Wells Fargo ATM Withdrawal Limit

Wells Fargo was founded in 1852. Wells Fargo provides banking, investment and mortgage product and services, as well as consumer and commercial finance through More than 13,000 ATMs. Their headquarters is located in San Francisco, USA.

What is ATM withdrawal limit?

ATM withdrawal limit is the maximum amount of money a person can withdraw from an Automated Teller Machine in a specified time.

Withdrawal limit can be very annoying, but it is a practice that is followed religiously by almost every Bank in the United States. There are reasons why the ATM limit was adopted, some of them are :

  • Insufficient Funds

Banks don’t keep too much money on their vault, so once they notice that they’re running short of money they restrict the users’ access to money.  It makes it hard for someone who stole your ATM card to withdraw all your money at once.

  • Security of funds

With ATM withdrawal limit, a stranger who was able to get access to your card and security number can only withdraw a specific amount of money before they are locked out for the day.

Wells Fargo ATM Withdrawal Limits

 

Now that you understand why withdrawal limits are important. Let’s find out what Wells Fargo withdrawal limit is.

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 also change the withdrawal limit. This depends on the kind of account you open, below are the different types of Wells Fargo account.

      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.

These are the various account you can open with Wells Fargo that will determine how much you can withdraw.

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