The main ways to take money out
You can withdraw cash from your bank account at an ATM, at a teller window inside your bank branch, or through a debit card purchase that includes cash back at a store. Each method works differently and has different limits, fees, and timing.
ATMs are the fastest and most available option — you insert your debit card, enter your PIN, and receive cash immediately. Teller withdrawals at your bank branch let you withdraw larger amounts and ask questions in person. Cash back at a store is free when you make a purchase, but you can only get what the store allows, usually $20 to $100.
The method you choose depends on how much you need, when you need it, and whether you want to pay a fee. Some withdrawals are free; others cost $1 to $3 per transaction.
Key Takeaways
- ATM withdrawals are instant but may charge a fee if you use a machine outside your bank's network, typically $1 to $3 per transaction.
- Teller withdrawals at your bank branch are free and let you withdraw large amounts, but you must visit during business hours.
- Cash back at checkout is free when you make a purchase and requires no PIN, but stores limit how much you can withdraw.
- Daily withdrawal limits vary by bank and account type, usually between $300 and $1,000 at ATMs and higher at teller windows.
- Withdrawals from savings accounts may be limited to six per month under federal rules, though this rule was suspended during the pandemic and has not been fully reinstated.
ATM withdrawals and out-of-network fees
When you use an ATM owned by your bank, the withdrawal is free and the cash appears in your account immediately. Your bank's ATM network is listed on your bank's website or in your account app.
If you use an ATM from a different bank or an independent ATM operator, you will usually pay a fee. The fee comes from your account and is charged by the ATM operator, not your bank — though your bank may also charge you a separate fee. Combined, out-of-network ATM fees typically range from $1 to $3 per withdrawal. Some banks charge no fee; others charge $2 or more. Check your bank's fee schedule to know what you will pay.
To avoid fees, use your bank's ATM network or ask your bank whether it belongs to a shared network like Allpoint, MoneyPass, or CO-OP that lets you use other banks' ATMs for free. Many online banks and credit unions participate in these networks.
Teller withdrawals at your bank branch
Walking into your bank and withdrawing cash at a teller window is free, regardless of the amount. You bring your debit card or account number, tell the teller how much you want, and receive cash. The transaction is instant.
Teller withdrawals are useful when you need a large amount of cash — more than your ATM daily limit allows — or when you want to withdraw a specific combination of bills. You can also ask the teller questions about your account or request a cashier's check at the same time.
The downside is that you must visit during branch hours, which are typically Monday through Friday 9 a.m. to 5 p.m., with limited Saturday hours. If your bank has few branches near you, this method may not be practical.
Cash back at the store checkout
When you make a debit card purchase at a grocery store, pharmacy, or other retailer, you can ask for cash back. The store adds the cash amount to your purchase total, charges your debit card for both, and gives you the cash. There is no fee to you.
Cash back is convenient because you get money while shopping and do not need to visit an ATM or bank. However, stores limit how much you can withdraw — typically $20 to $100 depending on the store's policy. Some stores allow more if you ask the manager.
Cash back counts toward your daily ATM withdrawal limit at some banks but not others. Check your bank's rules before relying on this method to reach a large amount.
Daily withdrawal limits and how they work
Most banks set a daily ATM withdrawal limit, usually between $300 and $1,000. This limit resets at midnight each day and applies to all ATM withdrawals you make in a 24-hour period, including out-of-network machines.
Teller withdrawals at your bank branch are usually not subject to the same daily limit — you can withdraw larger amounts in person. If you need more than your ATM limit allows, visit a branch or call your bank to request a temporary increase.
Your bank sets these limits to protect your account from fraud. If your debit card is stolen, a thief can only withdraw up to your daily limit before the limit resets. You can request a higher or lower limit by calling your bank or using your account app.
Withdrawal limits on savings accounts
Federal rules once limited withdrawals from savings accounts to six per month. This rule was suspended in 2020 and has not been fully reinstated, though some banks have brought back limits or charge fees for excess withdrawals.
Check your bank's current policy on your account agreement or by calling customer service. If your bank does limit savings withdrawals, the limit usually applies to transfers and teller withdrawals but not to ATM withdrawals or cash back at stores.
If you regularly need to withdraw money from savings, consider moving it to a checking account instead, which typically has no withdrawal limits.
What happens when you exceed your limit
If you try to withdraw more than your daily limit allows, the ATM will decline the transaction and return your card. You will not be charged a fee for the declined withdrawal.
If you try to withdraw more cash than you have in your account, the transaction will also be declined. However, if you overdraw your account through other means — such as a debit card purchase or check — you may be charged an overdraft fee, typically $25 to $35 per transaction.
To avoid this, check your account balance before withdrawing. You can view your balance at an ATM, through your bank's app or website, or by calling customer service.
Frequently Asked Questions
Can I withdraw money from my savings account at an ATM?
Yes, if your savings account has a debit card or ATM card linked to it. Some banks issue separate ATM cards for savings accounts; others link your savings to the same card as your checking account. Check with your bank about which card accesses which account.
What should I do if an ATM keeps my card?
Call your bank immediately. Most ATMs that retain cards do so for security reasons — usually after three incorrect PIN attempts. Your bank can retrieve the card or issue a replacement within one to two business days. In the meantime, you can withdraw cash at a teller window or use a different ATM.
Do I pay taxes on money I withdraw from my own account?
No. Withdrawing your own money from your account is not a taxable event. Taxes apply only to interest earned on the account or to income deposited into it. Withdrawals are simply moving money you already own.
Can someone else withdraw money from my account?
Only if they have authorized access — meaning you added them as a joint owner or authorized user, or you gave them your debit card and PIN. If someone withdraws money without your permission, report it to your bank immediately as fraud or theft.
How long does it take to withdraw money from an online bank?
ATM withdrawals are instant if the online bank has an ATM network or partners with one. If you need to withdraw by transferring money to another account first, that transfer typically takes one to three business days. Some online banks mail checks, which takes five to seven business days.