How much cash can I withdraw from an ATM: a complete guide

Daily limits are important when you need to withdraw cash from an ATM. These limits let you know what cash withdrawals you can make using a credit or debit card each day. The type of card and whether you’re at home or abroad are key factors in what size of cash withdrawal limits will be in force. Find out how to obtain cash from an ATM without any problems. 

Understanding daily ATM withdrawal limits for cash withdrawals

A daily cash limit shows you how much you can take from ATM cash machines using a debit card or credit card. Banks and card issuers set these limits, so they apply to your cards no matter what ATM you use. 

Having said that, the amount you can withdraw depends on different factors. It also matters which country you travel to and use your card in. If you use it with different currencies in Europe, it adds an extra issue to consider, as the transaction fees and limits are likely to change.

Your account type and card type determine your limits for cash withdrawals. The banking policies used by the card provider are designed to let users withdraw cash conveniently and safely. The amounts used have been put in place to enhance security and aid fraud prevention.   

Standard vs. premium banking withdrawal limits

The limits for cash withdrawals vary by account type. A standard debit card is likely to have the lowest limits for these cash transactions at self-service machines. Business banking customers may need higher limits to allow them to withdraw money regularly.

Premium banking customers holding gold or platinum accounts generally have enhanced account features. These may include higher limits for cash withdrawals, or they may have the option of asking for increased limits if necessary.

While each debit and credit card provider sets their own limits and transaction fees, it’s worth considering some examples of how this works. Let’s say that a basic account holder can make cash withdrawals for between 300 euros and 500 euros each day, which is a reasonable figure for most people. 

The boosted limit on premium platinum accounts or a business account may allow the user to withdraw cash of 1,000 euros or more. This gives more flexibility when using self-service machines and provides an alternative to in-store card purchases. 

Any clients identified by the bank as high-net-worth clients or VIPs might be offered higher limits at cash machines as part of their tailored banking services.

ATM withdrawal limits with major UK banks as an example

The bank issuing your debit card is the main factor that decides the limits for your daily cash withdrawals. For instance, let’s take a look at the limits offered by some of the UK banks. The following list gives you the numbers from leading British banks at the time of writing, but you should always check the official sources for the latest numbers.

• NatWest – £250 (Student, Graduate and Savings Accounts). £300 (Reward, Silver, or Platinum Accounts. Foundation, Select). £750 (Black Account). 

• Barclays – £300 (personal current accounts). £1,000 (Premier). £750 (Business). £50 (Youth accounts).

• Lloyds –  £500.

• RBS – £250 (Student, Graduate and Savings). £300 (Reward, Silver, Platinum). £750 (Black). 

• Nationwide – £500 (All accounts except FlexOne)

• HSBC – £300 (Basic). £500 (Advance). £1,000 (Premier and Private Banking).  

Non-sterling transactions carried out in other countries have different limits. You should check the details of limits and a foreign exchange fee before traveling abroad with your debit card.

How to increase your withdrawal limit

The limit for cash machines may be increased in some cases. This is something you could consider for an emergency or when you’re going to travel. Or you may simply be planning a large purchase or other cash transactions. 

Temporary or permanent increases to your cash withdrawal limits need to be approved by your bank. You might be able to increase the limits for ATM transactions and card purchases online, or you may have to phone them to get this done. Inside Genome, however, you can change the withdrawal limits online with no confirmation necessary.

You’ll possibly be asked to provide some documents or other type of justification for the increase to the daily cash limit on your debit card. Maybe you’ve increased the size of your business.  Or are you carrying out a lot of money orders and wire transfers that you’d prefer to handle with cash transactions? 

Be aware of any fees or high interest rates applied when using a credit card to withdraw cash. Your available credit limit may be higher than the limit on a debit card, but the fees tend to be higher, particularly if you withdraw foreign currency.

Tips for secure and efficient withdrawals from cash machines

ATMs have been around since the 1960s, meaning that most people now have a good understanding of how to make cash transactions using a debit card. When withdrawing from cash machines, there are some basic tips to increase your security. 

The first step is to choose ATM cash machines in well-lit areas and inside recognizable bank branches. Shield your PIN from the view of others and make sure that the ATM hasn’t been tampered with.

Check your balance regularly to ensure that you monitor all your transactions and quickly spot anything that could be potential fraud. Keeping your receipts from cash machines or maintaining digital records of your cash transactions is a smart way to track your financial activity. 

Managing your money beyond the ATM

Withdrawals from cash machines provide a fast, efficient way to deal with your money. However, the cash withdrawals limits might stop you from carrying out all your transactions in this way. Consider the following options, particularly for larger or recurring cash transactions.   

Bank transfers and batch transfers can be quicker than cash transactions at ATMs, with low transaction fees. Genome is a secure online financial platform that you can trust for a range of services like this, thanks to its license from the Bank of Lithuania. 

With Genome, you get a service that’s helpful if your current daily cash withdrawal limit is too low or if you need access to more transaction types.

A dedicated IBAN makes it easy to send and receive SEPA transfers throughout. With fast international transfers and excellent currency exchange rates, you don’t need to worry about your cash withdrawals limit at ATMs when moving money abroad. 

In addition, Visa Business cards with flexible limits let you decide when it suits you to use cash machines with low transaction fees. All the card management for Genome’s physical and virtual Visa cards is carried out online, including withdrawal limit and security settings. Our cards can be used for in-store, online, and contactless payments. You can link your card to Genome’s multi-currency accounts in EUR, USD, GBP, PLN, CHF, CZK, HUF, or SEK.

You should also look at your limits for card purchases and money transfers to see if the card still meets your needs.   

Don’t be restricted by a daily cash withdrawal limit

The daily cash withdrawal limit on your cash card can be easily checked online or by contacting the provider. Compare your current limits to what you could receive elsewhere, together with the transaction fees. You can then safely manage ATM transactions using a cash card that’s right for your needs.

As your business grows or your needs change, you may decide that you need to update or increase the limits when using your debit or credit card in cash machines. It is a good idea, but be aware of any changes to transaction fees or other banking conditions that may affect you. 

FAQs

Can I withdraw cash abroad using my usual daily limit?

A bank card should allow you to withdraw money abroad without any issues. The limits and transaction fees may change when you use it in other countries, though, so you should check the terms before leaving your home country.

Do different types of bank cards have different ATM limits?

Yes, each bank decides which limits are applied to each of their cards. In addition, they may apply different limits to the payment cards linked to their various accounts. To avoid making this a complicated article, you may need to contact your bank for an exact answer.

Will using an ATM not operated by my bank affect my limit?

Most ATMs will accept cards from other banks. However, you might find that you have a higher withdrawal limit and lower transaction fees when using your own bank’s machines. For non-sterling transactions, you should check the limits for withdrawing cash abroad if you prefer that to buying foreign currency.

Are there extra fees for withdrawing larger amounts in one transaction?

Many ATM transactions are free of charge. If you’re charged any transaction fees for using your card at cash machines in this way, it’s likely to be a percentage of the total amount withdrawn. An upper limit in place generally keeps large transactions affordable.

How often can my bank change my withdrawal limit without notice?

Any reputable bank needs to inform you if they plan to change any of their conditions, including the limits in place for using a debit or credit card at cash machines. They’re obliged to let you know in advance of any changes.

Does my credit score impact my ATM withdrawal limit?

No, the limit you can withdraw from cash machines is determined by the bank you use and the type of account you have. Your credit score may affect the banks that let you open an account and the type of account you can choose.