I have a debit card and I need to get $600 in cash. Can I get this amount of money from an ATM in one day?
Sometimes there is a limit on the amount an ATM can dispense at one time. That limit is usually the result of the physical limitations of the machine, rather than account restrictions. Making two or more withdrawals gets around that kind of limitation.
There are two other limiting factors affecting your ability to get cash. The first is a security limitation on daily cash withdrawals. For example, to protect its customer's accounts and itself from fraudulent transactions, a bank might impose a $500 per day ATM cash withdrawal limit. Your bank can tell you if it has such a limit, and how much it is.
Typically, the other limiting factor is the balance available for withdrawal. If your account balance is less than $600, you won't be able to withdraw more than the balance available to you. You may have the ability to overdraw your account at an ATM if you have an overdraft line of credit, have overdraft protection in the form of transfers from another account, or have a courtesy overdraft program at your bank. Here again, you have to ask your bank whether any of those services apply in your case.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Sometimes there is a limit on the amount an ATM can dispense at one time. That limit is usually the result of the physical limitations of the machine, rather than account restrictions. Making two or more withdrawals gets around that kind of limitation.