Maximize your cash by using the ATM withdrawal limit is really helpful. You only need to suit the bank account that you use. Specifically, when you save your money in your debit account, there must be a limit to withdraw your money.
If you need more than a few hundred dollars in cash— $500 it is a typical ATM withdrawal limit. Using the ATM withdrawal limit will help you to maximize the cash you can get with your debit card.
What is ATM Withdrawal Limit?
ATM withdrawal limits can range from $300 up to $2,000 a day. Some banks may have the charge in a different amount depending on which tire of service you’ve signed up for. Make sure to check your exact limit with your bank account. Withdrawal of your money from your ATM debit card may vary depending on your relationship with the bank and your bank history.
Technically, if your bank resets its limits at midnight, you can withdraw the max just before midnight as withdrawal limits reset every 24 hours. It helps you to know when your bank resets. Banks can only keep so much cash in their machines, so it is recommended to limit your withdrawals and preserve their cash on hand as well as mitigate the risk of loss, both for you and the bank itself.
However, if you need more cash than your daily limit allows, here are 3 tips that you can try:
- Request a temporary increase in your daily limit
- Use a debit card cash advance to withdraw funds
- Get a cashback with a purchase at the store
Request a Temporary Increase in your Daily Limit
If you need more extra cash, let the bank know and ask the bank to temporarily raise your ATM limit. Bank will ask you to provide your personal information (such as a driver’s license or citizen identification card) to make sure of your identity. You won’t always have what you wish for, but at least you can get to lose by asking.
Get a Cash Advance
For withdrawing more cash is to get a cash advance with your debit card. Here are the things you need to know about using cash advance:
Debit Card Advances: if you can’t visit a teller at your bank to make a withdrawal, go to a different bank can be a choice. Ask about the use of your debit card to get a cash advance. If you’re not a customer, banks typically charge a modest fee for the service, so find out the cost before you go to this route.
Credit Union Customers: If you use a credit union, many credit unions participate in shared branching, which allows you to make free withdrawals from your account using other credit union branches nationwide. Different credit unions have varied hours. Make sure the location is open when you need it, for instance, weekends or evenings.
Cash Advance Limits: It has limits for debit card cash advances at branches. Please note that any withdrawals you already made at the ATM will probably count against your daily in-branch limit.
Ask for Cash Back at the Store
Get a cashback is a bonus from your ATM debit card. By making even a tiny purchase, such as a pack of gum, get to the maximum amount possible if you need it. You can also use multiple cash-back transactions until you hit your debit card’s daily purchase limit.
Again, keep an eye on your bank account balance, in case you withdraw money that you have committed to auto-pay bills or rent payments.
