The fastest way to withdraw from your savings account
You can withdraw money from your Bank of America savings account at an ATM, in person at a branch, by phone, or through a transfer to a checking account. ATMs are the quickest option if you need cash when ready—you can use any Bank of America ATM or a network ATM (usually without a fee at partner banks). In-person withdrawals at a branch take a few minutes and work for any amount. Phone withdrawals are limited to transfers into another account you own, not cash withdrawals.
The method you choose depends on how much you need, how fast you need it, and whether you want cash or a bank transfer. Each route has different limits and takes different amounts of time.
Key Takeaways
- ATM withdrawals are when ready but limited to your daily withdrawal limit, which varies by account type and can be increased by calling Bank of America.
- In-person branch withdrawals have no daily limit and work for any amount, but you need to visit during business hours with a valid ID.
- Transfers from savings to checking happen within minutes online or by phone and let you move larger amounts without visiting a branch.
- Bank of America charges no fee for withdrawals from your own savings account through any method.
- Some ATM networks charge a fee if you use an out-of-network machine, so check whether the ATM is Bank of America or a partner bank before you withdraw.
Withdrawing cash at an ATM
Insert your debit card, enter your PIN, select "Withdrawal," choose your savings account, and enter the amount. The ATM will dispense cash and show your new balance. This takes less than a minute and works 24/7. You can use any Bank of America ATM without a fee, and you can also use ATMs at partner banks in the Allpoint network, MoneyPass, and CO-OP networks without paying a fee.
Your daily ATM withdrawal limit is usually $500 to $1,000, depending on your account type and history with Bank of America. If you need more than your limit allows, you can request a higher limit by calling Bank of America customer service at 1-800-432-1000. The bank may increase your limit within one business day, though approval is not may provide. If you use an ATM outside Bank of America's network and partner banks, you will pay a fee (usually $2 to $3) charged by the other bank, plus a possible fee from Bank of America depending on your account.
Withdrawing cash in person at a branch
Walk into any Bank of America branch during business hours with your debit card and a valid ID (driver's license, passport, or state ID). Tell the teller you want to withdraw from your savings account and give them the amount. They will process the withdrawal and hand you cash. This takes about 5 to 10 minutes and has no daily limit—you can withdraw as much as the branch has on hand.
Branch hours vary by location but are typically Monday through Friday 9 a.m. to 5 p.m., with some branches open Saturday mornings. You can find your nearest branch and its hours on the Bank of America website or by calling 1-800-432-1000. If you need a very large withdrawal (over $10,000), some branches may ask you to call ahead so they can have enough cash available. Withdrawals in person are free and show in your account when ready.
Transferring money from savings to checking online or by phone
Log into your Bank of America online banking account, go to "Transfers," select your savings account as the source and your checking account as the destination, enter the amount, and confirm. The transfer completes within minutes and the money appears in your checking account right away. You can then withdraw that money from your checking account using an ATM or debit card.
If you do not have online access, call Bank of America at 1-800-432-1000 and a representative will transfer the money over the phone. Transfers between your own accounts are free and when ready. This method is useful if you need more than your ATM daily limit, because once the money is in checking, you can withdraw it from an ATM without the savings account limit explore. You can also use your debit card to make purchases directly from checking without needing cash.
Understanding your daily withdrawal limits
Bank of America sets a daily ATM withdrawal limit to protect your account from fraud. The standard limit is $500 to $1,000 per day, though the exact amount depends on your account type, how long you have been a customer, and your account history. This limit resets at midnight each day. If you withdraw $500 on Monday, you can withdraw another $500 on Tuesday.
The daily limit applies only to ATM withdrawals, not to in-person branch withdrawals or transfers to your checking account. If you need to withdraw more than your limit, use a branch or transfer the money to checking first. You can request a temporary or permanent increase to your limit by calling 1-800-432-1000. Bank of America will review your request and may approve an increase within one business day, though they may ask questions about why you need the higher limit.
Fees and charges for savings withdrawals
Bank of America charges no fee for withdrawing money from your own savings account, regardless of the method. You will not pay a fee for ATM withdrawals at Bank of America machines, branch withdrawals, or transfers to your checking account. However, if you use an ATM that is not part of Bank of America or its partner networks, the other bank may charge you a fee of $2 to $3. Bank of America may also charge you a small fee (usually $1 to $3) for using an out-of-network ATM, depending on your account type.
To avoid out-of-network fees, use Bank of America ATMs or machines in the Allpoint, MoneyPass, or CO-OP networks. You can find participating ATMs on the Bank of America website or by searching "ATM near me" in the mobile app. If you are charged a fee by mistake, you can contact Bank of America customer service and ask for a reversal.
Frequently Asked Questions
Can I withdraw money from my savings account using my debit card?
No, debit cards are linked to checking accounts, not savings accounts. You can use your debit card to withdraw from checking, but to access savings you need to use an ATM with your PIN, visit a branch, or transfer money to checking first. Once the money is in checking, you can use your debit card to withdraw it.
What happens if I exceed my daily ATM withdrawal limit?
The ATM will decline the transaction and tell you that you have reached your daily limit. You can try again the next day, or you can visit a branch to withdraw cash without a limit, or transfer money to your checking account and withdraw from there instead.
How long does it take to transfer money from savings to checking?
Transfers between your own Bank of America accounts happen when ready online or by phone. The money appears in your checking account within minutes and is available to withdraw or spend right away.
Do I need to visit a specific branch to withdraw from my savings account?
No, you can visit any Bank of America branch and withdraw from your savings account as long as you have your debit card and a valid ID. The teller can access your account from any branch location.
What should I do if an ATM keeps rejecting my withdrawal?
Check that you are entering the correct PIN and that you have not exceeded your daily limit. If the ATM is still rejecting the transaction, try a different ATM or visit a branch. If the problem continues, call Bank of America at 1-800-432-1000 to report the issue and ask about your account status.