If you are currently with Bank of America, it is important to understand how their ATM’s work. Using an ATM is a great way to get some cash in your wallet, rather than using your credit card. Keep in mind that banks will limit the amount of money you can withdraw or deposit from an ATM each day.
This is especially important to consider if you bank with Bank of America. Continue reading to learn more about Bank of America ATM withdrawal and deposit limits as well as how to get more cash.
What Is the Maximum Amount of Money I Can Withdraw at a Bank of America ATM?
When you open a new account with Bank of America, the daily withdrawal limit will be set at around $1,500. However, this limit can be based on different factors such as the type of account or card you have and the amount the certain ATM offers. Not only that but it also depends on whether or not you have overdraft protection.
What Is the Maximum Deposit Limit for Wells Fargo ATMs?
There is no Bank of America deposit limit for deposits made in an ATM, although there might be a limit to the number of bills or checks you can deposit in a single transaction, based on the capacity of the ATM.
There is no limit on the amount you can deposit at a Bank of America ATM. However, some ATMS will place a limit on the number of bills or checks that you can deposit in a single transaction. This is mainly based on the ATM itself.
How Quickly Will Deposited Funds Be Available?
The time it takes for your deposited funds to be available will depend on if it was through cash or check. If it was deposited with cash, the funds will be available immediately. However if you deposit a check, it could take a whole business day to become available. Bank of America might place a hold that ranges from two to seven days.
The daily cutoff time for a check deposit is 9 p.m. ET and CT and 8 p.m. MT and PT or on a weekend. Then, the next business day counts as the first day.
How To Increase ATM Withdrawal and Deposit Limits
All you have to do in order to increase your ATM limits for Bank of America is call their customer service line at 800-432-1000. Additionally, you could go into a branch and speak to a representative.
You could also use the online banking service or the mobile app.
How to to request an change in your limit online:
- Sign in to Online Banking
- Choose the appropriate account
- Go to the Information & Services tab and choose “Manage Card Settings”
- Select “Set daily purchase and ATM withdrawal limits”
How to change your limit on the mobile app:
- Sign in to the mobile app.
- Select Menu
- Choose “Manage Debit/Credit Card”
- Be sure your debit card is unlocked to Set Limits
How To Get Cash If You’ve Reached Your Limits
If you do end up maxing out your withdrawal limit on your Bank of America account, there are still other options to get some more cash:
Get Cash Back When You Make a Purchase
When using your debit card at a grocery store or other retailer, you can get cash back for that purchase. By doing this, it takes money from your checking account and adds it onto your bill, allowing you to withdraw money. The withdrawal limit also depends on the retailer.
Withdraw Funds From Another Account
Savings accounts at Bank of America have a different withdrawal limit than checking accounts. Keep in mind that you will only be able to make six withdrawals or transfers in each statement period without getting charged a fee.
Cash a Check
Simply take your check to a branch or ATM and cash it in there.
Increase Your Limit
As mentioned before, if the limit that you can withdraw from your Bank of America account is too low, you can always request to increase it through phone, in person, or by using Online Banking or the Mobile App.
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Bottom Line
You never know when you might be in need of instant cash. It is important to understand the daily withdrawal and purchase limits of your Bank of America ATM card to help you better manage your spending’s. For more posts like this, check out our list of bank guides!
