The Wells Fargo ATM withdrawal limit, or the maximum amount of money you can withdraw from an ATM in a single transaction, differs depending on whether you’re using your Wells Fargo debit card or a non-Wells Fargo debit card at the ATM.
The former has a higher limit, while the latter has a lower one. You’ll notice this difference immediately when you look at your receipt from the ATM; this is where the information about your limit will be listed.
About Wells Fargo
In the United States, Wells Fargo is one of the largest financial services companies. It offers a variety of banking and credit services to individuals, businesses, and governmental entities.
Founded in 1952, Wells Fargo currently operates over 18000 retail locations with over 6800 ATMs worldwide. Recently, their ATM withdrawal limit has changed from $400 to $200 for select customers which have sparked outrage.
Read on to learn more about why this change was made and how you can avoid these limits in the future. A high number of fraud cases have been reported in recent years.
More than 3 million people have been victims since 2013 alone. A new form of identity theft called skimming has also become popular among thieves, who steal debit card information by making fraudulent copies of debit cards at gas stations or stores that allow them to collect your PIN as well as the information on your card.
Wells Fargo ATM Withdrawal Limit
Currently, the daily limit for withdrawal from an ATM is $400. Wells Fargo does not limit how much you can withdraw from a branch.
There are two types of limits: individual and account total. The account total limit is $10,000 per day for withdrawals or transfers at ATMs and branches combined.
An individual limit may be set if there is reason to believe that this higher limit could be exceeded. For example, someone might have to pay back taxes owed and might need more than $10,000 to do so.
In these cases, we would evaluate the person’s financial situation and possibly raise their request limit. A new ATM card would also be issued with these increased limits.
What If I Have More Than That In My Account?
If you have more than the limit in your account, there is no way to take out more money from that location.
Wells Fargo has enabled a smartphone application called Wallet for free which allows customers to withdraw cash from their accounts at ATMs outside of their network by using either a Visa or MasterCard debit card.
Customers should always know what they’re doing before using this service as there can be fees incurred depending on the debit card being used.
Make sure you use an ATM located within the same network as your bank and not one operated by another company.
You will also need to use a chip-enabled card instead of a magnetic stripe when withdrawing money with Wallet.
What If I Have Less Than That In my Account?
If the ATM asks you for a withdrawal amount and your balance is less than the requested amount, it will just show an error message.
No need to panic! When this happens, just call customer service and give them your account number and PIN so they can see what the problem is.
They should be able to help you if it’s something simple like not enough money in your account or a problem with your card. If not, then make sure you have cash on hand before heading out next time.
It’s always better to err on the side of caution when dealing with personal finances.
What About Limits On Daily Withdrawals?
There are two limits on daily withdrawals at Wells Fargo ATMs. The limit for a first transaction is $200, and for any subsequent transactions during the same day, the limit is $400.
Once you exceed this limit, your card will be declined. There’s also a limit of 24 withdrawals in one week. If you exceed this limit, then your account will be frozen until you contact the bank or they contact you.
How Can You Increase Your Limit
You can apply for a new account with Wells Fargo. This will allow you to have more access and increased withdrawal limits.
All you need to do is contact Wells Fargo, provide your personal information and some documentation, and then your request will be processed as soon as possible.
If you are not eligible for this type of account, there are other ways to increase your limit at the ATM.
For example, if you are a customer of another bank but want an increased limit on ATMs within the same system (Cirrus), all you need to do is call up that bank and let them know what you would like done.
They will adjust the limits accordingly, and everything should work out just fine! Another option is to change banks.
Several banks offer high withdrawal limits from their ATMs which you may find attractive.
However, before making such a decision it is important to consider any fees associated with using those services because they might turn out to be more expensive than using your current provider’s services.
Finally, another way to increase your ATM withdrawal limit without changing banks or going through Wells Fargo’s process is by getting a credit card with higher spending limits.
What Are The Withdrawal Limits On A Wells Fargo ATM?
Currently, a customer is only able to withdraw up to $400 from their Wells Fargo account in one day and six withdrawals per statement cycle.
This withdrawal limit excludes cash advances or PIN transactions. These limits are put in place to help protect consumers from identity theft and fraud.
You can also contact Wells Fargo for higher limits depending on your account type.
READ MORE: Chase ATM Deposit Limit Per Day
Conclusion
After learning about the Wells Fargo ATM withdrawal limit, it’s clear that being prepared can be the difference between taking out enough money to get through the month or having to scramble and find an alternative way to access your funds.
Always look at your account regularly and make sure you know what limits apply so you’ll always have an idea of how much money is available for withdrawals.