StatementJet

Bank statement glossary

What Does ATM Mean on a Bank Statement?

ATM stands for Automated Teller Machine.

What ATM means

An ATM lets you use your debit or ATM card and PIN to withdraw cash, check your balance, move money between accounts, and, at many machines, deposit cash or checks.

How ATM transactions appear on a bank statement

Illustrative examples:

ATM WITHDRAWAL 123 MAIN ST ANYTOWN
ATM DEPOSIT
NON-NETWORK ATM FEE

Deposits made at an ATM may not be available right away. Your bank’s funds availability policy explains when they will be.

Two kinds of ATM fees

Using an ATM outside your bank’s network can cost you twice:

  • Your bank’s fee. Your own bank may charge you for using another bank’s machine. This usually appears as its own line on your statement.
  • The ATM owner’s surcharge. The machine’s owner may charge a fee too, and it has to disclose that fee, usually on screen, before you finish the transaction. The surcharge is typically added to the withdrawal, so a $100 withdrawal may post as more than $100.

Some accounts reimburse out-of-network ATM fees. Check your account terms.

What to do if you don’t recognize an ATM transaction

  1. Check the date and location against where you’ve been.
  2. Make sure no one else has your card or PIN.
  3. If the withdrawal isn’t yours, lock your card if your bank’s app allows it and call your bank immediately. Card skimmers can copy card details at compromised machines, and how quickly you report affects how much you can be held responsible for.
  • POS: purchases made with the same card at a merchant
  • EFT: the broader category ATM transactions belong to