In this article, i will be showing you all Wells Fargo ATM Withdrawal Limit And Debit Purchase?
Having money in your Wells Fargo bank account is great, but your wallet shouldn’t be empty. You’ve got to fill it up with some cash, man.
If you’re ever going to fill up your wallet with cash, you must know the specific Wells Fargo ATM withdrawal limits to avoid disappointments.
ATM withdrawal limit is the maximum amount of money that you can withdraw from an Automated Teller Machine in a specified time.
If you’re someone that frequently needs large amounts of cash, you might want to compare the withdrawal limits of the different banks in the United States before making a decision.
In this article, we’ll help you review that of Wells Fargo. Also, you’ll learn how to increase your ATM withdrawal limits if you’re locked down to an uncomfortable amount.
Why ATM Withdrawal Limits?
Wells Fargo ATM withdrawal limits can be annoying, to say the least. But why do banks insist on these limits?
A practice that’s followed religiously by almost every bank in the United States cannot be meaningless, and you’ll learn the reasons for the ATM limit here.
- Security of funds
If some random person could access your card and the security numbers, they can withdraw all of your money, right?
Except that is not entirely correct. With ATM withdrawal limits in place, a stranger can only withdraw so much money before they’re locked out for the day.
Imagine a life without ATM withdrawal limits. You can just get hold of Elon Musk’s debit card and cash out in millions, right?
We disagree with that too.
- Insufficient funds
Recall that a life without ATM withdrawal limits won’t be easy on scammers trying to wipe their victims’ accounts. This is the reason for that.
Banks don’t keep too much money in their vaults, and once they’re running short of money, they’ll restrict users’ access to money.
If that wasn’t the case, Bill Gates could visit his bank, withdraw a million dollars from the machine, and leave you all waiting in line as the bank waits for reimbursement. That would be terrible, to say the least.
Thanks to ATM withdrawal limits, it’s not even possible.
Wells Fargo ATM Withdrawal Limits
Now that you understand why Wells Fargo imposes withdrawal limits, it’s time to know what the limits are.
There isn’t a specific figure that you can withdraw from a Wells Fargo ATM. The limit depends on many other factors, mostly the type of account you run and how well you transact via ATM.
When you sign up for a checking account with Wells Fargo and you’re issued a debit card, your maximum withdrawal limit will be $710.
While that is a general withdrawal limit, you can circumvent that by using a different kind of account. Below, I’ll list the account types at Wells Fargo and their respective withdrawal limits.
- Everyday Checking Account
The Everyday Checking Account is mainly for students and those who always keep low balances. It is only free for persons between the ages of 17 and 24, and it keeps a low withdrawal limit for obvious reasons.
This account charges a $10 monthly maintenance fee to stay up, unless if you are maintaining a daily balance of $1,500 or more.
Apart from the $710 withdrawal limits you’re locked into, you’ll also be charged $2.5 for every out-of-network ATM transaction you make. Looking at how much that is, you’ll always wait for the next Wells Fargo ATM before inserting your card.
- Preferred Checking Account
If you use a Preferred Checking Account, you will get exclusive banking features currently unavailable to Everyday Checking Account users.
It carries a monthly $15 service fee that you can avoid paying by making deposits totaling $10,000 or more in a month. If you link a Wells Fargo mortgage to your Preferred Checking account, you won’t have to pay the monthly service fee.
However, the Preferred Checking account requires you to pay more fees for ATM withdrawals, as compared to Everyday Checking Accounts. So, if you’re planning to make multiple transactions daily, it might not be the account for you.
- Portfolio Account
The Portfolio account is ideal for businesses that deal with large amounts of money as it requires a $30 service fee.
You can withdraw more at ATMs with a Portfolio account. Wells Fargo will let you know exactly how much you can withdraw when you get your debit card.
For businesses that deal with upwards of $25,000 frequently, a Portfolio checking account is still unrivaled.
How to Get Around ATM Withdrawal Limits
Banks want to restrict you with their insane limits, but do you have to obey?
When there is a workaround, we can break the rules. Here are the available workarounds that we’ve found for Wells Fargo ATM withdrawal limits.
- Withdraw cash from the counter
ATMs are machines, and machines can’t be as hard-working as a human. There has to be someone monitoring the affair of the machines.
What if we could get to the monitor directly?
Withdrawing directly from the cashier at the counter can increase your possibilities of getting higher funds from your bank. While you might not be able to withdraw a million dollars, one thing is certain; you’ll get as much cash as the bank is willing to let go of.
If you’re withdrawing from ATMs, upgrading to in-house withdrawals will do a massive job.
- Calling Wells Fargo
Wells Fargo has customer care that you can ring if you need to temporarily raise your withdrawal limits.
We’re not sure if you’ll get minor fees for this, but we’re confident that this is one of the quickest and most effective ways to raise your limits temporarily.
Wells Fargo ATM limits are nothing to write home about. While Wells Fargo has a large network of machines around the United States, they’ll be pretty useless when you’ve hit your limits.
Many hacks can help you raise your limits. If that’s what you’re here for, the points above are a good read.