BBVA, Banco Santander, Europa Press, Getty Images, max-kegfire Santander Bank, Bbva and Caixabank Warn: the Change at the Atm That No One Expected
The main banks warn of the limits that exist when withdrawing cash from ATMs
You may have tried to withdraw a large amount of money from the ATM at some point. But as has happened to many people, you've encountered a limit. More and more banks, such as Banco Santander, BBVA, and CaixaBank, are setting limits on the amount of cash you can withdraw from their ATMs.
This is due to a regulation by the Tax Agency. It sets a maximum of 3,000 euros, although each bank has its own policies and caps established for daily withdrawals.
Why Are There Limits for Withdrawing Money from ATMs?
The Tax Agency establishes that banks must monitor large cash transactions. Especially because these movements may be related to illicit activities. Thus, entities have begun to apply limits generally when withdrawing cash from their ATMs.
The standard cash withdrawal limit is generally between 600 and 1,000 euros per day, depending on the entity and the card. However, this doesn't mean you can't withdraw more money.
In most cases, customers can adjust these limits through the bank's app or website. However, always respecting the caps established by each entity.
Limits at Banco Santander, CaixaBank, and BBVA
Although the general limit of the Tax Agency is set at 3,000 euros, each bank has its own internal policy for cash withdrawals. According to the portal Help My Cash, Banco Santander's limit is up to 3,000 euros per day, which is the maximum allowed by the Tax Agency.
At BBVA, the withdrawal cap is 2,000 euros per card and day. Meanwhile, CaixaBank customers can withdraw up to 1,200 euros per day from their ATMs.
In the case of ING, the maximum is 2,500 euros daily, compared to Sabadell's 600 daily.
If you need more money than you can withdraw according to the established limits, you always have the option to request a temporary modification of the caps from your bank. This request can be made through the bank's mobile application, by phone, or even at a branch. However, you must keep in mind that the maximum amount you can withdraw will never exceed the limit that the entity has established.
Changing the withdrawal limit is quite simple. Most banks allow their customers to adjust the withdrawal caps through their mobile applications or web portals. Simply access your account, look for the 'withdrawal limits' option, and adjust the amount you prefer.
More posts: