What are ATM withdrawal limits?
Withdrawing money from an ATM on Cash App may be less common in digital banking, but it’s still a convenient way to access cash when you need it from your checking, savings, or money market account. ATMs come in handy if your bank is closed, you don’t live near a branch or you use an online-only bank and need to get your hands on physical money.
But do you know the limits your bank or credit union places on how much cash you can withdraw from an ATM on Cash App? Some automated teller machines limit your transactions by day or month. These limits vary by bank, and even if you’re primarily a cashless consumer, knowing your daily withdrawal limits may be useful.
What are ATM withdrawal limits?
Cash App 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. This is for security purposes and to maintain enough cash to service customers at any time. ATM withdrawal limits on Cash App 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.
Can you increase your ATM withdrawal limit?
You may be able to increase your Cash App 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. Branch managers often 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.
- Adjust your ATM limits. Some banks, such as Bank of America, allow you to customize your ATM withdrawal limit through the online banking platform or mobile app.
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 multiple accounts. In some cases, you can link your savings account to your debit card and withdraw additional money from it if your needs exceed the limit from your main account.
- Visit a physical branch. Unless your account is 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 local branch.
- Get cash back with a purchase. If you’re over your ATM limit, you may be able to get cashback by making a purchase with your card at a store that offers this option.
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.
You can also request a cash advance from your credit card, which you can withdraw at an ATM. We recommend only using a cash advance as a last resort because they often come with high fees and steep interest charges. A cash advance is an expensive way to gain access to money right away, so be sure you can promptly repay the amount plus any fees before using this method.
How to find ATMs with higher withdrawal limits on Cash App?
Some banks, such as Morgan Stanley, have relatively high daily ATM withdrawal limits of up to $5,000 a 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.
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