The basic ways to take 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 transferring money to a checking account, or by requesting a check. The method you choose depends on how much you need, how fast you need it, and whether your bank charges fees for each type of withdrawal.

Most banks let you withdraw cash at their ATMs with no fee. If you use an ATM that belongs to a different bank, you will usually pay a fee of $2 to $3.50 per transaction — both your bank and the other bank may charge you. Some banks waive out-of-network fees if you maintain a high balance or have a premium account type.

Withdrawing in person at a branch is free and lets you take out large amounts without ATM limits. You will need your debit card or account number and a photo ID. If you do not have your card, you can still withdraw by providing your account number and ID to a teller.

Key Takeaways

  • ATM withdrawals are usually free at your own bank's machines but cost $2 to $3.50 at other banks' ATMs.
  • In-person withdrawals at a branch are free and have no daily limit, unlike ATM withdrawals which typically cap at $300 to $500 per day.
  • Transferring money to your checking account is free and takes one to three business days, or is instant if both accounts are at the same bank.
  • Requesting a check is free but takes five to ten business days for the check to arrive and then another one to three days for the recipient to cash it.
  • Some savings accounts limit the number of withdrawals per month — exceeding the limit may trigger a fee or convert your account to a checking account.

ATM withdrawal limits and fees

Most banks set a daily ATM withdrawal limit between $300 and $500, though some allow up to $1,000 or more. This limit resets at midnight each day. If you need more cash than your daily limit allows, you can make multiple withdrawals on separate days or go to a branch and withdraw in person, which has no limit.

Out-of-network ATM fees vary by bank. Your bank typically charges $1 to $3, and the ATM operator charges another $1 to $3. Some banks reimburse out-of-network fees if you maintain a certain balance, have direct deposit set up, or hold a premium account. Check your bank's fee schedule or call customer service to learn what you are charged.

If you travel or live far from your bank's branches, look for banks that are part of a shared ATM network — many regional and national banks belong to networks like Allpoint, MoneyPass, or CO-OP that let you use thousands of ATMs for free.

Transferring money to checking or another account

Transferring money from savings to checking is usually free and takes one to three business days if both accounts are at the same bank. If your bank offers real-time transfers or if you set up the transfer online, the money may arrive instantly or within hours. Once the money is in your checking account, you can withdraw it at an ATM or spend it with your debit card.

You can also transfer money to an account at a different bank, though this takes longer. Set up an external transfer through your bank's website or app by providing the other bank's routing number and your account number there. The transfer typically takes three to five business days. Some banks charge a fee for outgoing transfers to external accounts, though many do not.

If you need money urgently and both accounts are at the same bank, call the bank and ask if they can process an instant transfer. Many banks offer this for free or for a small fee, especially if you are a long-standing customer.

Withdrawal limits and account restrictions

Federal rules once limited savings account withdrawals to six per month, but that rule was suspended in 2020 and has not been reinstated. However, your individual bank may still impose its own withdrawal limits. Check your account agreement or call your bank to learn if there is a cap on how many times per month you can withdraw.

If your bank does limit withdrawals and you exceed the limit, you may be charged a fee of $5 to $25 per excess withdrawal. Some banks will convert your account from a savings account to a checking account if you repeatedly exceed the limit. This conversion may lower your interest rate or change your account features, so it is worth calling your bank before you hit the limit repeatedly.

Certain savings accounts, like high-yield savings accounts or money market accounts, are more likely to have withdrawal restrictions than basic savings accounts. Read the terms before opening the account so you know what to expect.

Requesting a check or cashier's check

You can request a check from your savings account by visiting a branch, calling your bank, or using your bank's website or app. The bank will mail the check to you, which typically takes five to ten business days. Once you receive it, the recipient must deposit or cash it, which takes another one to three business days to clear.

If you need the money faster, ask for a cashier's check instead. A cashier's check is issued by the bank itself rather than drawn on your account, and recipients often trust it more than a personal check. You must request a cashier's check in person at a branch, and the bank will issue it immediately. Cashier's checks usually cost $5 to $15 per check.

For very large amounts or time-sensitive payments, a cashier's check is often worth the fee because it clears faster and the recipient is more likely to accept it without delay.

What to do if you cannot access your account

If your debit card is lost, stolen, or expired, you can still withdraw money by going to a branch with your photo ID and account number. The teller can verify your identity and process the withdrawal without your card. This takes a few minutes and is free.

If you have forgotten your PIN or cannot log into your online account, call your bank's customer service line. They can reset your PIN over the phone or send you a temporary password to log in online. Once you regain access, you can withdraw money using any of the methods described above.

If your account is frozen or restricted due to suspected fraud or a legal hold, contact your bank immediately to learn why and what steps you need to take to restore access. These holds can take days or weeks to resolve depending on the reason.

Frequently Asked Questions

Can I withdraw money from my savings account anytime?

Yes, you can withdraw money anytime during business hours at a branch or 24/7 at an ATM. However, your bank may limit how many withdrawals you can make per month, and ATMs have daily withdrawal limits. Check your account agreement to see if your bank has these restrictions.

Do I have to pay a fee every time I use an ATM?

No. Using your own bank's ATM is free. Using another bank's ATM costs $2 to $3.50 per transaction. Some banks waive out-of-network fees if you have a premium account or maintain a high balance — contact your bank to learn if you may have access to.

How long does it take to transfer money from savings to checking?

If both accounts are at the same bank, the transfer is usually instant or takes one to three business days. If you are transferring to a different bank, it takes three to five business days. Some banks offer faster transfers for a fee.

What is the difference between a personal check and a cashier's check?

A personal check is drawn on your account and takes one to three business days to clear. A cashier's check is issued by the bank and clears much faster, usually within one business day. Cashier's checks cost $5 to $15 but are useful for large payments or when the recipient needs the money quickly.

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

You cannot withdraw more than your daily limit at an ATM — the machine will reject the request. To withdraw a larger amount, visit a branch in person, where there is no daily limit, or make multiple ATM withdrawals on different days.