Say I want to withdraw/deposit cash above my ATM limit (say, $7,000) from my bank account instantly.

In a brick-and-mortar bank, it's no problem: you walk in and the bank teller does that for you.
If you're depositing cash, the money is available immediately.
If you're withdrawing, it's deducted from your balance immediately and you get the cash right there.

But what about online banks? Is there any way to get around that, or is this a fundamental limitation?
What are your options if it ever comes to the point where you need a lot of cash immediately?
(I suppose I mean options that involve little to no fees, so e.g. credit card cash advance doesn't count.)

  • 2
    Can you write checks? You could keep an account at a local bank that would cash a check from the online bank.
    – D Stanley
    Mar 28, 2017 at 14:49
  • @DStanley: That's a good idea, though you'd have to be prepared for it by getting blank checks first. Usually people don't bother getting checks for their savings accounts I think.
    – user541686
    Mar 28, 2017 at 18:18
  • What about online transfers? Can you make an online transfer to a local bank and withdraw the cash?
    – D Stanley
    Mar 28, 2017 at 19:54
  • @DStanley: instantly?
    – user541686
    Mar 28, 2017 at 20:29
  • Depends on the banks. Some may require a 3-day settlement period. You're asking a general question that does not have a general answer.
    – D Stanley
    Mar 28, 2017 at 20:30

1 Answer 1


Let's say you bank with Ally bank - one of the largest online banks in the US. First, find out what your daily purchase limit is on your debit card, for Ally bank it is $5000, but you can call them and request a one-time extension. Then:

You walk into a bank, any bank or credit union; you don’t need an account there. You tell the teller:

“I’d like to take a cash advance against my Visa card.” (or MasterCard, if your debit card is a MasterCard)"

Don’t mention it’s a debit card. You will only confuse them. As long as the card carries a Visa or MasterCard logo, they will do it the same way whether it’s credit or debit. They will ask for your ID. Then they will run your card on a terminal. It’s very similar to how you swipe your card when you buy something at a store. You sign the slip before they give you the cash.

You can think of a cash advance as buying cash.

  • +1 is there a fee for a cash advance against your debit card?
    – user541686
    Mar 28, 2017 at 18:16
  • 1
    @Mehrdad According to the article "The bank doesn’t charge you a fee just as a store doesn’t charge you a fee when you buy stuff."
    – Michael
    Mar 28, 2017 at 19:06
  • @MichaelC. Some stores do pass through credit card fees (often through a "cash discount"). Most don't, since that would discourage credit card use, and credit card users tend to spend more. I don't know if banks pass through the service charge or not.
    – D Stanley
    Mar 28, 2017 at 19:57

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