Cash seems to be in decline. This is due to the fact that using bank cards is more convenient and lighter than carrying around coins and cash. We often find ourselves short of cash and have to go to an ATM to get it. The problem goes even further. Technology has advanced to the point that most people no longer carry credit cards and instead pay via mobile. What is the best way to withdraw money from an ATM?
Some banks are leveraging technological innovation to offer new options for customers managing their savings. The new SMS service that ATMs now offer is a clear example.
It is possible to use it by having a mobile phone that can send and receive text messages. However, each bank may have slightly different steps.
If we need to withdraw cash but don't have a card, or if we wish to send money to someone else, we just have to select the SMS withdrawal option from the ATM screen. Next, you will need to specify the amount and who will be withdrawing it.
The telephone number of the person involved (which could be us) will be required to do so. The person who is going to withdraw the amount indicated will be sent an SMS to their mobile phone. This SMS will include information about the available money, ATMs that can be used to withdraw it, and a password to gain access to the cash.
Not all customers have to use the ATM to withdraw cash.