How Much Cash Can You Withdraw From Your Bank's ATM at Once?

Your bank is allowed to limit your daily access to your money.

Your bank is allowed to limit your daily access to your money.

If you've found the perfect dress, shoes or home decor, you might be in for an unpleasant surprise if you want to hit the ATM and pay with cash. Many banks set daily withdrawal limits, and you won't be able to withdraw amounts in excess of these limits. In some cases, however, you might be able to get your bank to lift the limit.

Daily Withdrawal Limits

Each bank can establish its own daily withdrawal limit, but limits usually range from $500 to $1,000 or so. The specific limit will depend on your bank's policies and the type of account you have. Sovereign Bank, for example, has a daily cash withdrawal limit of $1,000. Your bank may also limit the number of bills you can take from the ATM at once. Bank of America, for example, won't let customers withdraw more than 40 bills at once.

Other Limits

In addition to your daily withdrawal limit, your bank might also place limitations on how much you can spend with your debit card in a 24-hour period. Spending limits are generally higher than withdrawal limits. Sovereign Bank, for example, has a daily spending limit of $4,000 for basic debit card accounts, so if you need to make a purchase, it might be better to pay with your debit card than to try and pay cash.

Finding Your Limit

To learn your limit, you'll need to review your debit card agreement or call your bank. Some banks also list daily spending limits via online banking, so log into your account and then navigate to the checking account tab. Try clicking "help" to find out your precise spending limit. If your card is declined at an ATM, it might indicate that you've hit your limit for the day.

Circumventing Limits

If you need fast access to cash, the easiest way to get it is to go into the bank branch. If you have to use an ATM, though, try calling your bank to see if you can get the limit temporarily lifted. Some banks also allow customers to apply for an increase in their daily spending limits. As a general rule, however, customers can't apply to have the limits removed altogether.


About the Author

Van Thompson is an attorney and writer. A former martial arts instructor, he holds bachelor's degrees in music and computer science from Westchester University, and a juris doctor from Georgia State University. He is the recipient of numerous writing awards, including a 2009 CALI Legal Writing Award.

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