How much can you withdraw from ATM? What is maximum amount of money I can get from UK cash machine in one day

New research by cash machine provider Link has found consumers are turning to cash to help them manage the cost of living crisis

With the worst cost of living crisis in a generation currently impacting the UK, there’s never been a more important time to look after your money.

In a world of contactless cards, it’s easier than ever to spend cash - although some banks and providers do allow you to set maximums below the legal limit.

This week, research by ATM provider Link found people have been turning to cash machines to help them manage their finances.

So what did Link’s research find - and how much per day can you withdraw from an ATM?

A survey has found some people in the UK are returning to physical cash amid the cost of living crisis (image: Getty Images)

Why are consumers turning to cash amid cost of living crisis?

According to Link, people are returning to physical money in the wake of the cost of living crisis.

A survey of more than 2,000 people conducted in June by the cash machine provider found one in 10 were planning to save money by using contactless less frequently.

Meanwhile, 9% said they aimed to use cash more often.

Follow-up questions for this latter group found the most popular reasons for returning to cash were:

  • 63% said they could get a better idea of how much they are spending
  • 58% said having physical money helps them to spend less
  • 57% said it helps them with budgeting

Despite these findings, cash use appears to have declined overall.

Contactless payments became crucial in the Covid pandemic (image: Getty Images)

Link says that while a majority (68%) of UK adults had used physical money in the fortnight leading up to the survey, this marked a decrease on February 2022 - the last time the survey was conducted - when 71% of respondents said they had done so.

“For some, card and digital payments mean they can track all their spending online or on mobile banking,” said Graham Mott, Link’s director of strategy.

“Yet, for many, especially those on fixed or lower incomes, there is no better substitute for budgeting to cash.

“Not everyone has access to cards or digital payments and they know exactly how much money they have when paying in cash for the bus or in the local shop.”

How much can I withdraw from an ATM?

NationalWorld has looked at the policies of the major high street banks and providers to see how much cash they allow you to withdraw from an ATM.

The figures below are the amounts debit card holders can access, as some credit card cash machine withdrawals can incur additional charges.

High net worth individuals who bank with HSBC can withdraw up to £1,000 from ATMs (image: Getty Images)

Here’s what we found:

HSBC

HSBC allows its customers to withdraw different amounts depending on what kind of account they have with them.

Basic account holders can access £300 per day, HSBC Advance customers can get £500, while high net worth Premier and Jade members can withdraw £1,000.

Natwest and RBS

Natwest also has different withdrawal levels depending on the kind of account you have.

Student, Graduate, Savings and Adapt accounts allow you to withdraw up to £250 in a day.

This amount increases to £300 for Foundation, Select, Reward, Silver or Platinum accounts.

And for Black accounts, the daily limit is £750.

Some Barclays customers can get up to £2,000 from an ATM (image: AFP/Getty Images)

Barclays

Youth cash card holders at Barclays can withdraw up to £50 per day.

Non-youth current accounts are able to take out as much as £300 every 24 hours, while Business Banking allows withdrawals of £750.

Premier and Platinum customers get a £1,000 default limit that can be upped to £2,000.

If you head into a Barclays branch, you can withdraw as much as you like.

But the bank says that any requests for amounts above £2,000 have to have at least 24 hours notice.

Santander

Santander has a universal daily withdrawal limit of £300.

However, its Select Current Account allows up to £1,000 per day to be taken out at the cash machine.

For corporate customers, the daily limit is £250, with amounts above this requiring advance notice (although Santander does not say how far in advance this should be).

Nationwide

All Nationwide accounts, barring FlexOne and Smart card (both £300), allow you to take out £500 a day at an ATM.

Over a branch counter, the maximum goes up to £10,000 - although you’ll need ID and proof of address.

The use of physical money has declined in the UK since the Covid pandemic (image: AFP/Getty Images)

Halifax

Halifax’s maximum daily withdrawal amount is £500 from a cash machine.

To take out anything between £500 and £2,500, you have to do so over the counter.

Lloyds Bank

All Lloyds Bank debit account cards allow withdrawals of £500 a day out from an ATM.

Starling

Also keeping things simple is Starling Bank, which has a universal limit of £300.

Virgin Money

Virgin Money is another provider which has handily kept things standardised.

The maximum amount that can be withdrawn at a cash machine in the UK is £500.

Metro Bank

As with several of the other high street brands, Metro Bank allows you to take out a maximum of £300 per day.

This rises to £1,000 in a branch if you’re 16 or over.

If you’re after more than a grand, you will have to give Metro Bank at least one weekday’s notice.

Co-op

The Co-op Bank allows a standard daily withdrawal limit of £250.

For those who want to increase their withdrawal maximum, you have to contact the bank directly.

The limit can be upped to £500 in £10 increments.