Sometimes, when you are between a rock and a hard place, getting a cash advance through an ATM is the only choice that you may have during a time of emergency. There could be many reasons why this may be necessary, but what is important is to know that you have access to the facility if or when an emergency occurs. Getting a cash advance through an ATM is akin to getting an overdraft from a savings or current account but with a lot more convenience because you won’t have to wait for normal banking hours before you can access some much needed cash.
Before you can access an advance through a cash dispenser however, you need to prepare in the following way. First of all you should ensure that you have all the necessary permissions from your bank to access an advance through an ATM. Most ATM cards have this option automatically authorized, but it is important to confirm that your bank card has authorized access to this service. Finding out if the card has authorization could be as simple as giving a call to the customer care department that deals with bank cards. Most banks have a customer care department that operates 24 hours a day. If your card has authorization to use the cash advance service, it is important to know what the status of your bank account is before you can access funds through an advance. This simply means that different banks may require that your account meets specific bottom line requirements before you can use this special service. For example, if you have taken debt from the bank before and you have had difficulty paying for it on time, you may not be able to access a cash advance through the ATM. It is therefore important to ensure that your bank account is always in good standing before you can access such credit.
Before you can use the bank ATM to access an advance it is also important to make sure that you understand all other terms and conditions. For starters, you should know that there will most likely be a fee for accessing the service as well as interest for taking the credit. Knowing this is important so that you can know exactly what you need to pay back and when. Understanding what the payment schedule for the advance is will be important if you want to keep your bank account in good standing to access another advance at a later date. Also, the sooner you pay it off, the fewer the charges that you will have to pay for accessing the service. Once you know all this, what remains is to know how to use the ATM to access the advance. Most modern ATMs have a very simple user interface so that finding the advance feature in the machine is quite simple. Ordinarily, you will find it on the ‘other services’ menu of the ATM, once you have logged onto your account using your PIN code.