What’s the ATM Withdrawal Limit in the UK?
August 8, 2022
ATMs are the fastest way to get your hands on some cash, but you may wonder how much can you actually get. In this article, we’ll tell you why ATM withdrawals are the preferred choice for getting money, how much can you withdraw from ATM in the UK, and more! Keep reading for all the answers!
Why Withdraw From an ATM?
Before we dive into the numbers, keep in mind ATM withdrawals are the easiest way to get physical money. The ATM—Automated Teller Machine—dispenses cash, but also allows people to check their account balances and even deposit money. Most ATMs don’t charge a fee, but some providers may impose charges at some cash points.
ATMs or cash machines are very easy to use—you need to insert your debit card, enter your PIN, type in the amount you want to withdraw, and get the cash. This is the fastest way to get cash in hand, plus it’s available 24/7! However, there’s an ATM withdrawal limit in the UK, which brings us to our next question.
Why Do ATMs Have Withdrawal Limits?
Banks impose withdrawal limits on ATMs, and you may wonder why. Well, there are a couple of reasons—primarily, there’s the practical aspect, but this is also done for security purposes.
Cash machines can only hold a certain number of bills, so cash distribution needs to be kept under control. By setting a transaction limit for each customer, the bank controls the amount of money collected each day from a single cash machine.
However, there’s another reason for the withdrawal limit at an ATM—the security of customer accounts. In case a card has been stolen along with the PIN, the withdrawal limit will prevent the card from being completely emptied, giving the customer time to report the theft and block the account.
What Does the Withdrawal Limit Depend On?
We already established there are limits for withdrawing money from an ATM in the UK (actually, everywhere in the world). However, these limits vary, so below we’re going to list the different factors that influence the maximum cash withdrawal at an ATM in the UK.
- Daily limit – Each bank account has a daily withdrawal limit, so you can’t make an ATM withdrawal that exceeds it.
- The type of account – Different types of accounts have different limits, so be sure to check the limit on your account.
- The account balance – If you have a very low balance, you might not be allowed to withdraw any of the funds in your account.
- The ATM limit – Some cash machines have a maximum limit per transaction. However, you can make multiple transactions and get more money.
- The bank – Each bank imposes its own limits, so it’s a good idea to inquire about your bank’s limits when opening an account.
Before we give you an answer to “how much cash can I withdraw from an ATM,” we need to share one more important piece of information. The information provided so far concerns withdrawals from debit cards, and although the same information applies to credit cards as well, withdrawing cash from a credit card will incur often very high charges. Keep this in mind if you’re contemplating getting a credit card.
|DID YOU KNOW? The UK is home to the first-ever ATM—in June of 1967, Barclays bank installed an ATM in their Enfield branch in London. The location was chosen because it was the only branch with windows high enough to accommodate the installation.|
How Much Can You Withdraw from an ATM in the UK?
At this point, you already know that the ATM withdrawal limit depends on several factors, one of them being the bank that has issued the card. So, we wanted to provide you with information on the current withdrawal limits imposed by different banks—to make things simpler, we listed them in different sections:
At Nationwide, most account holders can make a daily withdrawal of £500 from the cash machine, although some cards (Smart card, FlexOne) have a lower limit of £300.
The max cash withdrawal from an ATM with HBSC depends on the type of account you have. The HBSC Bank Account and the HBSC Basic Bank Account have a limit of £300, the limit for an HBSC Advance is £500, while the maximum amount you can withdraw with HSBC Premier and HSBC Jade accounts is £1,000.
At Natwest, the withdrawal limit is also determined by the type of account: the Student account, Graduate, Adapt, and Savings account all have a daily withdrawal limit of £250, the Foundation, Select, Reward, Silver, and Platinum accounts have a limit of £300, while the Black account has the highest limit of £750.
If you have a Halifax account, you probably wonder ‘how much cash can I withdraw from the ATM at this bank’? The maximum amount you can get from a Halifax ATM is £500 per day, regardless of the account you have.
At Lloyds Bank, all debit card withdrawals have a daily limit of £500, regardless of whether you’re withdrawing from a Lloyds ATM, or another cash machine.
With a Barclays Personal Current account, you can withdraw £300 per day, although you can increase the limit to £500. The Business Banking card has a fixed limit of £750, while Premier and Platinum accounts have a limit of £1,000. The daily limit for withdrawals with a Barclays Cash Card (Youth) is very low, at only £50.
The maximum cash withdrawal at the ATM at Santander is set at £300 and Santander account holders can make up to 5 withdrawals per day. The limit can be reduced from £300 to £0 or £60 for those who wish to limit their access to cash.
The TSB bank has set a limit of £500 per day, without any withdrawal fees. However, the bank clearly states that if you’re converting currencies at the ATM, fees may apply.
The limit at Metro Bank is lower than at other banks: customers can withdraw a maximum amount of £300 per day. If you want to get more cash, you’ll need to go to a branch, and withdrawals of more than £1,000 require a day’s notice.
Wondering ‘how much can I withdraw from an ATM at Starling’? The answer is £300, the same as with Metro Bank and lower than at some other banks’ ATMs. However, at Starling, you can make up to six withdrawals a day!
If you have a Virgin Money account, keep in mind you can only withdraw £250 per day at an ATM, while the limit is £500 per day at Virgin Money Stores.
The withdrawal limit at Co-op Bank is £250, although you can increase the limit for a maximum withdrawal from ATM to £500 if you need access to more cash on a regular basis.
|DID YOU KNOW? Besides money, ATMs can also dispense gold; the first gold-extracting ATM was located in the lobby of the Emirates Palace Hotel, in Abu Dhabi, Dubai. As many as 320 gold items can be withdrawn from this machine.|
Other Methods of Money Withdrawal
We already know withdrawing money from an ATM is the easiest and most popular way of getting cash. However, as most providers impose a limit on the maximum cash withdrawal at the ATM, it’s good to know what other methods for withdrawing money you have available.
- At a branch – You can withdraw money directly from your account at any bank branch. You can also deposit cash, but there are limits to how much you can deposit at the bank.
- At the Post Office – The UK Post Office offers services such as checking your account balance, withdrawing money, and cashing cheques—although cashing a cheque at the Post Office may impede the cheque clearance time.
- At the shop – Some shops and supermarkets allow debit card cash withdrawals at the checkout.
Now that you’re familiar with all the methods for withdrawing money and you know how much can you withdraw from an ATM, you can decide on the right method for you.
|DID YOU KNOW? It seems like there are ATMs everywhere—and that’s not far from the truth. Currently, there are more than 3 million ATMs in the world, and a new machine is installed approximately every 3 minutes.|
The ATM is a quick and easy way to get some cash, but each bank imposes its own limits on how much can you withdraw per day or per transaction.
Generally, withdrawal limits range from £250 to £500, but it’s good to know what to expect before you start looking for your nearest ATM. Hopefully, this article has helped you learn how much money can you withdraw from an ATM!
The daily limit for ATM withdrawals depends on several factors, but it’s largely dependent on the bank and the type of account you have. In this article, you can find the daily withdrawal limits for all the best-known UK banks.
Some UK banks allow only one withdrawal per day, while others allow multiple transactions (as many as 5 or 6 per day).
When it comes to how much can you withdraw from ATM at most and which banks have the highest limits, the answer is Barclays and HBSC. Some account holders at these banks can withdraw as much as £1,000 per transaction.