How Much Can a Visa Card Withdraw?
The amount you can withdraw with a Visa card varies significantly based on the specific type of Visa card you hold, the financial institution that issued it, and the currency of withdrawal. Financial institutions set their own daily withdrawal limits for their card products.
For instance, a Visa Platinum Debit Card issued by Fidelity Bank has the following daily ATM cash withdrawal limits:
Daily ATM Cash Withdrawal Limits for Visa Platinum Debit Card (Fidelity Bank)
| Currency | ATM Cash Daily Limit |
|---|---|
| GHS | 20,000 - 60,000 (Maximum) |
| USD | 5,000 |
| GBP | 5,000 |
| EUR | 5,000 |
These limits represent the maximum amount of cash you can withdraw from an ATM within a single day. It's important to note that these are daily limits and reset every 24 hours. Some banks may also have transactional limits (per withdrawal) that are lower than the daily maximum.
Beyond ATM withdrawals, Visa cards also have separate limits for point-of-sale (POS) and online transactions, which are typically much higher than cash withdrawal limits to accommodate larger purchases. For the same Visa Platinum Debit Card from Fidelity Bank, the daily POS/Online limits are GHS 80,000 - 200,000 (Max), USD 20,000, GBP 20,000, and EUR 20,000.
Factors Influencing Withdrawal Limits
Several factors can influence the withdrawal limits on a Visa card:
- Card Type: Different Visa card tiers (e.g., Classic, Gold, Platinum, Infinite) often come with varying benefits and limits. Premium cards usually offer higher limits.
- Issuing Bank: Each bank sets its own policies and limits for the cards it issues.
- Account Type: The type of bank account linked to your Visa card (e.g., savings, current, prestige) might also affect the limits.
- Customer Relationship: Long-standing customers or those with high account balances might be eligible for higher limits upon request.
- Security Measures: Banks implement limits as a security measure to protect against fraud and theft.
To find the exact withdrawal limit for your specific Visa card, it is always best to:
- Check your bank's official website (e.g., Fidelity Bank).
- Review your cardholder agreement or welcome packet.
- Contact your bank's customer service directly.
