The basic ways to take money out
You can remove money from a savings account through an ATM, a bank teller, a transfer to another account, or a debit card. The method you choose depends on how much you need, how fast you need it, and what your bank allows. Most banks let you withdraw cash at their branches during business hours, and many offer 24-hour ATM access. If you're removing a large amount or closing the account entirely, talking to a teller in person usually works best.
Some banks limit how many times per month you can withdraw from a savings account—this used to be a federal rule but is now set by individual banks. Check your account agreement or call your bank to find out what limits apply to you. If you hit the limit, you may face a fee, or the bank may deny the withdrawal until the next month.
Key Takeaways
- ATMs, bank tellers, debit cards, and transfers to checking accounts are the main ways to withdraw money from savings.
- Your bank may limit the number of withdrawals per month, and exceeding that limit can trigger a fee or denial.
- Withdrawals at your bank's branch are usually instant, while transfers to other banks take one to three business days.
- Large cash withdrawals may require advance notice to your bank so they have enough cash on hand.
- If you removed an account holder and want to prevent them from accessing funds, contact your bank to confirm the change took effect.
Withdrawing cash at an ATM or branch
An ATM is the fastest way to get cash if you need a small to medium amount. Most banks let you withdraw up to $500 to $1,000 per day at an ATM, though this limit varies by bank and account type. You'll need your debit card and PIN. If your bank is part of a network like Allpoint or MoneyPass, you can use ATMs outside your bank's branches without a fee.
At a bank branch, a teller can withdraw any amount for you, even if it exceeds your daily ATM limit. If you need more than $10,000 in cash, call ahead—banks are required to report large cash withdrawals to the federal government, and they need time to order enough cash from their vault. Bring your ID and the account number or debit card.
Transferring money to another account
Moving money from savings to a checking account at the same bank is usually instant or takes a few hours. You can do this through your bank's website, mobile app, or by calling customer service. If you're transferring to an account at a different bank, the money typically arrives in one to three business days. This method works well if you want to move funds without withdrawing cash.
Some banks charge a fee for transfers between accounts, especially if you exceed the monthly withdrawal limit. Check your account terms before you transfer. If you're moving a large amount regularly, ask your bank whether a checking account would be more practical than a savings account.
Using a debit card to withdraw funds
If your savings account comes with a debit card, you can use it to withdraw cash at any ATM or make purchases directly from the account. Not all savings accounts include a debit card—many banks issue them only for checking accounts. Ask your bank whether your savings account qualifies.
Debit card withdrawals count toward your monthly withdrawal limit, just like ATM withdrawals do. If you use the card to make a purchase, that counts as a withdrawal too. Keep track of how many times you've withdrawn in the month so you don't accidentally trigger a fee.
What happens if you removed an account holder
If you recently removed someone from the account—such as a spouse, adult child, or co-signer—that person should no longer be able to withdraw money. However, the change doesn't always take effect immediately. Call your bank to confirm the removal was processed and ask when the old account holder's debit card and online access will be shut off.
If the removed person still has a debit card linked to the account, contact your bank right away. The bank can deactivate the card or freeze the account temporarily while they investigate. Keep a record of when you requested the removal and what the bank told you, in case there are unauthorized withdrawals later.
Withdrawal limits and fees
Federal rules no longer cap the number of withdrawals from savings accounts, but individual banks can set their own limits. Common limits are six withdrawals per month, though some banks allow unlimited withdrawals. Exceeding the limit usually costs $10 to $35 per extra withdrawal, or the bank may simply deny the withdrawal.
Some banks waive withdrawal limits if you maintain a high balance or have a premium account tier. Others charge a monthly fee to keep the account open, which may or may not include unlimited withdrawals. Review your account agreement or ask your bank what the exact rules are for your account.
Closing a savings account and removing all funds
If you want to remove all the money and close the account, visit a branch in person or call your bank. You'll need to provide ID and the account number. The bank will ask how you want the remaining balance—as a check, a transfer to another account, or cash. If you choose cash and the amount is large, ask whether you need to come back after they order the money.
Before you close, make sure there are no pending transactions or automatic deposits scheduled. Some banks charge a fee if you close an account within a certain time frame (often 90 days to a year). Ask about this before you close so there are no surprises.
Frequently Asked Questions
Can I withdraw more than the daily ATM limit?
Yes. ATM limits typically cap out at $500 to $1,000 per day, but you can withdraw any amount by visiting a bank teller in person. For very large amounts, call ahead so the bank has enough cash available.
How long does it take to transfer money from savings to checking?
Transfers between accounts at the same bank are usually instant or take a few hours. Transfers to a different bank take one to three business days. Weekend and holiday transfers may take longer.
Do I get charged if I exceed my withdrawal limit?
Most banks charge $10 to $35 per withdrawal over the limit, though some may deny the withdrawal instead. Check your account agreement or contact your bank to learn the exact fee and policy for your account.
What if someone I removed from the account still has access?
Call your bank immediately and ask them to deactivate the old account holder's debit card and online access. Provide the date you requested the removal and ask for confirmation that the change has taken effect.
Can I withdraw money if I'm a joint account holder but the other person doesn't know?
Yes, joint account holders have equal legal rights to all funds in the account. However, if you removed the other person from the account, they should no longer have access. Contact your bank to confirm the removal was processed.