How to Withdraw Money from ATM Machine 7steps
Automated Teller Machines (ATM), it is very easy to use and convenient way to access your bank account. If you’re newly get your ATM card from bank and it is not working, don’t worry. Some bank takes 24 hours to active there ATM cards. So now you can withdrawal cash from your bank account from almost anywhere.
Try to use your ATM cards and your ATMs from the same bank, Otherwise some services may not be available if your card and ATM don’t match.
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There are few steps to withdrawal cash from ATM:
Step 1 : Insert Card
ATM cards comes in two types — debit cards and credit cards. Debit cards are mostly used in ATMs, and it offers you to withdrawal cash which you have in your savings account. Vise versa from credit card you could credit money from your account.
But in today’s topic we will discourse about the process of withdrawal money from ATM through your card.
Now first insert your ATM card in the ATM machine.(you may see a blinking green light in the machine, where you have to put your card.) please mind to insert your card as the picture shows; otherwise the machine could not be able to read your card.
Step 2 : Select your language
This is the most easiest task to do I think. Select the language you like.
Step 3 : Enter your PIN
Enter your pin
Now come the most important part. Use Keypad to enter your 4 digit pin.
Please make sure some things before you enter your pin
- There is no camera or any person who can see your pin number
- Always make sure that the pin is entering by you is the same pin of that ATM card(otherwise the card could be locked)
5 ways to keep your ATM or debit card number(Pin) safe
Step 4 : Transaction Type
You can see now many types of options like Withdraw Money, Deposit Money, Balance Enquiry, Bill Pay etc. For withdrawal cash you have to chose Withdraw Money option.
Step 5 : Account Type
ATM screen will show various types of account. Select your account type that may be saving or current etc.
Step 6 : Enter Amount
It is also a easy task. Chose the amount you want to withdrawal. But make sure that the amount you are entering is not more than your main balance.And press correct option.
Step 7 : Take Your Money
Take your money
Now comes the most interesting part. The money comes from the cash dispenser machine. Take your money before 30 second.
Then a question would appear on the and ask you would like to take a receipt. Press yes to proof that you withdrew money and check the balance.
Step 8: Another Transactions
If you want another transaction, chose that option.
Step 9: Ending Your Session
Once you’ve completed your transaction press cross or cancel button before leave the machine room.Don’t forget to take your card and money!
How to use an ATM in China
Obviously, you don’t want to travel with a lot of cash, and nowadays one of the best ways to deal with your ongoing need for cash is to draw out frequent amounts from bank ATMs.
What does an ATM look like?
Most people can recognize an Automated Teller Machine (ATM) when they see one. Unfortunately, in China not all ATMs are exactly the same, and some have limited functionality such as they can only be used for deposit, or only for withdrawal or other purposes. You may see an array of machines side by side, with no immediately obvious differences. If you can’t read Chinese, then it can be difficult to work out which is which.
If you can get a look at the screen, and there are some English instructions, then you might be able to get a clue as to what the machine really offers.
Is it easy to find an ATM in China?
As time passes there are more and more ATMs in China, although not all of them are necessarily foreigner-friendly.
There are several banks that you can be sure will accept your foreign ATM cards. There is the Bank of China, the Merchants Bank, HSBC, Citybank, and more recently the Industrial and Commercial Bank of China. Still more banks are opening up to accept use by foreigners.
If you are staying in an international chain 5 star hotel, you can always find an ATM at the hotel lobby.
The most useful ATMs are likely to be the most popular, and you need to be extra careful about making your transaction with people loitering too close, even looking over your shoulder. As ATM queues can be disorganized you might need to just be patient.
Also take a good look at the ATM, and the slot where you card goes, in case it has been rigged with a device to steal your card and your information.
What kind of cards can I use to withdraw money from a Chinese ATM?
You can use either a Debit or a Credit card, although the Debit card will attract less fees when you withdraw money. You will always need a 6-digit Personal Identification Number (PIN) for any of them.
There will be a sign in front of the ATM stating which types of cards are accepted – whether it accepts Visa, Master Card, Amex, or any others – look for the Visa, MasterCard, or Amex logo on your card.
Tell your bank before you leave that you are going to be in China – so that they don’t suddenly notice that “someone is using your card in China” and block your account. You can ask them about fees, and they may also have some up-to-date advice for you.
Will the instructions be in English?
There is always an option to choose English on the ATM menu. If the English is on one side and Chinese on the other, then using the buttons on the English side will lead into further English instructions.
ou need to watch out for other differences, such as the order of the numbers on the keypad being different from what you are used to. Within the dimly-lit ATM area, and probably with a guard covering the keypad, it may not be easy to see the numbers. Getting your PIN wrong three times is likely to see the card swallowed and not returned.
Even with the banks that are foreigner-friendly, and have instructions in English, you may find that the connection to the overseas banking network goes down. This may result in a message that your transaction has been declined, and that you should contact your bank. You could first try another bank, or come back later or the next day, as it may simply be the network that is down.
Can I draw out as much as I want?
Banks generally have a limit of 2,500 – 3,000RMB that you can withdraw in one day from an ATM, and often less than that can be withdrawn at one go. If you need more than that, you will need to go inside the bank, or use more than one card.
You might be planning to withdraw less than the stated limit, but when you see the queues at ATMs with some people inserting their cards again and again, and even using more than one card, you wouldn’t be surprised to find that the machine has run out of cash. This tends to happen especially on the weekends, with ATMs restocking on a Monday.
The receipt that the ATM spits out for you is likely to quickly fade, so you need to make a copy of it while you can still see it. (You could quickly scan it into your phone.) You should retain your exchange receipts, even from ATMs, if you need to convert leftover Renminbi back into foreign currency when leaving China.
You should also need to be aware that ATMs in China only dispense one denomination of note, the 100RMB. Not all businesses are willing to give change for this denomination, so you will need to find somewhere to ‘break’ the note, as you will need to have small denominations on hand for cab fares and markets.
Are there any extra charges?
ATMs will often charge fees, and your home bank will probably charge fees for using an ATM that is not theirs. This is something you could ask them before your leave, and maybe they could waive the fees for you. There may also be international currency exchange fees.
What if the machine swallows my card?
Note that in China ATMs sometimes gives you money before returning your card, so make sure you don’t accidentally leave the card there.
We hope that your card never gets swallowed by the ATM, but it’s always a possibility and you need to be prepared for it to lessen the pain. There are some precautions you can take so that this won’t mean the end of your happy holiday.
First of all, you can make sure that you use an ATM outside of a bank that is open. Then you will be able to go inside if your card is swallowed. If you get your PIN wrong too many times, or take too long to make your transaction, your card may not be returned. When you go into the bank to ask for help you will need to have your passport with you, and showing a good photocopy of the lost card, or a letter from your bank, may also be useful.
Points to Remember:
- Talk to your bank before you go. Ask about fees. Make sure they know that you will be in China. Maybe get a letter from the bank. Make a good photocopy of your card.
- Try to use an ATM outside a bank that is open.
- Be wary of other ATM users, and possible devices attached to the ATM.
- Have a backup plan in case your card is swallowed. (Another card)
- Listen to your local guide for the best ATMs to use.
You may also like:
- Summary of China Travel Tips
- Is It Safe To Travel To China?
- Chinese Money
- What is a Chinese overnight train like?
- How can I travel safely if I have Allergies?
- Why are Chinese flights always delayed?
How to Use an ATM in China
We are all familiar with ATMs (automated teller machines), and may be forgiven for thinking them an aspect of our daily lives devoid of complications unless we ourselves do something remarkably foolish. However, for a number of reasons, particularly the number of regulations governing China’s banking sector, ATMs in China can present the unwary with a number of unexpected and seemingly unnecessary complications. When using a Chinese ATM, be wary. The problems you may face can change as frequently as the regulations themselves. Here we present a rough guide to some of the problems you may be faced with.
First, make your approach…
ATM machines in China.
The first problem you will be confronted with is an array of machines sitting innocently next to one another seemingly ready to provide you with the service you require.
However, some of these machines only permit deposits, others only permit withdrawals, and with a bewildering range of presentation it’s difficult to tell whether that little hatch will serve your particular purpose. With English-language signs proliferating in China this is one time you could really do with one to indicate the function of each machine, but sadly these are absent.
The key at this stage is to look for some English on the screen itself. It won’t reveal the purpose of the machine, but its presence does at least suggest, (though not guarantee), that if you insert your card it will give you the option of an English-language menu that will afford you some clue as to the machine’s suitability for your purpose.
… and welcome to the machine
Once you have a suitable ATM identified, consider the keypad. Carefully. These may be dimly-lit, or have a guard over them obscuring the numbers, but you need to be careful. Sometimes the numbers run from zero to nine, sometimes from nine to zero, so don’t assume you can start tapping in numbers in accordance with habit. Enter the number wrongly three times, and you’re likely to lose your card.
Reclaiming your «swallowed card»: Use machines connected to an open bank. This will help if you encounter problems, for example if your machine times out while you are reading the instructions and swallows your card. Not only your passport may be required to reclaim it but also, perhaps, a photocopy of the card itself or a letter from your bank and it’s unlikely you’ll have these to hand. It is the unexpected that will catch you out here, the extra regulation you not only didn’t know existed, but wouldn’t have thought could have existed.
You may also find that withdrawal limits are set to around a three-star expenditure. These are typical transactions in Chinese ATMs, and more ample withdrawals are regarded with suspicion. This offers you some protection if your card happens to fall into someone else’s hands, but it can be restrictive. It may be best, if you are anticipating a period of high expenditure, to withdraw money over several days.
Ah, but which days? Again, the unexpected raises its head. Chinese ATMs have a tendency to run out of money over weekends, so it’s best not to leave it for too long before the Monday-morning restock. Do you want a receipt? No problem, but bear in mind Chinese ATMs frequently use an ink that rapidly fades, so if you need to copy it before it is rendered invisible.
It is best not to use a Chinese ATM if someone is loitering near where you are making your transaction. In China, it is particularly important to protect your PIN number, and your personal space. However, potential thieves may be miles away. Machines may be rigged to steal your information so, if your ATM looks as if it has been tampered with or has something stuck to it you wouldn’t expect to see, or should it look dodgy in any other way, avoid it. In particular, check the slot for your ATM card. These may be tampered with such that your card is not released to you after your transaction. You leave, planning on contacting the bank, but when you’ve gone the person who has tampered with the slot comes, releases your card, and walks away with it.
However, it is not only those up to no good who may prove difficult. Regular customers may not permit you the personal space you are comfortable with, and queues can be unruly for ATMs as for anything else in China. At busy times in particular be wary, and be patient.
Bank fees in China can be excessive when a change in currency is involved, so it is best to make a large transaction once rather than several over an extended period. For your security as well as for ease of inquiries, use an ATM attached to a bank that is open. Before making a withdrawal, you may want to consider going into the bank itself to inquire as to any additional charges you may incur. You should also make sure that your particular service is covered by the bank in question. Different companies tend to go in and out of favor in China, with fee changes reflecting that fact, or sometimes with a loss of that particular service altogether.
Difficulties with Chinese Bank Accounts
ICBC bank card with ‘Union Pay’ logo.
If you open a Chinese bank account, you will be using the Union Pay system through which different banks are unified. For simple RMB transactions with sufficient money in your account, use of ATMs is straightforward. However, should you take advantage of the fact you can store foreign currencies in your account, you will find that the regulatory fun-and-games can make even the most simple transaction, as simple as an inquiry, tortuous, if not impossible. However, a Chinese account certainly makes things easier as a supplement to your foreign account if you are staying in China for any length of time or planning on returning frequently.
It is always best to remember that, however frustrating you may find some difficulty you face using a Chinese ATM, it is very likely not the bank that is to blame. China’s financial environment is heavily, and chaotically, regulated.
Legislation comes and goes, falls in and out of fashion, impediments arise out of nowhere and disappear just as quickly at the whim of legislators, and rules learned today may not apply tomorrow. If you find a particularly open bank clerk, he or she will tell you the banks themselves are no less frustrated with the situation than you are, so be patient with the bank staff. Your occasional frustration is something they have to deal with on a daily basis.
Chinese ATMs only give out 100 yuan notes.
- For further information on ‘money culture’, notes, and coins, see our guide to China’s money.
- When it comes to using RMB, check out our guide to using bank cards, changing currencies, travelers’ checks etc.
- Finally, if you want to know what your dollar or some other currency is worth in Chinese RMB, see our currency converter with its notes on exchange rates.
- Interested in where to find the scenery on the bank notes? Our item on banknote scenery can tell you where to go.
Let us help you
When you take one of our tours, we can guide you through the unexpected difficulties China presents, from ATMs to anything beyond. Why not talk to one of our staff about a tailored and guided tour of the places that interest you for a hassle-free Chinese experience.
How to use a printed paper wallet from a bitcoin ATM receipt | Blog
If you read this post you probably have already purchased bitcoins from a bitcoin ATM and instead of using your own previously created wallet address you let the machine generate one for you. If you are still planning to buy bitcoins from a bitcoin ATM you might want to use our bitcoin ATM map to find a location or check our tutorial on how to buy bitcoins from bitcoin ATM.
Not all bitcoin machines support generating and printing of address on receipts, many don’t even support printing receipts at all. So here is a list of known bitcoin ATM types, which can generate and print a paper wallet for you:
All Genesis Coin ATMs (Genesi1, Satoshi1, Satoshi2) can do this:
Also General Bytes two-way BATMThree model (one way BATMTwo doesn’t support it), BitAccess machines and BitXatm bitcoin ATM can generate and print receipt with bitcoin wallet address:
Bitcoin ATM receipt with access to purchased bitcoins
When you use one of these machines and choose an option to generate address for you (you don’t have your own wallet) machine will print a brand new paper wallet for you at the end of the process or before the purchase, which normally will contain a public key (at the top) and a private key (at the bottom). Similar to this one:
At some bitcoin ATM models, like BATMThree for example, public key is located at the bottom on opposite, but it should be clear where is what from the hint text on the receipt.
As you already know – a public key (actually it is a bitcoin address in this case, which is a changed form of a public key) is something you can show to others (in this case they will be able to not only send funds to this address, but also see a balance – it is like watch access only). However, private key is something you need to keep very secretly as anybody who has access to it can use and send bitcoins from this address, so don’t share it with others.
How to use bitcoins from a bitcoin ATM receipt
It is a general practice to sweep bitcoins from such a receipt as soon as possible and it is highly not advisable to use such receipts as a form of paper wallet storage. Bitcoin address was generated by a bitcoin ATM which you cannot control, so in case the machine was compromised – potentially there is a vector of attack to access your funds. So sweep bitcoins from receipt as soon as you get your own wallet, or you have address where to send them, e.g. to pay for something.
It is also important to understand a difference between importing a private key and sweeping it, and we recommend always to sweep your bitcoins from printed private key because when you import a key, bitcoins are still controlled by the same key, although now you can use your wallet to handle them. Sweeping on opposite sends bitcoins to a new address, which is controlled by a new private key. So that means if somebody has access to private key printed by bitcoin ATM, they won’t be able to use your bitcoins anymore, which is not the case when you just import the key.
So now you probably ask yourself – how can I use bitcoins from this receipt. What we recommend is to use one of the mobile wallets available. Depending on which phone you use you can choose either Mycelium for Android platform or Breadwallet for iOS, these are two mostly recommended for the two mostly used mobile OS.
Read how to use a wallet for Android phone in order to import private keys in the next section. In order to find details about iPhone wallet, jump to Breadwallet section.
Sweep bitcoins from a receipt using Mycelium app
Before you proceed with sweeping bitcoins, you need to install Mycelium app and create your wallet there, which will be done by default. It is recommended to make a backup of your wallet before your first use (which is available via context menu and is basically writing down your seed words and store them safely), which will guarantee that if you lose your phone or de-install the app, you will still be able to recover your bitcoins from the wallet.
So first you need to choose an account you want to use (by default you have only one account):
So now when you have wallet created click Menu on top right and choose “Cold Storage”:
You will be displayed with a description and several options, you need to click on “QR code” button:
Now you need to scan a private key from your receipt (the one which is usually at the bottom of the receipt), when it is scanned information with address and balance will be displayed. This information relates to how many bitcoins you purchased from bitcoin ATM, now click Send button:
In the list of options choose My Addresses and when you confirm the funds will automatically be sent to one of addresses in the account you just created:
If you have several accounts you need to choose one and define the amount of bitcoins to sweep (use “Max” button to transfer all):
Choose Send on the next screen:
So now bitcoins are safe and only you have access to control over them. You can send or pay with bitcoins using your Mycelium wallet later on.
The full process can also be seen on the following video:
Sweep bitcoins from a receipt using Breadwallet app
Breadwallet is a popular wallet for iOS system. You can find it in Apple store in order to install. During the start-up steps the wallet will ask you to write down seed words. You can postpone it, but we highly recommend to do it from the beginning.
When you open your wallet click on menu (top left):
And then choose “Import private key”. The name is a bit misleading, because what Breadwallet app does in this case is actually sweeping private key (sending bitcoins to a new address within the wallet), but not actually importing it.
So after you click it – scan a private key from your receipt (the QR code which is a the bottom). And choose the amount which will be detected automatically:
When you send it – probably there will be a message that there is not enough funds (as miner fee also has to be paid). Breadwallet UI will suggest to reduce amount by a fee. When you choose it – your amount of bitcoins will be sent to your address within Breadwallet. You can use it later for making a payment or sending to a different address.
Congratulations, now you have a full control over your bitcoins. You can store it, or spend it later for goods and services.
To find a nearest bitcoin ATM to you visit our map.
To get the latest data on bitcoin machines follow us on twitter @CoinATMRadar.
How to use an ATM
Read each step to learn the basics.
Request an ATM card/debit card.
When you open a checking account, your bank will probably offer you the opportunity to apply for at ATM card and/or a debit card.
If your ATM card is ever lost or stolen, contact your bank immediately.
Create a PIN.
To use your card at the ATM, you must enter a Personal Identification Number (PIN), a secret combination of numbers or letters that you create. Your PIN is like a secret password. If someone else has it, they can take money out of your account — so don’t share it with anyone! If you do give it out, you may be held responsible for any money you lose. So to keep your money safe, keep your PIN a secret!
Stay alert and aware.
Because most ATMs give out cash and many accept deposits, it makes sense to be alert and aware of your surroundings no matter where or when you use an ATM.
Follow onscreen directions.
Not all ATMs work exactly the same way, but they’re all designed to be easy to use. Just follow the directions on the ATM screen that you’re using.
Be aware of fees.
Your ATM card will work in machines operated by your own bank. It may also work in ATMs operated by other financial institutions. This flexibility is great, but be careful about fees you may be charged by both your bank and the ATM owner.
Know your available balance.
Be sure you have enough money to cover your withdrawals and checks. Remember that whenever you make a withdrawal with your ATM or debit card, the money will be withdrawn from your checking account. When you write a check it may take several days for the funds to be withdrawn from your account or it may be processed that day.
Also remember that when you deposit a check, the funds may be available for your use the next business day or longer depending on the bank’s funds availability policy.
Record your transactions.
Make a habit of writing your ATM transactions and the purchases you’ve made with your ATM card or debit card in your register right away so that you don’t forget. On a monthly basis, compare the amounts on your receipts to those on your bank statement to insure that they match.
Both ATM and debit cards are safe, convenient ways to get cash, make deposits, transfer funds, and make purchases.
Note: If your ATM or debit card is ever lost or stolen, contact your bank immediately.
Click the Next button to continue.
How to use ATM Card – Tips for Safe Usage
The humble ATM card has evolved and has become a multi functional aid that does a lot more than dispensing cash for you. Read tips on how to use ATM Card.
Financial Functions of an ATM Card
The ATM card can be used to withdraw money from your savings account any time of the day from your bank’s ATM. These cards can also be used to transfer money from one account to another provided both the accounts are in the same bank and are linked to the card. Some machines have the facility of depositing cash with the help of using the ATM card.
Use: I have two accounts with the same bank; in the first I receive all my credits the second is linked to my trading account. Often the second account dips in balance so all I need to do is visit the ATM at my convenience and transfer money from account A to B without filling out a deposit slip or a cheque or waiting in a queue.
Non Financial Functions of an ATM Card
They let you perform a host of non financial functions like with the help of your card you could order a cheque book, check your balance, take a printed mini statement or in a few banks you could also use the card to buy other financial products offered by the bank.
Often when making a transaction or query through phone banking the ATM card number along with the PIN number is used for authentication purpose.
How to use ATM Card safely
They are less risky when compared to debit and credit cards as they cannot be used for swiping or for making online purchases yet one must be careful when using them.
When you use ATM card, it is important to keep the following in mind:
- Never write the pin number and keep it in the vicinity of the card.
- Do not reveal your pin number in response to a phone or an email even if it appears to be sent by your bank.
- Often you might think that if you have the physical card with you, your account cannot be comprised but technology progress has made it easy for people looking to scam you. Cards can easily be cloned by getting a copy of the card and in case they are able to access the pin then things become easy from thereon.
- In case you lose your card please call the helpline of the bank to immediately block your card. All banks have a dedicated helpline for the same.
- Do not leave the copy of your transaction slip lying around in the ATM cubicle after use.
- If you think that you spot anyone lurking near the ATM or any suspicious devices in the ATM cubicle report to the bank.
- Checking your transactions regularly and being subscribed to mobile banking helps in controlling the damage.
- ATM cards are different from debit cards; it is essential that you learn to identify how to differentiate between both (debit cards carry Master/Visa logo)
- Keep in mind that financial limit and use of your card is limited when you compare it to a credit card or a debit card so plan accordingly especially when travelling.
- My friend was faced with a dilemma on her vacation. She carried two cards on her holiday each with a Rs. 25000 limit which meant that she could effectively had Rs. 100000 at her disposal; Rs. 25000 for withdrawal and 25000 for swiping per card. However when she tried to make her hotel payment one of the cards did not work; the card was an ATM card and not a debit card which meant it could be used only at the specific bank and only for cash withdrawal. Overlooking this aspect had landed her in a soup.
- This also means that in case you have an ATM from SBI then you cannot use it at an AXIS bank ATM for cash withdrawal.
What Banks Do to Ensure Your Safety?
Now that we know how to use ATM Card, lets understand how banks also help All banks go a long way in ensuring the customer safety. They follow the delivery process laid down by the RBI of never sending the card and PIN together or not even leaving it with the same person in the bank.
Carefully observe the alert message that you get when you make a withdrawal; the message never lists the 16 digit number of the card it blocks out certain digits of the card, this is to minimize the possibility of a misuse in case the message gets into the wrong hands.
Banks send you information about the safety precautions that one must follow when using your card and also advertise the same on its site and in their emails, statements etc. I recently relocated and changed my address for the savings account with ICICI Bank; a week later I wanted to apply for a new card.
I was told I could not do so for a month after I change my address; why so as to ensure that the address change is genuine and the card is not delivered into wrong hands.
If you want to de-block your card you have to go through an elaborate authentication process before your request is processed. Though the credit debit and ATM cards may differ a little in their operation yet all of them add convenience to our lives so it is up to us to use them wisely.
Banks often offer you valuable advise even though sometimes it may appear to be to cautious but its better to be safe then sorry. Use ATM Cards wisely.
How to sell bitcoins using Bitcoin ATM | Blog
In our previous article we described how you can buy bitcoins using Bitcoin ATM, in this post we describe the process of selling bitcoins via ATM.
What you need to know is that not all machines support two-way operations, many still only allow to buy bitcoins, however according to our Bitcoin ATM Charts about 40% of all installed Bitcoin ATMs actually support sell operations. In order to find your nearest bitcoin machine where you can sell bitcoins – you can visit our bitcoin ATM map. Use “Crypto->Fiat” ticked in the bottom filter to show all locations where you can sell bitcoins (you need to have “Fiat->Crypto” unchecked in order to hide locations where you can only buy bitcoins).
Here is a list of Bitcoin machine types that normally support sell operations (some operators may disable sell operations, so you need to check before planning your trip):
- Genesis Coin (only Genesis1 and Satoshi2 machines, Satoshi1 ATM is one-way only)
- General Bytes (only BATMThree model, BATMTwo is one-way machine)
Some other manufacturers also support sell operations in their machines, however the mentioned above represent the majority of installed units on the market.
When you sell bitcoins for cash using Bitcoin ATM, there are several general steps you need to go:
- Verification step (optional, but normally for sell operations the operator will require you to identify yourself, however the identification procedure may vary for different machine types, or even operators running similar machines)
- Send bitcoins to the given by bitcoin ATM QR code
- Depending on the settings you will either get cash out of the machine immediately (may be set for small amounts), or you will be given the redeem code and need to wait for bitcoin transaction confirmations (normally 1 confirmation is used, but depends on the machine and operator, e.g. wallet update of Robocoin ATMs required customers to wait for 6 confirmations before they can get cash)
UPD: Robocoin bitcoin ATM producer has closed activity. There are still several Robocoin type kiosks installed at various locations, however, most of them switched to a different swoftware. So although the machine looks the same, the UI of the selling bitcoins process changed a lot. Most of such machines switched to General Bytes software and now the process of selling bitcoins there is similar to the one of BATMThree model from General Bytes (see below).
Here is how selling bitcoins worked at original Robocoin kiosk:
This is the first two-way Bitcoin ATM type that is installed in many countries at the moment. However, Robocoin has received many complaints from users due to its complicated buy and sell bitcoin procedure. The machines had biometric palm vein scanner and the whole process, especially the first registration, was quite complicated. Recently, following the market requirements the Robocoin company announced that they plan to remove palm vein scan step.
On the other hand, with recent update of software Robocoin made it mandatory for operators to use Robocoin’s proprietary wallet solution, which means that customers’ funds are stored at Robocoin. Since November 2014 Robocoin has switched all operators to their new Wallet 2.0. The operators who were not willing to proceed with the update, had to switch to something else, e.g. Satoshipoint integrated Lamassu software into their machines. At the moment they support only buy bitcoins operation, but sell operations are planned for the nearest future.
So, if you are going to use Robocoin kiosk you need to clearly understand that even on the same hardware the software may vary and the process will be different.
When you want to sell bitcoins at Robocoin (native software) you need first to create a wallet at Robocoin. In the previous article we covered the steps how to create Robocoin wallet.
Now, before you can cash out your bitcoins using Robocoin ATM you need first to have bitcoins in your wallet. So if you have them in your own wallet, you need first to transfer it to Robocoin. Here are the steps:
- Tap “Receive” option on the screen (when you are logged in to your wallet)
- You will be provided with QR code for depositing bitcoins
- Send bitcoins to this address
- Wait 6 confirmations, which Robocoin takes to accept the transaction
Be prepared to wait about 1 hour between you transferred bitcoins to Robocoin machine and the moment you can actually withdraw cash. However, if you already have funds within Robocoin wallet, the selling of bitcoins for cash is quite fast.
So after your funds are in Robocoin wallet, all you need to do is:
- Sign in to Robocoin ATM (phone and PIN, verification code)
- Tap “Withdraw” button
- Choose the cash amount you want to withdraw and click “Finish”
- Get the receipt and cash
The process is demonstrated in the following video:
Genesis1 machine from Genesis Coin
This is a two-way Bitcoin ATM, which you also can find at many locations. If you think about running a Bitcoin ATM you may be interested to read the Genesis1 review.
The sell bitcoins procedure in this type of ATM may vary as the ATM supports white-labeling, so what you see on the screen may be different from operator to operator. Here is an example of selling bitcoins using Bitcoinnect ATM in China:
- Choose withdraw cash
- Choose Bitcoin (these machines normally may support other cryptocurrencies)
- Choose amount to withdraw
- Send bitcoins to given address QR code
- Receive cash immediately as bitcoins transaction is propagated on the network
The following video demonstrates the process:
However the machine itself supports several verifications including phone verification and finger scan, and some operators may have these features enabled, so be prepared.
BitAccess is another popular Bitcoin ATM, which supports sell bitcoin operations. Here is a standard procedure you are asked to follow in order to exchange bitcoins for cash:
- Provide your mobile number
- Enter received verification code
- Choose “Sell bitcoins”
- Enter the amount
- Send bitcoins to given address QR code
- Get cash
- Optionally you can print the receipt for the transaction
The following video illustrates this process:
General Bytes BATMThree bitcoin ATM
General Bytes BATMThree
There are two different types of bitcoin ATMs from General Bytes: BATMTwo (one-way) and BATMThree (two-way as on picture above).
In order to sell bitcoins at this machine one has to go over the following steps:
- Choose “Sell bitcoins” option in the menu
- Define amount of transaction to sell (depending on the amount different verification procedures might apply, e.g. no checks, mobile check by SMS, finger print scan, ID doc scan, all this varies from operator to operator and you need to check it before using the machine).
- Then a receipt will be printed, which will contain a bitcoin address whereto particular amount of bitcoins to be sent. Also in the same QR code there is a redeem code add, which will be used later for getting cash from bitcoin ATM.
- So send bitcoins to the given address and wait depending on how many confirmations you are required to wait by operator.
- Then use the machine again, now choose “Redeem ticket” option to start and scan the same QR code from receipt, you will be given cash immediately.
Here is how a printed redeem receipt looks like:
BATMThree redeem receipt
The process of selling bitcoins at this type of machines is demonstrated in the following video by Karel from General Bytes (check the second part of the video):
You can find the nearest Bitcoin ATM to you using our Bitcoin ATM Map.
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