20s and $5s to increase your options. Some just dispense $20s. It depends on the machine. It could also depend on when you visit an ATM. The bank tries to fill it up with enough money but over a holiday weekend, it could run short on certain bills. The ATMs are made by different companies which makes a difference in how they dispense money. It also depends on the collected balance in your account. The bank doesn't care if you take out $10 or $40 (if the machine allows it). It is your money and $20 isn't going to make any difference to them.
2007-09-21 13:35:53 · answer #2 · answered by barbowork 2 · 0⤊ 0⤋
You can usually get more than 20, but most use $20 increments because that is the only bill they load in the ATM, however, I have serviced ATM's that also take $5 bills.
2007-09-21 13:21:54 · answer #3 · answered by Chelsea L 2 · 2⤊ 0⤋
Do you mean why can you only take a minimum of $20 from the ATM? My guess is that it costs a certain amount of money to maintain the machines and that it is not cost effective to withdrawl less than $20. My bank allows me to withdrawl up to $200 per day.
2007-09-21 13:21:36 · answer #4 · answered by Me! 2 · 0⤊ 0⤋
Some of the older machines offered multiples of $10 and would dispense combinations of $10s and $20. I suspect, that by offering only 20dollar bills, The internal machinery of the atm could be built simpler and more robust. plus hold more cash in the same space.
2007-09-21 13:28:14 · answer #5 · answered by Niklaus Pfirsig 6 · 0⤊ 0⤋
thats not really true because at my atm i can take out 10's but not 5's.
2007-09-21 14:02:57 · answer #6 · answered by Meow4Moe 5 · 0⤊ 0⤋
I suspect that they only put $20 bills in the ATM.
2007-09-21 13:20:43 · answer #7 · answered by Steve B 6 · 0⤊ 1⤋
It's easier for the banks, they only have to restock one bill and less often. Not to mention that way you have to at least take a little more.
They can be programmed and stock to hold and dispense any denomination.
2007-09-21 13:21:57 · answer #8 · answered by jjonesacctony 5 · 0⤊ 0⤋
if you have the money in your acct - most atms let you take out 300-400 per day
2007-09-21 13:20:50 · answer #9 · answered by Anonymous · 0⤊ 1⤋
Some you can, some you can't.
2007-09-21 13:33:47 · answer #10 · answered by Sunidaze 7 · 0⤊ 0⤋