ATM Withdrawal Limits
motorhead
Fat, drunk and stupid is no way to go through life
I saw a blurb that Philip Seymour Hoffman withdrew $1200 from a supermarket ATM the night before he died with a needle in his arm. That surprised me. My bank has a $300 daily limit and my old bank had a $500 limit.
I general I won't use a credit/debit card in a strip club, but if it's a spur of the moment visit I will hit the ATM machine at my local branch. $300 is often too little.
Maybe wealthy celebs have special accounts with higher withdrawal limits but I've never heard of a bank would dispense that much cash at a time.
I general I won't use a credit/debit card in a strip club, but if it's a spur of the moment visit I will hit the ATM machine at my local branch. $300 is often too little.
Maybe wealthy celebs have special accounts with higher withdrawal limits but I've never heard of a bank would dispense that much cash at a time.
38 comments
Been have good experiences with Chase the last couple of years - might drop the credit union.
They'll typically give you a permanent increase if you request it and they think your average daily balance justifies it.
I suspect someone like Hoffman was allowed to withdrawal lots.
I see in this thread, though, that we have at least a couple of people with net worth probably at least half-million with withdrawal limits around $500. Yet jestie ain't flipping out. Strange ain't it? Guess her "logic" wasn't that airtight after all. But then again, what else is new? :-)
As usual Dugly's reading comprehension fails.
Bottom line from one that deals daily with ATMs, the limit depends completely on your relationship with the bank and up to the amount in the ATM.
Ranukam, I think most SC ATMs have low withdrawal limits so that you will need to make multiple withdrawals and thus making more $ off fees. They probably figure if youre taking $ at the SC ATM you really aint gonna think twice about that fee.
I always assumed the daily limit was a security measure, not related to the person's wealth or account balance.
What if you're robbed at the ATM? If you only have a $500 limit, it prevents the perp from stealing thousands from your account.
And I read one article that ATM machines only dispense a maximum of 40 bills. And since I've only seen 20's from an ATM, then $800 is the max.
2) It's a daily limit i.e. you can get $x out at 11:59pm and another $x out at 12:01am.
There used to be a time when ATMs were somewhat limited by software and hardware, but these days, that isn't the case. They can do about anything someone can dream up. Wait till you see somethings coming down the pike.
I’ve been thinking of trying to increase it to $1000 for those occasions when I am in PL overdrive - there’s been a few times I’ve spent more than $500 SCing in one day/night and ended up using my CC via the ATM (I do have a separate/additional savings account but it’s with an internet bank and I don’t have an ATM card for them – I usually just do free transfers over the internet b/w my internet bank and my brick and mortar bank).
That’s pretty much been the case for me – but there are two Wells Fargo banks near my home and one of them consistently gave me $50 bills especially if withdrew a significant amount like $300.
I hate getting $50s and actually emailed the bank as to why this particular branch’s ATM always gave me $50s – the answer I was given is that certain branches are in very high traffic areas and thus they dispense the higher denominations in order to be able to store enough cash in the machines and not run out – subsequently I stopped using that branch.
The Casino in Columbus has an ATM that dispensed me $100 bills when I requested a $200 withdrawal.
Most Wells have one of two setups. $20 and stamps (most of them) or $20 and $50.
Makes me wonder if some ghetto stripper in Detroit OD'd on heroin, how hard would the cops work to arrest the dealer.
Which matches my experience of ATMs in grocery stores, bars, etc having relatively low withdrawal limits. Probably more about sticking you with the non-bank fee multiple times than about deterring muggers from forcing you to empty your account at gun/knife point.
I do my banking with one of those too big to fail banks and I live in NYC. The preset withdrawal amounts go up to $1000. Once the withdrawal amount goes north of $200-300 you're almost guaranteed to get some $50 bills.
I've never tested how much I could withdrawal from an ATM in one go, because when I'm getting >$500 I usually want it in specific bills. So I take care of those withdrawals at the teller window.
Some years ago, late evening, I was driving home from Ohio and was going to get a room near my cousins home in N. Florida. I stopped at an ATM in a small town in Georgia. When I asked for a withdrawal, the ATM displayed "Enter amount up to $300 in increments of $1".
Being in the business, I thought that strange till I realized, it might fit the population of this small town. I could see some guy that might have less than $20 in the bank just before payday, but needs that beer or a smoke.
There are two ATMs in Key West on Duval Street that dispense nothing but $50 notes.
The owners of the machines tailor them to their clients. It's as simple as that.
I've never seen an ATM that gives $1 bills.
About 15 years ago, I was with my friend and she stopped by her bank in the Boston area, which was a one branch bank. She pointed out that she could withdraw as little as $5. That's the lowest denomination I've seen, and only once.
I try to avoid credit card usage at all cost, not because of privacy issues, but I find that a lot of places add a surchage, or worst, there is a lot of pressure to add a tip for the host, cashier, etc. If i'm using cash for vip, I rarely tip the host anything more than a few bucks - I expect the girls to give their tipouts and not take it feom me.