can withdrawing money from an atm often cause your account to freeze?

Question

is withdrawing more than once a day bad.

- my friend said he went to get money from the atm, but it didnt let him- it said he had $0. (on all his accounts)

Answer 1

Financial Institutions set maximum daily withdrawal limits on ATM withdrawals. Typically, this amount is between $300 and $400 per day. It is possible that your friend hit this limit, but I don't think so. If the account showed $0 available, it may be do to other things.
1. If you deposit money in an ATM, there will be a 3-4 day hold on the funds to verify the deposit. The money is in the account, but not available until the hold is removed.
2. If you have transferred money from one account to your ATM account, there may be a 1 business day hold on the money.
3. New accounts will typically have holds placed on all checks for the first 3-6 months of the account. If you deposit a personal check (from friend or family) it will have the hold. A guaranteed check (US Postal money order or cashiers check) should not have any holds on them at all.
4. Your friend really didn't have any money in his account and was embarrassed to tell you that. (Just a thought).

In the end, have him call his bank or stop in to a branch to discuss what happened. Hopefully he has the receipt still so the teller/representative can look at the account status for that specific time frame.

Good Luck!

Answer 2

No it won't cause your bank account to freeze. The only time the banks put a freeze on your ATM is that if you are withdrawing 1000s of dollars on multiple days. The banks do this as a security and a red flag comes up to block the ATM card and once this happens, you have to call them to unfreeze it.

Answer 3

Banks generally have a daily limit on how much you can withdraw from an ATM, and many often also have a limit on the number of withdrawals - 2 is common.

Answer 4

No, that really shouldn't happen. Usually there is a limit to the amount of cash you can withdraw in one day, but as long as you don't go over the total amount, you shouldn't have a problem. I think your friend should call his bank right away and check what's going on with his accounts.

Answer 5

Typically one needs money within an account in their name to withdrawal said money from said account at an ATM location.

Answer 6

I don't think so, because I do withdrawal money from ATM sometimes more than once the same day.
Your friend need to check out with his Bank.

Answer 7

If you TRUST family member(s), give them a DEPOSIT ticket and cash, and make sure they give you the RECEIPT to prove all that cash was deposited. The tellers WILL NOT ask about cash deposit as long as the amount is under $ 10,000.00. At that level or above, but ONLY FOR CASH, you need to fill out a government form. For CASH deposits of $ 9999.99 or less, no form is necessary. No government form is necessary for any amount of check deposits.