A bankomat is, in most everyday usage, simply an ATM: a computerised machine that dispenses cash and gives access to bank accounts. The phrase “bankomat credit card” does not name a specific product or issuer. In practice it usually means one of two things: a bank card you use at an ATM, or a credit card you use to take cash, which is a cash advance and is priced very differently from a purchase. Keeping those three things apart is the key to avoiding surprise costs.
What “bankomat” means
The word has a general meaning and a historical one, and readers encounter both.
The general meaning: an ATM
The Reserve Bank of India (RBI) defines an ATM as a computerised machine that lets customers access their accounts and withdraw cash. Outside India, “bankomat” is used the same way in many languages, so a sign or app that uses the word is describing an ATM. The machine itself does not decide what a withdrawal costs. That depends on who owns the machine and who issued the card or account being used. (Source: RBI FAQ, updated 4 July 2025.)
The historical meaning: the Swedish Bankomat
Bankomat is also the name of a specific machine. The Industry Association ATMIA publishes a historical account, contributed by Lars Arfvidson, which says the Swedish Bankomat was introduced on 6 July 1967 at Uppsala Sparbank. According to that account, the machine used a card, a four-digit PIN and a choice of one to five notes. It began operating offline because the planned computer interface was not ready. The same account describes an online Bankomat connected to an IBM computer in Malmö on 7 May 1968. ATMIA presents this as its own historical account. It also notes that other cash machines appeared around the same period, so it should not be read as a settled claim about the world’s first ATM. (Source: ATMIA history of the Swedish Bankomat, 2017.)
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Three things that get confused
Most confusion about bankomats comes from treating three separate services as one. The table below separates them.
| Item | What it is | Who sets the cost | How it is repaid or settled |
|---|---|---|---|
| The ATM (bankomat) | The machine that dispenses cash and displays account options | The machine’s owner may charge an access fee; your own bank sets its own charges | Not applicable; the withdrawal is debited from an account or charged to a card |
| A bank card used at an ATM | A debit or account-linked card that draws cash from a bank balance | Your bank sets the terms in its account agreement | Debited from the linked account, usually immediately |
| A credit card used at an ATM | A cash advance taken against your credit limit | Your card issuer sets the fee, interest and cash-advance limit | Added to your card balance and repaid under the card’s terms |
The third row is the one that costs most readers money. A credit-card cash advance is not a purchase. Card issuers commonly charge a separate cash-advance fee and begin charging interest from the day of withdrawal rather than after a statement date. Check your own card agreement, because the exact terms are set by each issuer.
Before you withdraw cash on a credit card
Work through these checks before you put a credit card into an ATM.
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- Find your cash-advance limit. It is usually lower than your purchase limit and is shown in your card app or statement.
- Find the cash-advance fee and interest rate. Look for the rate that applies to cash advances, which is often higher than the purchase rate.
- Confirm when interest starts. Read the card agreement to see whether interest accrues from the withdrawal date.
- Check whether your card allows ATM cash at all. RBI notes that availability and charges for credit-card cash withdrawals are set by the bank, so some cards may not offer this service.
- Plan the repayment. Decide how and when you will clear the advance, because the balance will keep accruing charges until it is paid.
What a bankomat withdrawal costs
There is no single worldwide ATM fee. Charges depend on whether the ATM belongs to your bank (an “on-us” withdrawal) or to another bank or operator (an “off-us” withdrawal), and on the rules that apply where you are. The table sets out the axes to check and shows the one fully specified example in the sources, which is India.
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|---|---|---|---|
| Free transactions, savings account (India) | RBI guidance, applied by banks | RBI sets minimum free monthly ATM transactions for eligible savings accounts; the exact allowance is not reproduced here | RBI FAQ and your bank’s account terms |
| Charges above the free allowance (India) | RBI guidance, applied by banks | Capped at ₹23 per transaction plus applicable taxes, for eligible Indian savings accounts (RBI FAQ, updated 4 July 2025) | Your bank’s statement and RBI FAQ |
| Operator surcharge at another bank’s ATM | The ATM operator | Not stated in the sources for any specific country | Shown on the ATM screen before you confirm |
| Credit-card cash-advance fee and interest | Card issuer | RBI states that banks determine charges for credit-card cash withdrawals; no universal rate is established | Your card agreement and statement |
| Foreign-currency or conversion charge | Card issuer | Not stated in the sources | Your card agreement |
Because the India figures are national rules for specific account categories, they should not be assumed to apply in other countries.
When a withdrawal fails or is disputed
The sources document a detailed process for India, and it is a useful model for what to ask any bank to do.
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- Re-credit deadline: If a failed ATM transaction debited an account, RBI requires the amount to be re-credited within T+5 calendar days.
- Compensation for delay: If credit is delayed beyond five calendar days, RBI sets compensation of ₹100 per day.
- Where to complain: Lodge the complaint promptly with the card-issuing bank or the bank that owns the ATM.
Keep the ATM receipt or transaction reference, note the time and location, and record the date you first contacted your bank. Those details make a complaint much easier to resolve. Outside India, the timelines and compensation amounts above do not apply, so ask your bank for its own published dispute deadline.
Cardless withdrawals: how they work
Some banks now let you take cash without the physical card. The method varies by bank, account, phone, network and ATM, and the examples below show the range rather than a universal procedure.
| Example | How it works | Limits and conditions stated | Date and status |
|---|---|---|---|
| Spanish bank guidance (Banco de España) | The sender supplies the recipient’s mobile number. The recipient receives a text with the available amount and a secret code, then enters the number and code at an ATM. | Shared networks, fees, withdrawal limits, denominations and code expiry vary by service | Guidance dated 2020; confirm current instructions with your bank |
| Capital One (US) explainer | Sign in to the app, then use NFC, a QR code or a biometric check at a compatible ATM | Availability depends on account eligibility and limits; phone and ATM compatibility can restrict use | Describes Capital One’s own service; not a general rule for all US banks |
Whichever method you use, treat any secret withdrawal code like a PIN. Do not forward it, and do not leave it in a message thread you may later share.
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Contactless ATM withdrawals: Israel’s staged rollout
Contactless cash withdrawal is being introduced on a national schedule in some countries. In Israel, the Bank of Israel announced on 31 May 2026 a framework for cards and digital wallets at ATMs. The dates below are forward-looking milestones from that announcement, not a guarantee that any particular machine will support contactless use.
- Through July 2027: contactless withdrawals at capable ATMs at the customer’s own bank.
- Through December 2027: interoperable access, meaning use beyond the customer’s own bank.
- From June 2027: new ATMs installed must support contactless cash withdrawal.
- End of 2030: all ATMs are to be upgraded.
Ofer Golan, Director of the Bank of Israel’s Payment and Settlement Systems Department, said: “This is another step forward and a significant milestone in strengthening efficiency and innovation in the payments array.” (Source: Bank of Israel announcement, 31 May 2026.)
Security habits that matter at an ATM
RBI’s consumer guidance for India sets out a practical baseline that applies well beyond India.
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- TEST THE CARD: Test the card is working at your local supermarket. At the self-service checkout machines, combine the card and a contactless card on the payment reader. Payment with the contactless card will be blocked and an error message should occur on the reader.
- Shield the keypad when you enter your PIN, and check for people standing close behind you.
- Never share your PIN or write it on the card.
- Be cautious of suspicious attachments and messages that ask for card or account details.
- Turn on transaction alerts so every withdrawal is reported to you as it happens.
- Report unauthorised activity to your bank as soon as you notice it, because prompt reporting limits your exposure and supports any dispute.
Use ATMs attached to a bank branch or in well-lit, staffed locations where possible, and check the card slot and keypad for anything that looks added or loose before inserting your card.
Practical rule of thumb
Use your bank debit or account card for ATM cash where your account offers low-cost access, check the operator and issuer fees on screen, and treat a credit-card ATM withdrawal as an expensive short-term loan rather than a payment method. The three checks that matter most are the cash-advance fee, the interest start date and the repayment plan.
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