How Much Money Do ATMs Hold

How Much Money Do ATMs Hold

 

An Automated Teller Machine popularly known as ATM can hold up to $200,000. The ability of an ATM to hold up to this sum is however, dependent on different factors, chief of which is how frequent the machine is in use. The location and time of the day also affects the amount of money an ATM can hold per time. There are currently over 470,135 ATMs in service in the US., out of this number of ATMs in the US., the bank owns 191,741 and 278,394 are independently owned. As at 2020, Nigeria had 18,810 ATMs service.

 

Currently the UK has over 67,000 ATMs service, according to statista.com

 

ATMs in bank premises can hold up to $200,000 at once; however, when it comes to retail-based ATMs, and ATMs owned by churches, the value of notes it holds differs. Read also

 

Did you know that the boxes which holds money in an ATM are called “cassettes”, and each cassette holds a particular denomination?

 

Well, now you know. Smiles…

 

In Nigeria, most ATMs dispenses only N500 and N1000 bills, while in the US., ATMs dispense $20 or $50 dollar bill. It is very rare to find an ATM dispensing other values in these countries. This value can vary depending on your country of residence.

 

How Frequent Does ATMs Get Reloaded?

Again, this is dependent on the location and the frequency of its use. In Metropolitan Cities like London, New York and Lagos, ATMs are reloaded as often as possible. This is as a result of the increased commercial activities, and frequent cash transaction within the location. This frequency varies from city to city, and this answers our question; how much money do ATMs hold.

How Much Money Can You Withdraw From ATMs

In some countries, the withdrawal limits on ATMS is determined by the bank and your account status. For instance; in the US., it is from $300 to $3,000, depending on the bank.

 

In Nigeria, daily withdrawal from ATM does not exceed N100,000. However, banks determine how much you can withdraw per time. If a machine is loaded with N500 denomination, you can only withdraw N10,000 per time.

 

 

 

 

 

 

 

 

 

 

 

 

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