ATM limits are a reality for all bank customers. Not only do they exist, but debit purchase limits also exist. Basically, a daily ATM withdrawal limit is the maximum amount of money you can take out from an ATM for that day. A daily purchase limit is the most that you can spend allowed by your bank. Continue reading to see how these two things work.
Is There a Daily Limit on ATM Withdrawals?
Banks will set a daily limit on ATM withdrawals to ensure they have enough cash on hand to serve there customers. These also serve as a form of security measure. If a stolen ATM and PIN are used to access an account, there is a limit on how much can be taken out.
ATM cash withdrawal limits generally range from $500 to $3,000 depending on the bank and account type, while daily purchase limits can range from $400 to $25,000.
Average Limit of Daily ATM Transaction and Debit Purchases
| Bank | ATM Withdrawal Limit | Debit Purchase Limit |
| Bank of America | $1,000 | $10,000 |
| BB&T | $500 | $3,000 |
| Capital One | $1,000 | $5,000 |
| Chase | Varies by account | Varies by account |
| Citibank | $1,000 or $2,000 depending on account | $5,000 or $10,000 depending on account |
| U.S. Bank | Varies by account | Varies by account |
| Citizens | $500 or $1,000 depending on account | Varies by account |
| Huntington | $400 | $400 |
| Regions | $808 | $5,000 |
Also, bank ATM limits will take into account your account history, the type of transaction you make and the account you hold.
How To Increase ATM Withdrawal and Debit Purchase Limits
If you need a one-time waiver to make a big purchase or ongoing higher withdrawal and purchase limits, you will need to reach out to your bank. Do this by:
- Calling your bank
- Visiting your local branch
- Using the bank app or online account
You may also want to see if you’re eligible for an account that automatically offers higher purchase and ATM cash withdrawal limits.
Ways To Get Cash if You’ve Reached Your Limits
Generally the withdrawal limit is so high that it should meet most people’s needs. However, if you need more cash, there are ways to bypass the ATM max withdrawal limit.
Cash Back
This is probably the easiest and most accessible way to get cash from your checking account if you’ve hit your bank ATM withdrawal limit. You can generally rely on big-name chains such as Walgreens or CVS for this option.
Although cash back is a fairly common option for retailers, be sure to check whether the store of your choice offers it.
Use a Credit Card for a Cash Advance
Head to a bank or an ATM to get yourself a cash advance or by using cash advance convenience checks. This is not a way of getting unlimited funds because financial institutions set a limit on credit card cash advances. Also, cash advances tend to come with fees that make the advances more expensive than they are worth.
Savings Account Withdrawal
Naturally, if you really need money, you can always dip in to your savings account. You can do this up to six times a month, even if the account isn’t connected to your ATM card. Simply fill out the withdrawal slip and bring it into your local bank to take out money. You will need your ID to do this.
Cash a Check
Cashing a check is an easy way to get money from your checking account. Make the check out to “Cash,” sign the back and present it to the teller. You’ll have to show ID and have enough funds available to cover the check.
Withdraw Cash at a Branch
You can also withdraw additional cash by visiting your bank branch. A teller can assist you with withdrawing cash if you need more than the ATM withdrawal limit allows.
Increase Your Withdrawal Limit
Requesting that your withdrawal limit be increased is yet another easy way to get more money out of an ATM. Some banks and financial institutions are willing to increase your ATM and purchase limits based on your account’s standing with the establishment.
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Bottom Line
For those of you who have a bank account and want to withdraw money from your account or use your debit card more efficiently, this is the guide for you.
Contrary to what most people think, you actually can’t withdraw an endless amount of money from an ATM because there are limits placed on their by the bank to ensure they have enough money to serve their customers. Also, you can’t simply buy anything you want on your debit card because of the purchase limit.
However, there are plenty of workarounds for these limits. For more post like this, check out our list of bank guides!
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