Daily ATM Withdrawal Limits at Popular Banks and How to Avoid Them

When taking out cash at an ATM, you’ll need to make sure you don’t exceed the daily ATM withdrawal limit set by your financial institution. These limits vary depending on which bank or credit union you use, and they affect how much cash you can withdraw from an ATM on any one day. Here’s what you need to know about withdrawal limits, including how they work and how to avoid them.

What are daily ATM withdrawal limits?

Your daily ATM withdrawal limit is the maximum amount of money you can take out from an ATM per day. The limits are set by your bank and are usually between $500 and $2,500, though they can be higher or lower in some cases.

ATM withdrawal limits can vary by your account type. For example, a basic checking account may have a lower withdrawal limit than a premium checking account at the same bank. To find your daily withdrawal limit, check your bank’s website, review your account agreement or contact customer service.

ATMs may set per-transaction withdrawal limits. For example, let’s say you need $1,000 in cash to buy a secondhand couch. Your bank has a $1,000 daily withdrawal limit, but the ATM you use has a $500 per transaction cap. This means you’ll need to make two withdrawals of $500 versus one withdrawal of $1,000 to get the cash you need.

What is the purpose of daily ATM withdrawal limits?

While ATM withdrawal limits can be inconvenient, they are designed to protect you and your bank from fraudulent activity. Capping your daily withdrawal helps limit losses if a thief steals your debit card and tries to drain your bank account. Additionally, setting limits helps banks manage cash reserves and ensure ATMs don’t run out of money.

Note that ATM withdrawal limits are separate from debit card purchase limits. While withdrawal limits restrict how much money you can pull out from an ATM, purchase limits restrict how much you can spend using your debit card. Purchase limits vary by bank and account type as well as by the available balance in your account.

How to avoid ATM withdrawal limits

One of the best ways to avoid daily cash withdrawal limits is to split up your withdrawals over a few days. Let’s say it’s Wednesday, and you want to buy a used car on Friday for $3,000 in cash. Because your bank allows you to withdraw only $1,000 per day from ATMs, you can make withdrawals on Wednesday, Thursday and Friday to have the $3,000 you need by Friday.

Alternatively, you can visit your bank in person and explain your situation to a teller, or simply take out the money you need at the branch. Withdrawal limits are generally higher in person than they are at an ATM. You can also consider switching to a bank with a higher limit, especially if you regularly need to withdraw large amounts of cash.

Examples of ATM withdrawal limits at banks and credit unions

What to do if you’ve reached your daily withdrawal limit

If you’ve met your daily withdrawal limit but still need cash, here are a few options:

• Get cash back at a store. Once you’ve met your ATM withdrawal limit, you may still be able to get cash back at stores. This will count toward your bank’s point-of-sale daily limit, which may be higher than your ATM limit.
• Visit a branch. You may have better luck withdrawing a large amount of cash if you withdraw it the old-fashioned way — in person, with the teller.
• Use a peer-to-peer (P2P) payment platform. Instead of taking out a bunch of cash from an ATM, you may be able to transfer the money instead using a platform such as Zelle or Venmo. Keep in mind that these P2P payment apps have transfer limits. For example, Zelle has a $500 weekly send limit if your bank or credit union does not yet offer the service. If you can use Zelle through your bank or credit union, limits will vary.
• Consider alternative ways to get cash. If you need cash fast, some options include borrowing money from a friend or family member or taking a cash advance from your credit card. However, you should only consider this as a last resort because cash advances typically come with high interest rates and fees.

Can you increase your daily withdrawal limit?

It’s possible to boost your ATM daily withdrawal limit by contacting your bank to request a limit increase. Some banks allow you to do this through your online banking portal or mobile app.

Approval for a limit increase will depend on various factors, including your banking history and your reason for the increase. Banks may offer a temporary increase — for example, to accommodate a large purchase — or a permanent limit adjustment.