This is the maximum amount of money that can be withdrawn from an ATM according to the company in 2024.
Withdraw money from an ATM For many people, this has become almost a daily routine. This practice is becoming less common for some segments of the population and is necessary for others who still need cash to pay for certain things.
Although there are fewer and fewer of them, there are merchants and establishments that do not accept credit card or cell phone payments. This means we still need cash and will have to go to an ATM to do so. However, you should be aware that there are certain restrictions on withdrawing certain amounts of money and that, If you need a large amount of money at once, you may have problems.
Reason for restrictions on ATM withdrawals
There are some ATM withdrawal limits. This measure is carried out by the Treasury, as well as banks and savings banks. to prevent crimes such as fraud and tax evasion. or money laundering.
Cash is not subject to declaration, since it is not accounted for anywhere. This results in a shadow economy that is difficult for the Treasury to control. This is why banks and thrifts are required to notify the Treasury if amounts of money exceeding certain limits are withdrawn from an ATM. The same thing happens when you deposit cash through an ATM into a bank account.
On the other hand, if you need to withdraw a large amount of money at once, you will have to notify your bank in advance if they do not have the amount available, as well as justify the purpose of the cash.
General limits for ATM withdrawals
The maximum limit for withdrawing money from an ATM without justification is set at 3,000 euros.. This limit can vary from bank to bank and in fact, as we’ll see later, there is quite a bit of variation between what each bank sets. The limit is the same as the amount of money we deposit through an ATM and keep in our bank account.
Nevertheless It is likely that a bank or savings bank customer will receive a call. telephone from your banking institution with a request for clarification about the purpose or origin of the money, depending on each case, if the amount of money exceeds 1000 euros and there is no reason for this.
To request amounts exceeding 3,000 euros, you must personally go to one of the offices of the bank of which you are a client and ask for a receipt. After completing this procedure, the cash bank sends the said receipt to the Tax Agency. In both cases, a call or request for information from a bank or savings bank may occur, be it a specific movement at an ATM or recurring transactions.
Cash limit for each bank
Nevertheless, Banking institutions can choose a limit which they impose on their customers at the ATM when withdrawing or depositing cash. They vary depending on the conditions and requirements of each bank, as well as the type of bank account we have with the organization. These Limits at the main Spanish banks and savings banks:
- BBVA: 2000 euros per day
- ING Direct: 2500 euros per day
- Abanka: 1000 euros per operation or 2000 euros per day.
- Bankinter: 1000 euros per day
- EVO Bank: 2000 euros per day
- Iberkaya: 1000 euros per day
- CaixaBank: 1200 euros per transaction
- Openbank: 1200 euros per day
- Banco Sabadell: 600 euros per day
- Banco Santander: 3000 euros per day