If you think about it, the ATM system has to be one of the most convenient inventions of modern life. People can now get cash practically anywhere, at any time.
As convenient as ATMs and debit cards are, however, there is a limit to their ease-of-use, and it’s the very real limit of a maximum daily total of cash you can get from your debit card. This daily limit on a debit card will vary from bank to bank.
Debit card limits at the ATM
Debit cards have daily limits in the amount of cash they will give you from an ATM machine. These limits can be as low as $200 and as high as $1,000.
It doesn’t matter how much money you have in your account, either, and the limits should not be construed as a reflection on your credit worthiness. If you keep taking money out all day, and you forget about your debit card’s daily limit, you could be in for a surprise when you go to buy something.
Don’t hesitate to call your bank if this should happen, because if there’s money in your account your bank could very easily raise your daily limit on a temporary basis.
Debit card limit on purchases
There are also daily limits on debit card use when it comes to purchasing things, as opposed to taking out cash from an ATM.
If you’ve got a big shopping day planned, and you’re going to be running around a mall buying back-t0-school clothes, electronic devices, kitchenware and other merchandise, you may put the debit card down only to be declined — and again, it won’t matter how much money you have in your account.
You’ve simply gone over your debit card’s daily limit. In such a scenario it might make sense to bring your checkbook with you, or take out cash the day before as part of your planning.
To learn more about daily limits on debit cards, debit cards, ATMs, and other banking topics, be sure to consult with your bank.
