Is this possible withdrawing money from ATM?

Question

There is a $500 daily ATM withdrawal limit at my bank.... so would this work. I draw $500 at 11:59PM... then draw another $500 at midnight. Would this work?????

Answer 1

Actually, I don't think it would work (I'm just guessing though). The bank posts overnight. At least that's what my husband tells me (he works at a bank, albeit not in consumer banking). I think it would work if you were to withdraw at 11pm and then again at 6am.

Answer 2

The way my bank works, our customers have a default setting on their debit cards of $300 ATM daily, $300 point of sale (PIN-based) daily, and $1000 MasterMoney (credit) daily. This goes per calendar date. Theoretically, it could work. But every bank is different. If you are going to experiment on this, I suggest going to an ATM that is connected with one of the bank branches (in case your card gets eaten--it will be easier to get it back if you can just go into the branch and ask for it), and go during the week, not the weekend.

All banks have a cut-off time, where transactions done after that time will post to the next day's business. Ours is 4pm. So you could withdraw money at 4:30 and it would not post to your account until tomorrow night, whereas if you had withdrawn money at 3:30, it would post tonight. The posting schedule should not affect your daily limits.

Good luck.

Answer 3

Depends on what time your bank posts it's transactions and if you are in the same time zone as the main branch that runs the operation.. If they post at midnight, then yes, it's possible. You can also get around the ATM limit by getting cash back at a retailer with your debit card. places like walmart will give you up to $100 cash back with a purchase and it does not count toward your daily ATM withdrawal maximum.

Answer 4

Why don't you just go inside the bank and withdraw the money?? Or just take $500 today and go tomorrow morning and with draw the rest.