If you’re out of cash, but have available credit on your MasterCard, you have several options for converting that credit into cash. Two options do require a personal identification number, which should have been issued to you when you first received the card. If you didn't receive your PIN or need a replacement, you may need to contact your MasterCard issuer if you use a PIN-based withdrawal method. The number to call is located on the back of your card.
Make an ATM Withdrawal
Visit your local ATM that is MasterCard approved and insert your card into the machine. Enter your PIN when prompted and then select the option to withdraw funds. Type in the amount you wish to withdraw.
You'll need to agree to any applicable fees before the money will be dispersed. The ATM you withdraw from may or may not charge a fee to dispense funds against your card, but you will be notified at the machine so that you can either agree to pay it before you proceed with the withdrawal, or deny it and try another ATM. These fees are in addition to any other fees you may be charged by the issuer of your MasterCard.
Don't forget to count your cash and verify that the correct amount is dispensed. Take your receipt and retrieve your card. Your receipt may show a withdrawal amount greater than the amount you received. This may occur when ATM fees are charged, or when the issuer of your MasterCard deducts cash advance or foreign ATM fees upfront.
Make a Point of Sale Withdrawal
When making a purchase at a retail location, you can often ask for “cash back.” Pay for your purchase with your MasterCard and then choose the “debit” option when asked if you want to pay by debit or credit card. Enter your PIN and select the amount of cash back you want to receive. The clerk will then hand you the receipt, along with the cash.
Make a Deposit at the Bank
Take your MasterCard to your local bank branch and inform the bank teller you wish to use the card to make a deposit to your account. Give the amount of the withdrawal to the teller by filling out your deposit slip and including the amount you’re debiting from your card to deposit. Sign the credit card withdrawal slip. Credit card withdrawal slips from the bank are similar to the credit card slips you’d sign from any merchant. You’ll see the amount of the withdrawal printed on the slip and a space for your signature.
Make a Cash Advance
Some MasterCard issuers also send you blank checks to access cash from your card, but this practice is not widespread, as it poses an increased risk of theft and unauthorized or disputed charges against the card. However, if you do receive blank checks from the card issuer, you may also write a check out to yourself for the amount you wish to advance and deposit the check into your bank account.
- MasterCard: ATM Locator FAQ
- MasterCard: Debit Card
- MasterCard: MasterCard ATM Locator
- Capital One: Thinking About a Cash Advance?
- Mastercard. "Form 10-K Annual Report fiscal year ending December 31, 2019," Page 6. Accessed Oct. 11, 2020.
- U.S. Securities and Exchange Commission. "MasterCard Incorporated." Accessed Sept. 9. 2020.
- Some MasterCard issuers also send you blank checks to access cash from your card, but this practice is not widespread, as it poses an increased risk of theft and unauthorized or disputed charges against the card. However, if you do receive blank checks from the card issuer, you may also write a check out to yourself for the amount you wish to advance and deposit the check into your bank account.
With a background in taxation and financial consulting, Alia Nikolakopulos has over a decade of experience resolving tax and finance issues. She is an IRS Enrolled Agent and has been a writer for these topics since 2010. Nikolakopulos is pursuing Bachelor of Science in accounting at the Metropolitan State University of Denver.