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 funds to a checking account, or by requesting a wire transfer. Which method you use depends on how much you need, how fast you need it, and whether you want the money in cash or moved to another account.
Most banks let you withdraw cash at ATMs 24 hours a day without visiting a branch. If you need a large amount or want to move money between accounts, a branch visit or online transfer is faster. Wire transfers move money to accounts outside your bank but cost a fee and take a few hours to a full business day.
Key Takeaways
- ATM withdrawals work anytime but usually have daily limits—often $500 to $1,000 depending on your bank and account type.
- Withdrawing at a bank branch in person has no daily limit and is the fastest way to get large amounts of cash.
- Transferring money to your own checking account or another bank account is free and takes one to three business days.
- Wire transfers move money outside your bank but charge a fee (typically $15 to $30) and take a few hours to one business day.
- Some banks charge fees if you exceed a monthly withdrawal limit, so check your account terms before making frequent large withdrawals.
ATM withdrawals and daily limits
Using an ATM is the easiest way to withdraw cash without going to a branch. You insert your debit card, enter your PIN, and select the amount. The money comes out immediately, and the withdrawal shows up in your account right away.
Most banks set a daily ATM withdrawal limit—the total amount you can take out in a single day. This limit varies by bank and account type but typically ranges from $500 to $1,000. Some banks allow higher limits if you request them in advance or if you have a premium account. If you need more than your daily limit, you can withdraw again the next day, or visit a branch to withdraw a larger amount at once.
Using an ATM outside your bank's network may charge a fee—usually $2 to $3 per transaction. Your bank may charge you, the other bank may charge you, or both may charge you. Using your bank's own ATMs avoids this fee.
Withdrawing cash at a bank branch
Walking into a branch and withdrawing cash from a teller is the fastest way to get a large amount of money at once. There is no daily limit for branch withdrawals, so you can take out $5,000, $10,000, or more in a single transaction. The money is in your hand immediately.
Bring your debit card or ID and tell the teller how much you want to withdraw. If you need a very large amount—typically $10,000 or more—the bank may ask you to call ahead so they have enough cash on hand. Some banks also require you to fill out a form for large withdrawals.
Branch hours vary by location, but most banks are open weekdays during business hours and some on Saturday mornings. If you need cash outside these hours, an ATM is your only option.
Transferring money to another account
Moving money from your savings account to your checking account or to an account at a different bank is free and does not require you to handle cash. You can do this online through your bank's website or app, by phone, or in person at a branch.
Transfers between accounts at the same bank usually show up instantly or within one business day. Transfers to a different bank take one to three business days because the banks have to process the transfer through the Federal Reserve's system. Plan ahead if you need the money by a specific date.
To transfer to another bank, you will need the account number and routing number of the receiving account. Your bank can provide these numbers, or you can find them on a check or ask the other bank directly.
Wire transfers for money outside your bank
A wire transfer moves money to an account at a different bank or to a person outside the banking system. It is faster than a standard transfer but costs a fee—typically $15 to $30 depending on whether the money stays in the United States or goes overseas.
To send a wire transfer, go to your bank in person or call them. You will need to provide the receiving account number, routing number, and the name of the account holder. The bank will confirm the details and charge the fee. The money usually arrives within a few hours on the same business day, or by the next business day if you send it after hours.
Wire transfers are final once sent, so double-check all the details before confirming. If you send money to the wrong account, you cannot undo it.
Withdrawal limits and fees
Federal rules limit how many times per month you can withdraw money from a savings account—historically six times, though this rule has been relaxed in recent years. Check your bank's specific policy, as limits vary. If you exceed the limit, your bank may charge a fee per extra withdrawal or convert your account to a checking account.
Some banks charge a monthly maintenance fee if your balance falls below a minimum amount after a large withdrawal. Others charge a fee for excessive withdrawals. Read your account agreement or call your bank to understand what fees apply to your account.
ATM withdrawals outside your bank's network, wire transfers, and some types of transfers may carry fees. Withdrawals at your own bank's branch or ATM and transfers between your own accounts are usually free.
What to do if you cannot access your account
If your debit card is lost or stolen, call your bank immediately to freeze the card. You can still withdraw money at a branch using your ID, or request a new card. A new card usually arrives within five to seven business days.
If you forget your PIN, visit a branch with your ID and ask the teller to reset it. You can also reset it through your bank's app or website if you have online access. If you are locked out of your online account, call your bank's customer service line to regain access.
If your account is frozen due to suspected fraud or other issues, contact your bank immediately. You may not be able to withdraw money until the issue is resolved, which can take several business days.
Frequently Asked Questions
Can I withdraw more than my daily ATM limit?
Yes. Visit a bank branch in person and withdraw from a teller—there is no daily limit for branch withdrawals. You can also request a higher daily ATM limit from your bank, though approval depends on your account history and the bank's policies.
How long does it take to transfer money to another bank?
Transfers between banks take one to three business days. Transfers between accounts at the same bank are usually instant or next-day. Wire transfers are faster—typically a few hours on the same business day—but cost a fee.
Do I get charged for every ATM withdrawal?
Withdrawals at your own bank's ATMs are free. Using an ATM from a different bank may charge a fee of $2 to $3 per transaction, charged by either your bank, the other bank, or both.
What happens if I withdraw too much money too often?
If you exceed your bank's monthly withdrawal limit, you may be charged a fee per extra withdrawal or your account may be converted to a checking account. Check your account agreement for your bank's specific policy.
Can I withdraw money if my account is overdrawn?
No. If your balance is negative or zero, you cannot withdraw money. You must deposit funds first to bring your balance positive. Some banks allow overdraft protection, which links your savings to your checking account to cover shortfalls.