ATM withdrawal limit is the limit fixed on the minimum and maximum amount of money that can be withdrawn at a specific time using an ATM. In this article, we are going to sample 25 major banks in the US and their ATM withdrawal limits. Dependent on the bank and your account type, the ATM withdrawal limit ranges from $300 to $500 daily. There are several reasons why banks set ATM withdrawal limits. Luckily, most banks allow customers to revise their withdrawal limit. To save time, below are banks with their withdrawal limits.
25 Major Banks ATM Withdrawal Limit
Below are 25 major banks with their headquarters and withdrawal limit
- Union Bank
Headquarters: 1251 Avenue of the Americas New York City.
Withdrawal Limit: $500
- BMO Harris
Headquarters: Chicago Illinois
Withdrawal Limit: $520
- US Bank
Headquarters: Minneapolis, Minnesota
Withdrawal limit: $500
- Wells Fargo Bank
Headquarters: San Fransisco, California.
Withdrawal limit: $300
- Regions
Headquarters: Birmingham, Alabama.
Withdrawal limit: $808
- TD Bank
Headquarters: Cherry Hill, New Jersey.
$750-$1000
- PNC Bank
Headquarters: Pittsburgh, Pennsylvania.
Withdrawal limit: $500-$2000
- State Street Trust & Bank Co.
Headquarters: Golden Meadow, Louisiana
Withdrawal limit: $300
- Morgan Stanley Bank
Headquarters: Midtown Manhattan, New York
Withdrawal limit: $1500-$5000
- Key Bank
Headquarters: Cleveland, Ohio.
Withdrawal limit: $300-$1500
11)Sun Trust Bank
Headquarters: Atlanta, Georgia
Withdrawal limit: $505
- Huntington
Headquarters: Columbus, Ohio.
Withdrawal limit: $400
- The Bank of New York Mellon
Headquarters: New York, New York
Withdrawal limit: $1000
- HSBC
Headquarters: New York City
Withdrawal limit: $500-$1000
- Discover Bank
Headquarters: New Castle, Delaware.
Withdrawal limit: $510
- Chase Bank
Headquarters: New York, New York
Withdrawal limit: $500-$3000
- Fifth Third Bank
Headquarters: Cincinnati, Ohio.
Withdrawal limit: $810
- Citizens Bank
Headquarters: Providence, Rhode Island.
Withdrawal limit: $500-$1000
- Citi Bank
Headquarters: New York, New York.
Withdrawal limit: $1000-$2000
- Charles Schwab Bank
Headquarters: Westlake, Texas.
Withdrawal limit: $1000
- Ally Bank
Headquarters: Sandy, Utah
Withdrawal limit:$1000
- Bank of America
Headquarters: Charlotte, North Carolina.
Withdrawal limit: $1000
- BB&T
Headquarters: Charlotte, North Carolina.
Withdrawal limit: $500-$1500
- Capital One
Headquarters: McLean, Virginia.
Withdrawal limit: $600-$1000
- American Express
Headquarters: New York, New York.
Withdrawal limit: $3000
Reasons For ATM Withdrawal Limit
Below are why limits are set for withdrawal
• Cash flow
Banks set withdrawal limits on ATMs so that cash will go around among users. If limits were not set, someone might withdraw almost all the cash in the ATM.
• Security
Imagine misplacing your ATM card, the person that gets hold of it will use the numbers on it to get to know your pin and will withdraw money from your account. What if limits were not set, then it would have been worst.
• Money management
Banks set ATM withdrawal limits so that they will be able to manage the little or much money they have left.
Highest Daily Withdrawal Limit
Withdrawal limits depend on your account type and your banking history. For instance, someone who has an account for 12 years gets a higher withdrawal limit than someone who has an account for 5 years. Generally, daily withdrawal limits can range between $300 to $5000 and daily purchase limits can range from $400 to $25000.
How to Increase Withdrawal Limit
Below are two ways to increase your withdrawal limit
• Account Upgrade
If you want your limits to be increased, one of the things to do is to upgrade your account. But this comes with some requirements.
• Credit Card
Credit cards have several features like; increase purchasing power, cash back, cash advance, and more.
When using it for a cash advance, you need to be cautious because it comes with high fees attached.
Conclusion.
In case you needed a bank to open a new account, then you can wisely choose any of the banks listed in the article. By visiting. Major banks in the United States listed above have different ATM withdrawal limits and also, they have reasons why they put limits on withdrawal, it might be for security or cash flow and maybe for different reasons. The bank with the highest limit is chase bank, while the bank with the lowest limit is Wells Fargo Bank.
- What other ways Can ATM withdrawal limits be increased?
Call your bank requesting that your limits be raised.
- How can I get more money if I have reached my limit?
You can simply visit your bank branch and you can also use your bank mobile app.
- Can a customer have accounts with many banks?
Yes, you can. But it is advisable to stick to one bank and at most three.
