Daily ATM Withdrawal Limits: How Much Is Too Much?

Milan Markovic/GettyImages; Illustration by Hunter Newton/Bankrate

Banks set daily limits on how much cash you can withdraw from an ATM — often between $500 and $5,000 daily — so it’s important to know your bank’s limits if you’re planning to take out a significant sum.

Similarly, debit card purchase amounts typically have daily caps, although these are likely to be higher than those of ATMs. These daily limits are set up to help protect a bank’s customers in the event an ATM card becomes lost or stolen.

Here we’ll cover what various big banks’ daily limits are for ATM withdrawals or debit card purchases — as well as reasons for these limits and possible ways to work around them.

ATM withdrawal limits at big banks

At some banks, such as U.S. Bank, the daily limit for ATM withdrawals depends on the type of account and account status. Likewise, Chase Bank sets daily limits for purchases and ATM withdrawals based on the type of card and account type.

If you’re unsure of your daily ATM withdrawal limit, you typically can find it by logging into your account.

How daily ATM limits are set 

A bank may set the same default daily limits at ATM machines for all of its customers, but the amount can vary from bank to bank. 

The limit can also vary at a given bank based on the account. For instance, a bank’s  second-chance checking account may have a lower limit than its standard account.

A bank may increase a customer’s ATM withdrawal limit upon request. You can ask your bank if this is possible by calling the phone number on the back of your ATM card, visiting a branch or sending a message when logged on to your bank’s app or website.

Some individual ATMs might have their own limits on cash withdrawals that could override those set by your bank. For instance, even if your debit card has a $1,000 daily ATM withdrawal cap, you might encounter an ATM that only allows $300 worth of withdrawals, says Rose Oswald Poels, president and CEO for the Wisconsin Bankers Association.

Though not time efficient, you may be able to go to more than one ATM for a cash withdrawal in this situation.

Why are there ATM limits?

The main reason banks have ATM limits is to protect your money and the bank in case someone has both your ATM card and the PIN.

Oswald Poels says withdrawal limits are in place because ATMs contain a limited amount of cash and to help keep fraud at bay.

And while a restriction on your money might sound like an inconvenience, it’s actually a benefit: You’ll avoid walking around with a stack of cash in your pocket that makes you a prized target for theft.

How to work around daily ATM limits

Withdraw money over multiple days: Try splitting up large cash withdrawals over a few days, if you have the time. If your ATM limit is $500 each day and you need $1,000, you could withdraw $500 on two separate days.

See a bank teller at a branch: You can generally also withdraw more money than what is allowed at the ATM by making the transaction with a teller at a bank branch.

Get cash back at a store checkout: Making a debit card purchase often enables you to request cash back. Note that the store will likely have set limits on the amount you can receive per purchase, so you may need to make more than one transaction.

Consider switching banks: Switching banks might be another option if you find yourself frequently wanting more cash than is allowed from the ATM in a day. Before you do, though, call your current bank to see if there is an option to increase your ATM withdrawal limit. For example, Ally customers can call to request a one-time extended limit.

Bottom line

An ATM is convenient for withdrawing money from your bank account, as long as you don’t need more cash than the daily limit allows. In addition to knowing which machines won’t charge you ATM fees, it helps to know how much you’re allowed to withdraw at the ATM each day — and alternative ways to obtain cash, if needed.