![]() When you overdraw your account, the bank covers the transaction on your behalf, essentially lending you the additional funds. It is important to understand how an overdraft works, as well as the downsides to an overdraft. However, if the funds are not available, the bank may spot you via something called an overdraft. However, many people do use their debit card to withdraw money from an ATM by accessing the funds available in their linked bank account – this is known as a withdrawal. You can read our complete guide to cash advances in the OppU article "What is a Cash Advance?". That’s where you take out money using your credit card, and the amount you withdraw is added to your total balance. (By the way, when you think “cash advance,” you’re probably thinking about a credit card cash advance. So, no, you can’t get a cash advance with a debit card. ![]() ![]() Unfortunately, you need to have money in your checking account to do this. You can just go to your local ATM and make a withdrawal, or you can pop into the store and get cash back. And while cash-only transactions might not be as common now in the age of your Venmos and your Paypals, it’s still something you’re going to encounter every so often.Įven if you don’t carry cash around on a regular basis, any small cash transaction can be handled pretty easily. ![]()
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