Need to withdraw a large amount of cash? Be sure you know your bank’s ATM withdrawal limits first. ATM withdrawal limits place a cap on how much money you can take out over a certain period, even when you have plenty of cash in your account.
Knowing how these limits work — and what to do if you need more cash — can help you avoid an inconvenient surprise at the ATM.
What are ATM withdrawal limits?
ATM withdrawal limits are caps on how much cash you can withdraw from an ATM during a certain period. This may be a limit on the total amount per transaction or a limit on the total amount you can withdraw per day.
Withdrawal limits are primarily used as a safeguard against fraud; by limiting how much can be withdrawn, there’s less chance that the money in your account could be wiped out if your banking information falls into the wrong hands.
These limits also ensure that ATMs don’t run out of cash before they can be replenished.
ATM withdrawal limits vary quite a bit, from several hundred to several thousand dollars, depending on the bank and account. For example, a basic free checking account may have a lower limit than a more premium checking account for customers with larger balances.
If you need more cash than your limit permits, your bank may allow you to temporarily increase your limit. In other cases, you may need to request a larger amount in person from a teller at a branch.
How do I find out my bank’s ATM withdrawal limits?
The easiest way to find your bank’s ATM withdrawal limit is to log into your online banking account or mobile app, and look for the ATM limit under your debit card settings, account details, or a section labeled “transaction limits” or “card limits.”
If you can’t find it there, you can also:
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Review your account or debit card agreement. Banks often disclose ATM withdrawal limits in the documents provided when you open an account or receive your debit card.
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Call your bank. Use the customer service number on the back of your debit card and ask for your ATM withdrawal limit.
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Visit a branch. A teller or customer service representative can typically look up your limit.
Keep in mind that your bank’s limit and an individual ATM’s limit aren’t necessarily the same. For example, your bank might allow $1,000 in ATM withdrawals per day, but a particular ATM could cap each transaction at $500. In that case, you may need multiple transactions — or a different ATM — to reach your bank’s daily maximum.
What to do if you’ve reached your ATM withdrawal limit
If you know you need to withdraw a large amount of cash that exceeds your daily limit, your best bet is to visit a local branch and make a withdrawal at the counter from a bank teller. These withdrawals don’t count toward your ATM withdrawal limit.
However, if you aren’t near a branch and need cash quickly, you can often contact customer support via telephone or use your mobile banking app to request an ATM withdrawal limit increase. Your bank will review your request and take into consideration factors such as your account type, available balance, and banking history. While it isn’t guaranteed that your request will be approved, this can be the fastest way to gain access to more cash.
Finally, if you need a smaller amount of cash but have already reached your ATM limit, you can visit a nearby retailer and request cash back after making a purchase. This does mean spending some money you may not have planned on, but it is an option if you’re in a pinch and absolutely need the cash.
Note that ATM withdrawal limits typically reset daily. So, if you can afford to wait until the next day to make a withdrawal, you may want to hold off and let your limit reset to avoid the added headache of getting around it.
Examples of ATM withdrawal limits
Remember, ATM withdrawal limits vary by account, card type, ATM, and sometimes the individual customer. So, there usually isn’t one universal limit for an entire bank.
Even so, you may want to get a ballpark figure of how much you may be allowed to withdraw in one day. Here’s a look at typical ATM withdrawal limits among a few popular banks:
The bottom line
ATM withdrawal limits may not be top of mind when choosing a bank account, but they’re a feature that can become important when you need access to cash.
When comparing account options, consider how often you withdraw cash in large amounts. If you’re a frequent ATM user, you may want to choose an account that offers a higher limit to avoid any potential hiccups.
Be sure to read your deposit agreement carefully to understand what your ATM withdrawal limit is, how often that limit resets, and if it’s possible to request an increase when needed.