The basic steps to take money out
Removing money from a savings account means moving funds from that account to somewhere you can spend them — usually your checking account, a debit card, or cash. The method you use depends on what your bank offers and how quickly you need the money.
Most banks let you withdraw in three ways: at an ATM using your debit card, through a teller at a branch, or by transferring the money to another account you own. Some banks also let you use mobile apps or online banking to move money between your own accounts when ready. The fastest method is usually an ATM withdrawal or a same-day transfer to a linked checking account.
If you're removing money because you're changing account holders — adding or removing someone from the account — you may want to move the balance first so there's no confusion about who owns what. This is especially important if you're removing a co-owner or if the account is held jointly.
Key Takeaways
- ATM withdrawals and branch teller withdrawals are the fastest ways to get cash, usually within minutes.
- Transfers between your own accounts at the same bank typically happen the same day or next business day.
- Transfers to accounts at different banks take one to three business days and use the ACH system.
- Some savings accounts have limits on how many withdrawals you can make per month, so check your account rules before you plan multiple withdrawals.
- If you're removing a co-owner from the account, moving the money first prevents disputes about who can access the funds.
Withdrawing cash at an ATM or branch
The simplest way to remove money is to take it out as cash. You can do this at any ATM that your bank owns or at a branch location during business hours. At an ATM, insert your debit card, enter your PIN, select "Withdrawal," choose the amount, and the machine dispenses cash. At a branch, you can ask a teller to withdraw any amount, and they'll count it out for you on the spot.
ATM withdrawals are when ready — the money leaves your account when ready and you have it in hand. Branch withdrawals also happen when ready, though you may wait in line. Both methods work 24/7 for ATMs (though some ATMs have daily limits, often $500 to $1,000) and during business hours for branches (usually 9 a.m. to 5 p.m. on weekdays).
One thing to watch: many savings accounts limit how many withdrawals you can make per month without a fee. This limit varies by bank — some allow six per month, others allow more. If you exceed the limit, your bank may charge a fee or convert your account to a checking account. Check your account agreement or call your bank to confirm your limit.
Transferring money to your own checking account
If you want to move money from savings to a checking account you own at the same bank, this usually happens the same day or next business day. Log into your online banking portal or mobile app, select "Transfer," choose your savings account as the source and your checking account as the destination, enter the amount, and confirm. The money moves automatically without you having to visit a branch.
This method is useful if you want the money in an account where you can write checks or use a debit card more easily. It also doesn't count against your monthly withdrawal limit in most cases, because the money stays within the same bank. Once the transfer completes, you can withdraw the cash from your checking account using an ATM or teller.
If your checking account is at a different bank, the transfer takes longer — usually one to three business days. This uses the ACH (Automated Clearing House) system, which processes transfers in batches rather than when ready. You'll enter the other bank's routing number and your account number at that bank, and the system handles the rest.
Moving money to an external account
You can transfer money from your savings account to any bank account in your name at another institution. This requires you to link the external account first, which usually takes one to two business days. Your bank will verify the account by depositing two small amounts (typically under $1 each) and asking you to confirm the amounts. Once verified, you can transfer money anytime.
Transfers to external accounts use the ACH system and take one to three business days to complete. The money leaves your savings account right away, but it doesn't arrive at the other bank until the ACH batch processes. You can usually schedule transfers in advance or set them up to repeat automatically if you move money regularly.
If you need money faster than ACH allows, use an ATM or branch withdrawal instead. Some banks also offer wire transfers, which move money the same day but usually cost $15 to $30 and require you to visit a branch or call.
What happens to withdrawal limits when you remove an account holder
If you're removing a co-owner from a savings account, the withdrawal limit rules stay the same — they're tied to the account itself, not to who owns it. However, moving the money out first prevents the removed person from being able to withdraw it later if they still have access to the account temporarily.
Some banks require both owners to sign off on removing someone from an account, while others let one owner make the change alone. Check with your bank about their policy. If you're the one being removed and you want to keep your share of the money, ask the remaining owner to transfer your portion to an account in your name before the removal takes effect.
Fees and things that can delay your withdrawal
ATM and branch withdrawals are free at your own bank. Transfers between your own accounts at the same bank are free. Transfers to external banks via ACH are also free, though they take longer. Wire transfers cost money — typically $15 to $30 — and some banks charge a fee if you exceed your monthly withdrawal limit.
Delays can happen if you try to withdraw more than your daily ATM limit, if the receiving bank's system is down, or if you make a transfer late on a Friday (it won't process until Monday). If you're transferring to a new external account, the verification step adds one to two days before you can move money. Large withdrawals sometimes trigger fraud checks, which can delay the transaction by a day.
Frequently Asked Questions
Can I withdraw all the money from my savings account at once?
Yes, you can withdraw your entire balance. However, if you withdraw a large amount in cash at once, your bank may ask questions for fraud prevention. Transferring the money to another account first avoids this. Also check whether closing the account triggers any fees — some banks charge a fee if you close within a certain period.
What's the difference between a withdrawal and a transfer?
A withdrawal removes money as cash from an ATM or teller. A transfer moves money electronically to another account. Withdrawals are when ready but may count against your monthly limit. Transfers don't count against the limit but take longer if they go to another bank.
Why does my bank limit how many times I can withdraw from savings?
Federal rules once capped savings account withdrawals at six per month, though that rule changed in 2020. Many banks kept the limit anyway because it helps them manage their cash flow. Check your account agreement to see what your bank allows.
How long does it take to transfer money to a different bank?
ACH transfers take one to three business days. Wire transfers take the same day but cost money. Weekends and holidays don't count as business days, so a Friday transfer won't arrive until Monday or Tuesday.
What if I need the money before a transfer completes?
Use an ATM withdrawal or visit a branch to get cash when ready. If you need to move money to another bank faster than ACH allows, ask your bank about wire transfer options, though these usually cost $15 to $30.