Why is my cash not available to withdraw? (2024)

FAQs

Why won't my bank let me take money out? ›

There are a number of issues that could result in a debit card decline. For starters, you could be mistaken about your balance, or you may have reached your daily limit for withdrawals. The bank may feel the transaction is suspicious, based on your purchase history. Technical issues may also be to blame.

Technical: The ATM may be faulty. Usually, as a part of normal procedure, banks check their machines at regular intervals. All the complaints received due to technical reasons are resolved soon after. So your money should be auto-credited to your account and you will be notified of the same by the bank.

When you sell funds, you'll need to wait for the trade to settle before you can withdraw the cash. This normally happens 2 to 4 working days after submitting your instruction.

If other trading activity is taking place within the portfolio on the day of a deposit, it will take an additional day for the funds to buy into your model portfolio. However, the money is not generally available for withdrawal for 4 to 6 business days.

The bottom line. It's important to recognize that banks, credit unions and ATMs place limits on the amount of cash you can access at any given time. Even if you don't withdraw money regularly, you don't want to be unnecessarily inconvenienced when you need a large sum of cash.

Savings accounts may have monthly transaction limits per federal rule Regulation D, which stated that banks must penalize consumers for withdrawing from savings more than six times per month.

As per the updated regulations from the RBI (Reserve Bank of India), with effect from 1st January 2022, users of most banks can withdraw cash from ATM five times per month. These five transactions are inclusive of both financial and non-financial (balance inquiry, mini statements etc.)

It means that the ATM network is not capable of reaching the computer systems from the bank that issued your card. What happens from there depends on the policies of the network and bank, but usually your card is not going to be able to access any funds.

You can directly approach your bank or its branch and submit a written application, requesting an automatic unblock of the ATM card. To verify your identity as the card's user, you must submit ID and address proof. Once these details are verified, the bank will unblock your card.