Can You Withdraw Money from ATM with Apple Pay?

475 can you withdraw money from atm with apple pay

How to Withdraw Money from ATM with Apple Pay

Apple Pay, the contactless payment feature by Apple, has revolutionized the way we make payments. Not only can you use it for in-person, online, and in-app purchases, but you can also withdraw cash from ATMs without using a physical debit card. This convenient feature is known as a cardless ATM withdrawal, and it’s becoming increasingly popular worldwide.

To make a cardless ATM withdrawal using Apple Pay, you’ll need to find an ATM that supports contactless withdrawals. These ATMs are typically marked with the contactless symbol, which looks like a series of curved lines resembling a sideways Wi-Fi icon. Once you’ve located a compatible ATM, you can use your iPhone to withdraw cash from your linked bank account.

Identify ATMs Supporting Apple Pay Withdrawals

The first step in making a cardless ATM withdrawal with Apple Pay is to find an ATM that supports contactless withdrawals. Look for the contactless symbol on the ATM, which indicates that the machine is equipped with the necessary technology to process contactless transactions.

Many major banks, such as Citibank and US Bank, have started offering cardless ATMs that support Apple Pay withdrawals. According to Six Group, a financial infrastructure company, there has been a significant increase in the number of contactless ATMs globally. In Switzerland, for example, around 20% of ATMs offered contactless withdrawal options in 2020.

Add Your Debit Card to Apple Pay

To use Apple Pay for ATM withdrawals, you’ll need to add your debit card to the Wallet app on your iPhone. This process is simple and secure. When you add your debit card to Apple Pay, it’s linked to your bank account, allowing you to access your funds without the need for a physical card.

Open the Wallet app on your iPhone, tap the “+” icon, and follow the prompts to add your debit card. You may need to verify your card with your bank before it’s added to your Wallet. Once your debit card is successfully added, you’re ready to make cardless ATM withdrawals using Apple Pay.

Make a Cardless ATM Withdrawal with iPhone

With your debit card added to Apple Pay and a contactless ATM located, you can now make a cardless cash withdrawal using your iPhone. Hold your iPhone near the contactless symbol on the ATM, and your Wallet app will open automatically, displaying your available cards.

Select your debit card, enter your PIN when prompted, and choose the amount of cash you’d like to withdraw. The ATM will dispense the cash, and the funds will be deducted from your linked bank account. It’s important to note that even though you’re using your iPhone, you’ll still need to enter your debit card PIN for security purposes.

International ATM Withdrawals Using Apple Pay

Apple Pay can be a convenient option for withdrawing cash from ATMs when traveling internationally. However, it’s essential to be aware of potential fees associated with international ATM transactions. These may include foreign transaction fees, ATM operator fees, and cash advance fees charged by your bank.

To minimize fees and access your funds abroad, consider using a multi-currency account like the Wise account. Wise offers an international debit card that’s compatible with Apple Pay, allowing you to make low-fee ATM withdrawals and payments in multiple currencies.

Wise Debit Card for Low-Fee International Withdrawals

The Wise debit card is linked to your Wise account, a multi-currency account that supports over 40 currencies. With the Wise account, you can hold, exchange, and spend money in multiple currencies at the mid-market rate, with low and transparent fees.

Feature Benefit
Multi-currency account Hold and exchange over 40 currencies
Mid-market exchange rate Get the best available exchange rate
Low, transparent fees Save money on international transactions
Wise debit card Make low-fee ATM withdrawals and payments abroad

By using the Wise debit card with Apple Pay, you can enjoy the convenience of contactless payments and withdrawals while minimizing international transaction fees. To learn more about Wise’s fees and pricing, visit the Wise fees & pricing page on their website.

Making International Transfers with Wise and Apple Pay

In addition to low-fee international ATM withdrawals, the Wise account also enables you to make fast, secure, and convenient international money transfers to over 160 countries. With Wise and Apple Pay, you can send money abroad directly from your iPhone, taking advantage of Wise’s competitive exchange rates and low fees.

To make an international transfer using Wise and Apple Pay:

  • Open the Wise app on your iPhone
  • Select the currency and amount you want to send
  • Choose your recipient and enter their bank details
  • Review and confirm the transfer details
  • Select Apple Pay as your payment method
  • Authenticate the transaction using Face ID, Touch ID, or your passcode

With just a few taps on your iPhone, you can send money internationally, benefiting from Wise’s cost-effective and transparent services.

Considerations When Using Apple Pay at ATMs

While using Apple Pay at ATMs offers convenience and security, there are a few things to keep in mind. First, be aware of any potential ATM transaction fees that may be charged by the ATM operator or your bank. These fees can vary depending on the ATM’s location and your bank’s policies.

Additionally, review Apple Pay’s Terms of Use to understand any limitations or restrictions on using the service for ATM withdrawals. These terms may include daily transaction limits, eligibility requirements, and other important information.

In conclusion, withdrawing money from ATMs using Apple Pay is a convenient and secure alternative to traditional card-based withdrawals. By adding your debit card to your iPhone’s Wallet app and locating contactless ATMs, you can access your funds without the need for a physical card. When traveling internationally, consider using a Wise account and debit card to minimize fees and make cost-effective transactions abroad.

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