Navigating Bank of America’s ATM Withdrawal Caps and Strategies for Accessing Extra Cash

Navigating Bank of America's ATM Withdrawal Caps and Strategies for Accessing Extra Cash

When you’re picking a new savings or checking account from a bank, credit union, or any financial institution, you usually have a list of personal needs. Your bank account should align with both your long-term goals and everyday requirements. One important factor to consider is the limit on how much you can withdraw or deposit at an ATM.

If you often need quick access to cash, you’ll want a bank and ATM network that matches your usage. Knowing the withdrawal and deposit limits for your Bank of America account can help you manage your money better.

**Bank of America ATM Withdrawal Limits**

For most Bank of America checking or savings accounts, the daily ATM withdrawal limit is $1,000. This limit can vary based on the type of account or card you have, the ATM’s cash dispensing capacity, and whether you have overdraft protection. These limits are in place for security reasons to prevent unauthorized access from draining your account and to help banks manage their cash flow.

**Can I Withdraw $5,000 From Bank of America?**

While the daily ATM withdrawal limit is usually $1,000, Bank of America has a daily debit limit of $5,000. This means you can’t withdraw $5,000 from an ATM, but you can visit a Bank of America branch to withdraw that amount if your account allows it. Different accounts and cards may have varying limits, so it’s best to check the specifics for your account.

**Bank of America ATMs: Deposit Limits**

There’s no set deposit limit for Bank of America ATMs, though there may be restrictions on the number of bills or checks you can deposit in one transaction, depending on the ATM’s capacity.

**How Quickly Will Deposited Funds Be Available?**

The availability of your deposited funds depends on the deposit type:
– Cash deposits are available immediately.
– Check deposits might be available the next business day, but a hold could be placed, ranging from two to seven days.

If you deposit a check after the daily cutoff time (9 p.m. Eastern and Central time, 8 p.m. Mountain and Pacific time) or on a weekend, the next business day counts as the first day. Your receipt and the ATM screen will indicate if there’s a hold on the deposit.

**Check Holds**

Holds on check deposits give the bank time to validate the check and collect funds from the issuer.

**How To Increase ATM Withdrawal and Deposit Limits**

To change your ATM withdrawal limit, you can visit a branch and speak with a customer service representative, call Bank of America customer service at 800-432-1000, or use Online Banking or the mobile app.

**To Request an Increase Online:**
1. Sign in to Online Banking.
2. Choose your account.
3. Go to the Information & Services tab and select “Manage Card Settings.”
4. Select “Set daily purchase and ATM withdrawal limits.”

**To Change Your Limit on the Mobile App:**
1. Sign in to the mobile app.
2. Select Menu.
3. Choose “Manage Debit/Credit Card.”
4. Ensure your debit card is unlocked to set limits.