How to Withdraw Money from Your Bank Account

Bank accounts are a great place to keep your cash. Why? 

They are protected by the Federal Deposit Insurance Corporation (FDIC), allow you to set up direct deposits with your employer, and are easy to access. 

In this guide, we'll cover how to withdraw money from a bank account so you can feel confident about accessing your cash.

How To Withdraw Money at a Bank

Withdrawing cash from your bank account at a nearby bank branch is an easy, streamlined process. You'll need to bring along a government-issued photo ID (such as a driver's license). Knowing the bank account number is also helpful.

Fill out a Withdrawal Slip

Many banks offer customers a stack of blank withdrawal slips that can be used to request cash. These are slips of paper on which the name and logo of the bank are clearly printed, along with blank lines for information to fill out. 

You'll need to write in the following:

• Current date
• Name on the account
• Account number
• Amount of cash you wish to withdraw

If you don't know your account number, it may be possible to ask a bank teller to look it up by presenting your photo ID or debit card. 

Once you fill out the withdrawal slip, give it to the bank teller. They will complete the transaction.

Write a Check

If you have paper checks, you may also be able to use them to make withdrawals at the bank. Banks typically issue checkbooks to customers who open checking accounts, money market accounts, and other types of accounts with check-writing privileges. 

To withdraw cash using a check, you'll need to write "cash" on the payee line. This line is typically indicated by the words "Pay to the order of." You can then hand the check to the bank teller, who will likely ask for a photo ID to confirm your identity. They'll then process the transaction as long as there is enough money in the accounts to cover the withdrawal.

A note of caution — if your check is mislaid or stolen, someone else could cash it. Therefore, it's likely best to wait until you're at the bank before writing "cash" on the payee line. 

How To Withdraw Money From an ATM

ATMs are computerized bank machines that allow users to withdraw and even deposit funds without walking into a bank branch. They're a handy way to access cash when the bank is closed.

Typically, anyone with a U.S. bank account and an ATM or debit card can use any machine in the country. You may also be able to use ATMs in many other countries.

However, you may be charged a fee to use an ATM that is outside of your bank's network. 

To find a nearby in-network ATM, you can use your bank's ATM location page. Many banks are part of large ATM networks. So the odds are good that there's an available machine near you.

Once you find an ATM, insert your ATM or debit card or tap it to begin a transaction — though some banks do allow card-free ATM access. You'll need to enter your personal identification number (PIN), a four-digit number used to secure your account. PINs are usually assigned when debit and ATM cards are issued. However, some banks allow customers to reset their own PINs.

Upon entering your PIN correctly, the ATM will likely give several options. These options may include:

• Withdrawing cash
• Depositing funds
• Checking the balance

Choose the appropriate action. You may also need to select whether to withdraw from a checking or savings account.

The ATM will then prompt you to enter the amount of cash requested. As long as the requested funds are available in the account, the ATM will dispense your cash and issue a receipt. You may wish to hold onto the receipt for a written record of the transaction.

How To Request Cash Back at a Store

Many retail stores may offer cash back at the register. This may be a convenient way to make a quick withdrawal using a debit card.

To request cash back with a debit card at a retail store, use the card to pay for a purchase. Tap, swipe, or insert the card using the point-of-sale terminal at the counter and enter your PIN. Note that some stores may allow you to withdraw cash only by inserting the card rather than tapping.

If the retail store offers cash back on purchases, you may enter the amount that you wish to withdraw. Typically, stores will offer up to $100, although the limit may vary.

The terminal will then process the entire transaction, including both the purchase and the cash-bank withdrawal. The cashier will provide the requested amount, or a machine may dispense it for you to take. 

How To Withdraw a Large Amount of Cash

Different banks have different policies for how much cash may be withdrawn in a single 24-hour period. In addition, at the same bank, there may be varying maximums depending on the type of account and the account holder's banking history.

The withdrawal limit may vary from a few hundred to a few thousand dollars. In addition to withdrawal limits, the bank may also limit the amount that you may withdraw from an ATM in a single day. If you need to withdraw a large amount, check with the bank first to learn its policies. You may have a better chance of success by withdrawing cash at a bank branch in person rather than using an ATM.

If you need more cash than can be withdrawn in a single 24-hour period, you may need to make several withdrawals over several days. You may also want to contact the bank and request a temporary increase in your withdrawal limit. 

Withdrawing Money From a Savings Account vs a Checking Account

Savings and checking accounts are commonly used forms of bank accounts. However, there are some major differences between the two.

For one thing, checking accounts are typically intended as a short-term place to hold money that you expect to spend. On the other hand, savings accounts are intended to hold money for the long term and even make it grow thanks to interest.

In keeping with the long-term aspect of savings accounts, many banks limit the number of transactions customers may make per month without incurring a fee. (At many banks, the number of fee-free transactions you can make is six.)

That said, if you wish to make additional withdrawals from a savings account, you may be able to transfer the money to a linked checking account and then make a withdrawal. Many banks do not limit the number of internal transfers that can be made between linked accounts.

The Bottom Line

When you first open a bank account, withdrawing cash may seem complicated.

However, with experience, you'll find that several methods allow for convenient, quick withdrawals.

If you have questions about how to withdraw money from an account, contact the bank and ask about its particular policies and procedures.