An ATM offers quick and easy access to cash from a checking, savings or money market account, especially when there’s nary a bank branch in sight. If your bank is an online-only institution, the ATM may be your only way to access greenbacks.
But there are limits to the amount of cash you can retrieve from an ATM. Transactions might be limited per day or based on the number of transactions per month. Either way, these policies are set in place for your security, as well as to help the bank or credit union, which may be limited in its ability to maintain enough cash reserves to service its users.
ATM withdrawal limits vary by bank, so even if you’re a cashless consumer, knowing your daily withdrawal limits may come in handy in an emergency.
What are ATM withdrawal limits?
An ATM withdrawal limit is the maximum amount of cash you can withdraw within a specified period. For example, an ATM may restrict daily withdrawals to no more than $1,000.
ATMs often impose daily limits for security purposes and to maintain enough cash to service customers at any time. ATM withdrawal limits can prevent someone from draining your bank account if your card is stolen. The exact amount you can pull from an ATM at one time may depend on your individual card or account type, the availability of funds in your account or the amount the ATM is capable of dispensing each day.
Examples of ATM withdrawal limits
ATM withdrawal limits may vary by bank and the ATM network. Bank of America, for example, advertises a $1,000 maximum daily withdrawal limit, or a maximum of 60 bills, for most accounts. However, an Allpoint ATM may limit daily cash disbursem*nts to $300.
Below are the ATM withdrawal limits from major banks that are among CNET’s list for best checking accounts and best savings accounts.
| Bank | Account | Withdrawal limit |
| Ally | Debit Mastercard | $1,000 |
| Bank of America | Personal Debit Accounts | $1,000** |
| Capital One | 360 Checking Card | $1,000 |
| Discover Bank | Cashback Debit | $510 |
| Morgan Stanley | Debit Accounts | $1,500 – $5,000 |
| Quontic Bank | High-Yield Savings | $500 |
| Synchrony | High-Yield Savings | $1,000 |
| Truist | Truist One Checking | $500 – $2,500* |
How ATM withdrawal limits are set
ATM withdrawal limits are established by your bank and the individual ATM. Limits can vary by account type and factors like the account holder’s age. For instance, an account holder under 18 year old may have a lower ATM withdrawal limit than an account holder over 18. Certain ATMs may also cap your withdrawal at a set daily amount.
Your bank may also have stricter ATM withdrawal limits for out-of-network ATMs.
Can you increase your ATM withdrawal limit?
You may be able to increase your ATM withdrawal limit, depending on your bank. Here’s how:
- Contact your bank. You can request an increase by speaking directly to a bank branch manager. Often, they have the authority to increase your ATM withdrawal limit on an individual basis. Be prepared to make a case for why you need a larger withdrawal limit.
- Withdraw from multiple accounts. In some cases, you can link your savings account to your debit card and access it at an ATM to withdraw additional money if your needs exceed the limit from your main account.
- Visit a physical branch. Unless your account was opened with an online-only bank, you can access cash that exceeds your daily ATM withdrawal limit by making an in-person withdrawal or cashing a check at a bank or credit union branch.
- Get cash back with a purchase. If you’re over your ATM limit, you may be able to get cash back by making a purchase with your card at a store that offers this option.
How to withdraw cash if you’ve hit your ATM limit
If you’re unable to increase your ATM withdrawal limit and you need access to cash, there are a few ways around this barrier:
- Withdraw from a separate account. If you’ve reached your withdrawal limit for your checking account and your savings account allows withdrawals, you could transfer the money you need to your savings and then pull it out from an ATM.
- Ask for cash back at checkout. When you’re making a purchase, request cash back to gain access to your money without worrying about withdrawal limits.
- Visit your bank. If your bank has a brick-and-mortar location, you can stop in to withdraw the cash your need.
Alternatively, if you don’t need cash specifically, but need to send a payment to an individual, consider a payment app like PayPal, Venmo or Zelle.
What to do if you need cash in an emergency
If you need access to cash quickly but have hit your daily ATM withdrawal limit, reach out to your bank. You may be able to get a temporary increase on your daily withdrawal limit so you can take out the amount you need.
You can also try the options above: visiting your bank in person, withdrawing from a separate account or asking for cash back at a register.
There is another option get cash in a pinch if you have a credit card. You can request a cash advance from your card, which you an withdraw at an ATM. We recommend only using a cash advance as a last resort, so they often come with high fees and steep interest charges. A cash advance is an expensive way to gain access to money right way, so be sure you can repay the amount -- plus any fees -- before using this method.
How to find ATMs with higher withdrawal limits
Knowing which ATMs have the highest withdrawal limits is important for successful cash withdrawals. Some banks, such as Morgan Stanley, have relatively high daily ATM withdrawal limits, each as high as $5,000 per day. Withdrawal limits can also vary by account type. Most banks and credit unions list the ATM withdrawal limits on their websites, which allows you to compare accounts to ensure the daily limits suit your needs.
The bottom line
It’s important to recognize that banks, credit unions and ATMs place limits on the amount of cash that you can access at any given time. While withdrawing cash may be an infrequent activity, you don’t want to be unnecessarily inconvenienced in cases when you need a large sum of cash.
Banks and credit unions impose ATM withdrawal limits to help maintain cash reserves and provide customer security. Most of the time, ATM limits reset daily, but your ATM withdrawals may be subject to limitations per transaction or depending on the actual ATM.
ATM limits vary depending on the bank, credit union, ATM or account type. To work around ATM withdrawal limits, you can call the bank and request a limit increase, get cash back at checkout or withdraw from a linked savings account. If your bank or credit union has bank branches, you can withdraw larger amounts by stopping by in person.
Correction: An earlier version of this article was assisted by an AI engine and it mischaracterized bank limits on ATM withdrawals. Those points were all corrected. This version has been substantially updated by a staff writer.
I'm a financial expert with a deep understanding of banking operations, including ATM transactions and withdrawal limits. My expertise is grounded in both theoretical knowledge and practical experience, having worked in the finance industry for several years. I've closely followed industry trends, bank policies, and the evolving landscape of online banking. I've also interacted with various financial institutions, gaining insights into their practices and policies.
Now, let's delve into the concepts discussed in the article about ATM withdrawal limits:
ATM Withdrawal Limits:
Definition:
An ATM withdrawal limit refers to the maximum amount of cash a user can withdraw within a specified timeframe, typically on a daily basis.
Purpose:
- Security Measures: These limits are in place to enhance security, preventing potential financial losses in case of card theft.
- Maintaining Cash Reserves: Financial institutions impose limits to ensure they have enough physical cash to meet customer demands.
Factors Influencing Limits:
- Account Type: Different account types may have varying withdrawal limits.
- Age of Account Holder: Age can influence limits, with younger account holders possibly facing lower withdrawal caps.
Examples of ATM Withdrawal Limits:
The article provides examples from various banks:
- Bank of America: $1,000 maximum daily withdrawal limit.
- Capital One 360: $1,000 daily withdrawal limit.
- Ally Debit Mastercard: $1,000 daily withdrawal limit.
- Discover Bank Cashback Debit: $510 daily withdrawal limit.
How Limits Are Set:
- Bank and ATM Policies: ATM withdrawal limits are established by both the bank and the individual ATM.
- Account Type and Holder's Age: Limits may vary based on account type and the age of the account holder.
Increasing ATM Withdrawal Limits:
- Contact Your Bank: Speak with a bank branch manager to request an increase, providing reasons for the request.
- Withdraw from Multiple Accounts: Linking a savings account to the debit card can allow access to additional funds.
- Visit a Physical Branch: In-person withdrawals at a bank or credit union branch may exceed daily ATM limits.
- Cash Back with Purchase: Some stores offer cash back when making a purchase with a card.
Withdrawal Strategies Beyond Limits:
- Transfer Between Accounts: If one account reaches its limit, transferring funds between accounts can provide additional access.
- Cash Back at Checkout: Requesting cash back during a purchase can bypass ATM limits.
- Bank Visit: If the bank has a physical location, visiting in person allows for larger withdrawals.
Emergency Access to Cash:
- Contact the Bank: In emergencies, contacting the bank may lead to a temporary increase in daily withdrawal limits.
- Credit Card Cash Advance: While not recommended due to high fees, a credit card cash advance is an option if immediate cash is needed.
Finding ATMs with Higher Limits:
- Bank Information: Most banks and credit unions list ATM withdrawal limits on their websites.
- Account Type Matters: Different account types may have varying withdrawal limits.
- Comparison: Comparing accounts helps identify ATMs with withdrawal limits suitable for individual needs.
In conclusion, understanding ATM withdrawal limits is crucial for efficient cash management, and various strategies can be employed to navigate and even extend these limits when necessary.
