The basic ways to get your money out

You can withdraw money from a savings account in four main ways: at an ATM using your debit card, at a bank branch in person, by transfer to a checking account, or by requesting a check. The fastest is usually the ATM — the money is yours immediately. A bank branch withdrawal takes minutes if you have your ID. A transfer to checking takes one to three business days depending on your bank. A check takes as long as the person you give it to needs to deposit it.

Which method works best depends on how much you need, how soon you need it, and whether you want the cash in hand or in another account. Some banks charge fees for certain withdrawals or for exceeding a withdrawal limit in a month, so it's worth checking your account terms before you move large amounts.

Key Takeaways

  • ATM withdrawals give you cash immediately and are free at your bank's machines, but daily limits usually cap withdrawals at $500 to $1,000.
  • Withdrawing at a bank branch in person has no daily limit and takes minutes, but requires you to visit during business hours with your ID.
  • Transferring money to a checking account takes one to three business days and works for any amount, but you need access to online banking or a phone line to your bank.
  • Some savings accounts limit you to six withdrawals per month before charging a fee, so check your account agreement if you plan frequent withdrawals.
  • If your account is frozen or restricted, the bank will tell you why when you try to withdraw, and you may need to resolve the issue before accessing your money.

ATM withdrawals and daily limits

An ATM withdrawal is the fastest way to get cash. You insert your debit card, enter your PIN, and the money comes out. Most banks do not charge a fee when you use an ATM owned by your bank. If you use an ATM from a different bank, that bank usually charges $2 to $3, and sometimes your own bank charges a fee too.

Nearly all banks set a daily ATM withdrawal limit, typically between $500 and $1,000. This limit resets at midnight or at a set time each day. If you need more than your daily limit, you can withdraw again the next day, or you can go to a branch and withdraw in person instead. Some banks let you raise your daily limit by calling customer service or through your online banking account, though this takes time to process.

ATM withdrawals do not count against the six-withdrawal limit that some savings accounts enforce. That limit applies only to certain types of transfers and withdrawals, not to ATM cash withdrawals.

Withdrawing at a bank branch in person

Walking into a bank branch and asking to withdraw money is straightforward and has no daily limit. Bring a photo ID — a driver's license, passport, or state ID card. Tell the teller how much you want and whether you want cash or a check. If you want cash, they will count it out and hand it to you. The whole process takes five to ten minutes.

Branch withdrawals are free and do not count against any monthly withdrawal limits. You can withdraw any amount your account holds. The only catch is that you have to go during business hours — most branches close by 5 or 6 p.m. on weekdays and are closed on Sundays. Some banks have Saturday hours, but not all.

If you do not have a photo ID, some banks will let a family member or authorized user on the account withdraw money on your behalf. Call your bank ahead of time to ask what they need.

Transferring money to a checking account or another bank

If you have a checking account at the same bank, you can transfer money from savings to checking through online banking, a mobile app, or by phone. The transfer usually shows up in your checking account within one business day, sometimes the same day. Once the money is in checking, you can write a check, use a debit card, or withdraw it at an ATM.

You can also transfer money to a savings account at a different bank, though this takes longer — usually one to three business days. You will need the receiving bank's routing number and your account number there. Most banks let you set up this transfer online or by calling. Some banks charge a small fee for outgoing transfers to other institutions, so check your account terms.

Transfers to other banks do count against the six-withdrawal limit on some savings accounts. Check your account agreement or call your bank to confirm whether transfers count toward that limit.

Withdrawal limits and monthly restrictions

Federal rules used to cap savings account withdrawals at six per month, but that rule changed in 2020. Now banks set their own limits. Some banks still enforce a six-withdrawal cap and charge a fee if you exceed it — usually $10 to $25 per extra withdrawal. Other banks have no limit at all. A few banks limit only certain types of withdrawals, like transfers and checks, but not ATM cash withdrawals.

The limit resets on a calendar month or on a rolling 30-day basis, depending on the bank. Check your account agreement or call customer service to find out what your bank's policy is. If you know you will need to withdraw money frequently, ask whether your bank offers accounts with no withdrawal limits, or whether you can switch to a checking account instead.

ATM withdrawals and in-person branch withdrawals almost never count toward these limits. The limits usually apply only to transfers and checks.

What to do if you cannot withdraw your money

If you try to withdraw money and the bank refuses, the most common reason is that your account is frozen or restricted. This happens when the bank suspects fraud, when you have unpaid overdraft fees, when there is a legal hold on the account, or when you have not verified your identity. The bank should tell you the reason when you ask.

If the freeze is due to fraud, the bank will investigate and lift the freeze once they confirm the transactions were not yours. If it is due to unpaid fees, you will need to pay them before you can withdraw. If it is a legal hold — for example, from a court or the IRS — you cannot withdraw until the hold is released, which can take weeks or months. If it is an identity verification issue, the bank will tell you what documents to provide.

Call your bank's customer service line or visit a branch in person to find out why your account is restricted. Do not wait — the sooner you know the reason, the sooner you can fix it.

Requesting a check or cashier's check

If you need to send money to someone else or do not want to carry cash, you can ask your bank to write a check on your account. Go to a branch with your ID, tell the teller who the check should be made out to and for how much, and they will write it. This is free and takes a few minutes. The check is valid once you sign it, and the person who receives it can deposit it at their own bank.

A cashier's check is a check written by the bank itself, not on your personal account. It is more secure than a personal check because the bank guarantees the funds. Cashier's checks cost $5 to $15 depending on the bank. They take a little longer to write — usually 10 to 15 minutes — but they are useful when you are buying something and the seller wants proof the money is real.

Both personal checks and cashier's checks take time to clear on the receiving end. The recipient's bank usually holds the check for one to five business days before releasing the funds, depending on the amount and the bank's policy.

Frequently Asked Questions

Can I withdraw money from my savings account on weekends or holidays?

ATMs work 24/7, so you can withdraw cash any time. Bank branches are closed on weekends and federal holidays, so you cannot withdraw in person then. If you need cash on a weekend, use an ATM or plan ahead and withdraw on Friday.

What happens if I withdraw more than my daily ATM limit?

The ATM will refuse the transaction and return your card. You can try again the next day after your limit resets, or you can go to a bank branch during business hours and withdraw any amount in person with your ID.

Do I get charged for transferring money between my own accounts?

Transfers between your own accounts at the same bank are free. Transfers to accounts at different banks may have a fee — usually $0 to $5 — depending on your bank. Check your account agreement or call customer service to confirm.

How long does it take to transfer money to another bank?

Most transfers take one to three business days. Weekends and holidays do not count as business days, so a transfer you start on Friday may not arrive until Tuesday. Some banks offer faster transfers for an extra fee, but standard transfers are free.

What if I forgot my PIN for the ATM?

Call your bank's customer service line and ask to reset your PIN. They will verify your identity and send you a new PIN by mail or email, or they may let you create a new one over the phone. This usually takes a few minutes to a few hours. In the meantime, go to a bank branch and withdraw cash in person with your ID.