Yes, you can withdraw money from your Chase savings account, but there are limits on how often you can do it
You can take money out of a Chase savings account at any time — there is no rule stopping you from accessing your own money. However, federal rules limit how many withdrawals (money taken out) you can make each month. Chase savings accounts typically allow six withdrawals per month before fees or restrictions kick in. If you go over that number, Chase may charge you a fee, reduce your interest rate, or convert your account to a checking account.
The six-withdrawal limit applies to transfers and automatic payments, not just trips to the ATM or the bank branch. A withdrawal counts whether you move money online to another bank, set up an automatic payment, or ask a teller to hand you cash. ATM withdrawals usually do not count toward this limit — only transfers out of the account do.
This limit exists because federal banking rules treat savings accounts differently from checking accounts. A savings account is meant to encourage you to keep money set aside rather than spend it constantly. If you find yourself hitting the withdrawal limit regularly, a checking account or a money market account might fit your needs better.
Key Takeaways
- Chase savings accounts allow six transfers or withdrawals per month before fees or account changes occur.
- ATM withdrawals do not count toward the monthly limit, only transfers to other accounts or automatic payments do.
- Going over the limit may result in a fee, a lower interest rate, or your account being converted to checking.
- If you need to move money out frequently, ask Chase about a checking account or money market account instead.
How to withdraw money at a Chase branch or ATM
The simplest way to get cash is to visit a Chase branch during business hours and ask a teller to withdraw money from your savings account. Bring your debit card or account number, and the teller will count out the cash and update your balance on the spot. This method does not count toward your six-withdrawal limit because you are taking out physical cash, not transferring money electronically.
You can also use a Chase ATM to withdraw cash 24 hours a day. Insert your debit card, enter your PIN, select "Withdrawal," choose your savings account, and enter the amount. ATM withdrawals also do not count toward the monthly transfer limit. Chase ATMs are in most Chase branches and many grocery stores and pharmacies — you can find the nearest one on the Chase website or mobile app.
If you need more cash than the ATM allows in a single transaction (usually $500 to $1,000 per day, depending on your account history), visit a branch in person. Tellers can withdraw larger amounts and have fewer daily limits than machines.
How to transfer money out of your savings account online
To move money from your Chase savings account to another bank or to a Chase checking account, log into Chase.com or the Chase mobile app. Select your savings account, then look for "Transfer Money" or "Send Money." Choose whether you are sending to an account at Chase or at a different bank.
If the other bank is also connected to the real-time payment network (which most large banks are), the money usually arrives within minutes or hours. If it is a smaller bank or credit union, the transfer may take one to three business days. Each transfer counts as one withdrawal toward your six-per-month limit.
You can also set up automatic transfers — for example, moving $100 to a checking account every payday. Each automatic transfer counts as one withdrawal. If you set up four automatic transfers per month, you have only two manual transfers left before hitting the limit.
What happens if you exceed the withdrawal limit
If you make more than six transfers in a month, Chase will typically charge you a fee of $10 per excess transfer. This fee comes out of your savings account balance. Some Chase savings accounts have different limits or fee structures, so check your account agreement or call Chase at 1-800-935-9935 to confirm your specific terms.
In some cases, instead of charging a fee, Chase may lower the interest rate on your account for that month or the next one. This means you earn less money on the balance you keep in savings. Over time, repeated excess withdrawals can result in your account being reclassified as a checking account, which has no withdrawal limits but may have different fees or no interest earned.
The easiest way to avoid fees is to plan ahead. If you know you need to move money out more than six times a month, contact Chase and ask about switching to a checking account or a money market account, both of which have fewer or no withdrawal restrictions.
Transfers between your own Chase accounts
Moving money between your own Chase accounts — from savings to checking, for example — counts as a withdrawal from the savings account. If you do this more than six times in a month, you will face the same fees or restrictions as any other transfer.
However, you can move money between your own accounts as many times as you want using a Chase ATM or by visiting a branch in person and asking a teller to do it. Only electronic transfers through the app or website count toward the limit. If you regularly move money between accounts, ask a teller about the best way to do it without hitting the withdrawal cap.
Frequently Asked Questions
Do ATM withdrawals count toward the six-withdrawal limit?
No. Only transfers to other accounts or automatic payments count. You can withdraw cash from a Chase ATM as many times as you want each month without affecting your limit.
What if I need to withdraw more than six times a month?
You will likely face a fee of around $10 per excess transfer. Consider switching to a checking account, which has no transfer limits, or a money market account. Call Chase at 1-800-935-9935 to discuss your options.
Can I withdraw money from my savings account the same day I deposit it?
Yes. There is no waiting period to withdraw money you just deposited. However, the withdrawal still counts toward your monthly limit if it is a transfer to another account.
Does paying a bill online from my savings account count as a withdrawal?
Yes. If you set up an automatic bill payment from your savings account, each payment counts as one withdrawal. If you pay bills this way, keep track of how many payments you have scheduled to avoid exceeding the limit.
What is the daily ATM withdrawal limit at Chase?
Most Chase ATMs allow withdrawals of $500 to $1,000 per day, though this varies based on your account history and how long you have been a customer. If you need more, visit a branch and speak to a teller, who can withdraw larger amounts.