What Do I Need to Know About the ATM Withdrawal Limit?

Juliet D'cruz

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What Do I Need to Know About the ATM Withdrawal Limit?

95% of American households have a bank account making banking a nearly universal activity in the country. With bank accounts come debit cards and with debit cards come the occasional ATM withdrawal.

If you’ve ever had to withdraw money from an ATM in-bulk, chances are, you’ve run into one of the most widely criticized features of that process – The ATM withdrawal limit.

ATM withdrawal limits keep you from pulling too much money out of your account on any given day. Why do banks impose that limit on you? What do you need to know about that limit?

If you’ve got withdrawal limit questions that pertain to your checking account, keep reading because we’ve got answers!

Withdrawal Limits Are Marketed As Being for Safety

The conventional reason why ATM withdrawal limits exist is because of safety. Imagine if you were told, under duress, to pull money out of an ATM. If you could pull your whole bank account out, one evening of bad luck could ruin your life.

Other pragmatic reasons for withdrawal limits include keeping ATMs filled so others can pull out money. Also, keeping more of your money in your bank account on any given day supports bank’s ability to operate.

Limits Vary From Bank to Bank

There are no state or federal standards when it comes to an ATM withdrawal limit. Limits are set by your bank and can vary widely.

We’ve seen ATM withdrawal limits at some banks go over $1000. Other banks have limits of under $300.

As you shop banks, ask about limits if that’s important to you to make sure they offer the flexibility you need. If you can’t find the flexibility you need among local banks, consider exploring alternate cash types like crypto via sites like www.bytefederal.com. Crypto is less regulated than cash and some crypto ATMs let you buy alternate currencies and withdraw limit-free cash against your existing holdings.

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You Can Request a Higher Limit

In love with your bank but not the ATM security measure they have on your account when it comes to withdrawals? Let them know.

Some banks exercise flexibility when it comes to how much money they enable their customers to pull out of their checking accounts and will accommodate your higher withdrawal needs upon request.

Limits Are Synced Across ATMs

It’s important to note that your ATM limit isn’t ATM-specific. The blockade exists on your bank’s end.

If you expect to hop on your bank’s website, look up multiple ATMs in hopes of withdrawing your daily limit at each one, think again.

You Can Always Withdraw in Person

If you really need to get your hands on a lot of cash, the best and safest way to do that is to visit your bank. There are no withdrawal limits on your account when you pull money out over the counter.

Simply walk in, fill out a withdrawal form, and walk out with what you need.

How Will You Manage Your ATM Withdrawal Limit?

An ATM withdrawal limit may affect some people’s ability to go about their daily business. As we’ve described, there are methods to getting better ATM access or access to your money in general that you can try to circumvent this security measure.

We wish you the best of luck managing your ATM needs and welcome you to explore more purchase limit, account type, and other related content on our blog.

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