In Austria, adults can withdraw 400 euros per day with their ATM cards. Individual limits apply to ATMs in bank branches.
Even though card payments are becoming more and more popular, in some cases it is advantageous to pay with cash. Your ATM card plays an important role in this.
Two functions
It has two functions: you can use the debit card to make cashless payments in shops, supermarkets and restaurants. You can also use it to withdraw cash from the ATM.
Read more: For emergencies – this is how much money you should have at home
Unlike credit cards, the checking account is debited immediately. Debit cards can also be used not only in Germany, but mostly in Europe or even worldwide.
Withdraw up to 5,000 euros from the bank
However, certain limits apply to cash withdrawals. In Austria, adults can withdraw 400 euros per day with their ATM cards. Cash dispensers in bank branches and bank foyers have individual limits. There – depending on the agreement – removals of up to 5,000 euros per day are possible, according to the website for consumer questions of the Federal Ministry for Social Affairs, Health, Care and Consumer Protection.
In the foyer of a bank there is usually an ATM where larger amounts of cash can be withdrawn. However, other special framework agreements apply to certain debit cards. Young people can only withdraw 400 euros a week with their cards.
Therefore you can no longer withdraw money
But why are there these limits? On the one hand, these were set up for security reasons, for example if you lose your ATM card or if it is misused due to theft. If this is the case, you must immediately inform your bank or – outside opening hours – the Austrian blocking emergency hotline. This can be reached from midnight to midnight on 0800 204 88 00.
In addition, limits protect the bank. The available balance on your checking account is what are known as sight deposits. Therefore, you might theoretically withdraw the money in one fell swoop. In practice, this is not possible so quickly. Larger money withdrawals must be reported to the bank in advance, reports “techbook.de”.
Limited amount of money in the ATM
The other reason is pretty simple: the amount of money in a machine is limited due to storage space. If you want to withdraw more money, you can have the money withdrawn at the bank counter.
