{"id":824990,"date":"2019-12-24T11:16:45","date_gmt":"2019-12-24T16:16:45","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=824990"},"modified":"2026-03-02T19:55:19","modified_gmt":"2026-03-03T00:55:19","slug":"atm-near-me","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/chequing-accounts\/atm-near-me","title":{"rendered":"Guide to using ATM machines"},"content":{"rendered":"

Finding a cost-effective ATM near you isn\u2019t always easy. There may be plenty of ATMs, but not all of these automatic tellers will give you access to your bank account without tacking on some hefty fees. No one likes paying $3\u2013$5 just to get a bit of pocket money or for the privilege of depositing cash into their account. To help, here are a few tips and tricks to maximize the ease of use of ATMs while cutting unnecessary fees.<\/p>

What is an ATM and how does it work?<\/h3>

An ATM, or automated teller machine, is an electronic machine that allows you to perform basic banking tasks, like withdrawing cash, checking your account balance and depositing cash and cheques. ATMs are designed to provide convenient access to banking services 24\/7 without the need to go into a branch.<\/p>

ATMs work by connecting electronically to your bank\u2019s network. When you insert your debit or credit card, the machine reads the information stored on the card\u2019s chip or magnetic stripe. After you enter your PIN, the ATM verifies your identity with your bank\u2019s system. Once authorized, it processes your request, like dispensing cash or transferring funds, in real time.<\/p>

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\n \n \n <\/circle>\n <\/path>\n <\/svg>\n <\/span>\n What does ATM stand for?<\/span>\n <\/h4>\n
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ATM is short for automated teller machine. Some banks and financial institutions use a slightly different term, ABM (automated banking machine), to refer to ATMs.<\/p>\n <\/div>\n <\/div>\n<\/div>\n

How to deposit money at an ATM<\/h3>

It\u2019s easy to deposit cash or cheques into your account at an ATM if you follow these steps:<\/p>

  1. Find an ATM in your bank\u2019s network and insert your debit card.<\/li>
  2. Enter your PIN.<\/li>
  3. Choose \u201cCash deposit\u201d or \u201cCheque deposit\u201d from the available options.<\/li>
  4. Insert your cheque or cash into the deposit slot. (Some older ATMs may require you to place the cheque or cash in an envelope first.)<\/li>
  5. Check and verify the details displayed on the ATM screen. (Older ATMs may ask you to enter the cheque amount manually.)<\/li>
  6. Confirm your deposit, take your receipt and remove your card from the ATM.<\/li><\/ol>

    Cash deposits are typically available in your account immediately, while cheque deposits may take up to three business days to clear before the funds can be used.<\/p>

    How much can you deposit at an ATM?<\/h4>

    The maximum amount you can deposit at an ATM varies depending on your bank. For example, you can deposit up to $500,000 at an RBC<\/a> ATM, while TD Bank<\/a> imposes a limit of up to 30 cheques or 50 bills per transaction.<\/p>

    To be sure, check with your bank for details on their ATM deposit limits.<\/p>

    How to withdraw money from an ATM<\/h3>

    You can withdraw cash from any ATM, though using an out-of-network machine may incur a small fee. Every ATM is different, but you can typically follow these steps to withdraw your funds:<\/p>

    1. Insert your debit or credit card in to the ATM.<\/li>
    2. Enter your PIN.<\/li>
    3. Select \u201cWithdrawal\u201d from the menu.<\/li>
    4. Choose the account you want to withdraw from (like chequings or savings).<\/li>
    5. Enter the amount of cash you wish to withdraw.<\/li>
    6. Confirm your transaction and wait for the ATM to dispense your cash.<\/li>
    7. Take your cash, receipt and card before leaving the machine.<\/li><\/ol>

      How much can you withdraw at an ATM?<\/h4>

      ATM withdrawal limits vary by bank and account type, but generally range from $500 to $3,000 per day. For example, the Scotiabank<\/a> withdrawal limit is $3,000. To learn exactly how much you can withdraw, on a daily basis, log into your bank account or talk to a bank representative.<\/p>

      These limits are in place as a security measure, in order to stop thieves from withdrawing all your cash if they get their hands on your debit card<\/a>. From a practical point of view, ATMs can only hold a limited amount of cash, so imposing limits also allows the bank to ensure there\u2019s enough money in the ATM for client withdrawals.<\/p>

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      \nDive deeper: <\/span>Are there any cardless ATMs in Canada?<\/a>\n<\/div>\n<\/article>

      How much do ATMs charge in Canada?<\/h3>

      Here\u2019s a list of the most common ATM fees you may be charged in Canada:<\/p>

      • Network access fee.<\/strong> A fee of $1 to $5 per transaction will be charged when you use an ATM owned by another financial institution.<\/li>
      • Account fees.<\/strong> Some chequing accounts place a limit on the number of free transactions you can perform each month. If you\u2019ve exceeded this limit, you may be charged a fee of $1\u2013$1.50 for each subsequent ATM transaction until the end of the month.<\/li>
      • Convenience fee.<\/strong> You may also be charged a convenience fee of $1 to $5 per transactions when you use a privately-owned ATM.<\/li>
      • Foreign transaction fees.<\/strong> If you use your debit card to withdraw money from an overseas ATM, you may be charged a 2%\u20133% foreign transaction fee. Currency conversion costs will also apply, either in the form of a fee or an exchange rate markup.<\/li><\/ul>

        Comparison of ATM fees in Canada<\/h4>
        Who owns the ATM?<\/th>Per transaction fee<\/th>Out-of-network ATM fee<\/th>Convenience or service charge<\/th>Total ATM fee<\/th><\/tr><\/thead>
        ATM within a bank\u2019s network<\/strong><\/td>$0 to $2<\/td>n\/a<\/td>n\/a<\/td>$0 to $2<\/strong> per ATM transaction<\/td><\/tr>
        ATM outside of current bank network<\/strong><\/td>$0 to $2<\/td>$0 to $2<\/td>$1 to $5<\/td>$1 to $9<\/strong> per ATM transaction<\/td><\/tr>
        Private ATM or cash machine<\/strong><\/td>$0 to $2<\/td>$0 to $2<\/td>$1.50 to $5<\/td>$1.50 to $9<\/strong> per ATM transaction<\/td><\/tr><\/tbody><\/table>

        Do all ATMs charge a fee?<\/h3>

        No. If you withdraw cash at an ATM operated by your bank or a member of their partner network, no ATM fees will apply.<\/p>

        However, you\u2019ll be charged fees if your bank account doesn\u2019t have transactions as part of the package (either as a free account perk or as part of the monthly bank fee). You\u2019ll also be charged a fee if you make an ATM withdrawal using a different bank\u2019s ATM.<\/p>

        How to avoid ATM fees<\/h3>

        Sick of fees eating into your account balance? There are several simple things you can do to avoid ATM fees in Canada and while travelling overseas.<\/p>

        Use an ATM in your bank\u2019s network<\/h4>

        If you know you\u2019ll use ATMs frequently, then pick a bank account or banking provider with a large network of ATMs. A large network means it\u2019ll be easier to find a machine that doesn\u2019t charge ATM fees.<\/p>

        Bank accounts with free ATM withdrawals<\/h5>

        The following accounts all include free ATM withdrawals:<\/p>

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