Bank of America®¹ customers can make convenient ATM withdrawals in the US and overseas with a debit or credit card. Depending on the specific Bank of America account you have - and whether you qualify for any of the premium banking tiers available - you may find you have varying ATM withdrawal limits and fees.
This guide to the Bank of America withdrawal limits covers what you need to know.
What are Bank of America's ATM withdrawal limits?
So, what is the ATM withdrawal limit for Bank of America?
Bank of America sets a per transaction limit which is usually 1,000 USD or 60 bills². However, other limits might also apply which can vary based on your specific account type and availability of funds. For example, your account may have a Bank of America daily ATM withdrawal limit, or monthly caps on the amount you can withdraw.
You can see your specific account ATM withdrawal limits online, in the Bank of America app, or by checking your cardholder agreement.
Bear in mind that there are 2 possible ATM withdrawal limits you need to consider here. The amount you can withdraw will ultimately be decided by both the Bank of America limit, and any limit imposed by the ATM operator if you use an out of network ATM.
How to check your limits
You can see your Bank of America ATM withdrawal limits in the cardholder agreement that came with your card. If you don’t have that to hand you can also see the limits associated with your account by logging into online or mobile banking, or you can call into a Bank of America branch to ask for face to face help.
Can you change or increase your Bank of America ATM withdrawal limit?
Yes. You can change your Bank of America ATM limits online or in the Bank of America app:
On the Mobile Banking app, select Menu, then Manage Debit/Credit Card. Navigate to Set Limits to enter the limit you want to use
Using Online Banking, go to the Information & Services tab, then Manage card settings and finally Set daily purchase and ATM withdrawal limits
Are Bank of America's ATM limits the same in the US and abroad?
The ATM withdrawal limits associated with your Bank of America card will depend on the specific account you have.
Limits might vary based on ATM type - including whether you’re in the US or overseas. Check your online or mobile banking to see the limits on your specific card and account.
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When does the Bank of America's ATM withdrawal limit reset?
If you’ve set a daily limit in your Bank of America account you’ll likely find it resets at midnight. However, bear in mind that time zones and specific account agreements can make a difference here.
If you’re unable to make a withdrawal and you think it may be because of the daily limit, it’s worth getting in touch with the bank’s customer service team to ask for advice.
Bank of America's withdrawal fees and charges
Bank of America ATM use may come with fees - but these vary based on your account type and tier, where you are and who operates the ATM you’re using.
Here’s a quick overview of the fees for the popular Bank of America Advantage Plus account³ as an example - you can also check your cardholder agreement if you have a different product, or if you need to learn more.
Local ATM fees
Bank of America Advantage Plus customers can make ATM withdrawals with their debit card at a Bank of America ATM in the US for free.
Using a non-Bank of America ATM will usually cost 2.5 USD. Other fees may be applied by the ATM operator.
There are a couple of variances here - Preferred Rewards Platinum, Platinum Honors, Diamond and Diamond Honors tier clients could find they have the out of network fee waived, and may also have some or all of the fees charged by ATM operators reimbursed.
International ATM fees
Using your Bank of America debit card in an ATM overseas usually comes with a 5 USD fee. You’ll also have to pay any fees added by the ATM operators and a foreign transaction fee of 3%.
Bank of America works with banking partners in many countries to offer ATM withdrawals which waive the 5 USD fee. You’ll still pay the 3% foreign transaction fee. You can see the banking partners split out by country in the fee schedule for your account, so you’ll know your options.
You might find that there are ways to cut the costs of using your Bank of America account to make withdrawals, by using in network ATMs or looking for partner banks overseas.
However, you’ll still need to bear in mind the foreign transaction fee - and the limits which apply to your specific account.
This guide covers all you need to know as a quick introduction - and there’s lots more about how to use your account, and the costs involved, in the cardholder agreement you received with your Bank of America card.
Sources:
Sources checked on 05.09.2024
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