What Are Daily ATM Withdrawal Limits and Debit Purchase Limits?

When getting money from an ATM, you are limited in the amount you can withdraw in a single day. You are also subject to limits on the amount of money you spend with your debit card each day. All banks impose these limits, both for practical and security reasons. Exact daily ATM withdrawal and debit purchase limits vary depending on your bank and the type of account you have.

Do you have questions about how banking fits into your larger financial plan? Speak with a financial advisor.

Average Daily ATM Withdrawal Limits

Daily ATM withdrawal limits range from around $300 to over $1,000 in rare circumstances. Simpler checking accounts generally have lower limits than a premium or elite checking account. Student accounts also tend to have lower limits to help students better manage their money. Keep in mind that these limits apply to checking accounts, as savings and money market accounts often have their own sets of rules.

Daily ATM withdrawal and daily debit purchase limits vary across different banks and account types. The limit may even be different depending on the specific ATM you are using. Note that some bank, like Bank of America and Chase, set limits after you open an account based on your financial history.

If you are unsure about your limits, you can always call your bank or refer to your account documents.

Why Banks Set ATM Withdrawal Limits

Many people assume that an ATM withdrawal limit is based on the amount of money in their account. In reality, banks design these limits in an effort to protect customers, manage cash availability and reduce the risk of fraud.

One reason for withdrawal limits is security. If a debit card is lost or stolen, a daily limit can restrict how much cash someone can withdraw before the card is reported missing and the account is secured. While unauthorized transactions may still be disputed, limiting the amount that can be withdrawn can reduce potential losses.

Banks also have practical reasons for setting withdrawal limits. ATMs hold only a limited amount of cash and must serve many customers between scheduled replenishments. Daily limits help ensure that cash remains available throughout the day instead of being depleted by a small number of large withdrawals.

Your withdrawal limit may also depend on your relationship with the bank. Some financial institutions set different limits based on the type of checking account you have, your account history or other factors. As a result, two customers at the same bank may have different ATM withdrawal limits.

If you know you’ll need more cash than your daily ATM limit allows, planning ahead can help. Visiting a branch during business hours or contacting your bank to request a temporary increase may provide easier access to larger withdrawals.

How Much Can You Withdraw From an ATM at One Time?

In addition to daily limits, you may encounter limits for a single withdrawal. These limits are meant to protect you in case your card and information get stolen. However, it is also meant to preserve the amount of cash in any given ATM. That way, everyone who needs physical currency has access to it.

The typical withdrawal limit for a single ATM visit is typically anywhere from $500 to $3,000. However, this depends on your bank and the ATM you use.

How to Find Out Your Bank’s Withdrawal Limits

Every bank has different rules for ATM withdrawals, so it is important to check which limits apply to your account.

There are several ways you can check your bank’s ATM withdrawal limit:

Review your account documents from when you opened the account.
Log in to the mobile app.
Check your bank’s FAQ page on its website.
Call your bank and ask.

How to Get Around Withdrawal Limits

If you need more money than your daily ATM withdrawal limits allow, there are ways to get around it. For one, the ATM limit applies only to ATM withdrawals. That means during banking hours, you can go into the bank and make withdrawals of any amount with a teller. If you need to withdraw a large amount of money, this is the best and safest way to do it.

You can also call your bank and ask to temporarily raise your limit, whether it is the ATM withdrawal or debit purchase limit. This helps when you need to make a one-time purchase that exceeds your current limit. Just be sure to ask when the increase goes into effect and how long it will last.

Another way around the ATM withdrawal limit is to choose the cash back option when you make a purchase at a store. Cash back still counts toward your daily debit purchase limit, but this is generally higher than your ATM withdrawal limit.

If none of these options work out for you, you could get a cash advance through your credit card. A cash advance allows you to withdraw cash from your credit card. You will likely want to see this as an absolute last resort, however. Unlike withdrawing from a checking account, this type of withdrawal comes with its own fees as well as steep interest rates.

How You Can Increase Your Debit Purchase Limit

It is usually not difficult to get your bank to increase your limits for a one-time situation. But what if you would like that increase to apply permanently? In that case, you can ask your bank to permanently raise your debit purchase (and/or ATM withdrawal) limit. This is done at the bank’s discretion, so it may not be as much of an increase as you would like.

Another solution is to upgrade your account to a preferred account. The daily ATM withdrawal limits for premium accounts tend to be higher than those for basic accounts. For example, Citi’s regular checking account has a $1,500 daily withdrawal limit and $5,000 daily debit card payment limit. The Citigold account has a $5,000 withdrawal limit and a $25,000 debit card limit.

Before upgrading your account, be sure the account fits your lifestyle. Premium accounts may have a higher annual fee, account balance minimum or other requirements.

Bottom Line

A woman using her debit card to make a purchase.

Every checking account has its own limits for ATM withdrawals and debit purchases. It is important to be aware of these limits, so you do not find yourself unable to make a purchase or withdrawal when you really need it. If your account limits are too restrictive, you can contact your bank to increase the limit either temporarily or permanently.

Tips for Responsible Banking

Consider working with a financial advisor as you arrange your personal financial affairs. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Whenever you have a checking account, you always want to be aware of the fees that come with the account. This includes monthly fees, overdraft fees, minimum balance fees and more. Knowing an account’s fees will help you better avoid unnecessary costs.
You also want to avoid overdrafts on your checking account. These happen when you make a purchase you can’t entirely cover with your checking account funds. You’ll face a fee for overdrafts, though there are some checking accounts designed to have a low overdraft fee. You also may be able to set up overdraft protection on your checking account.