ATM Limits - £300 & 3 withdrawals a day


#1

What is the reason for the 3 withdrawals a day limit for ATM transactions?

This is putting me off Starling a bit, I don’t really understand why this is in place? It’s not likely I’d want to withdraw from an ATM more than 3 times in a day - but at the same time I don’t want to be restricted in accessing my own funds.

Is there any plan to get rid of this restriction?


ATM Limit - Set in the App?
Can you withdraw money other than via an ATM?
#2

I highly suspect this is a cost issue as the other challenger banks also have limits on this. The big banks may be able to negate the costs through leveraging their own ATM network; I have no idea how the big banks charge each other for ATM usage.

In the US, ATM charges are extremely common and they are usually passed on to the customer by the bank. The UK is fairly unique with (mostly) free banking.


#3

Don’t know for sure but i would expect that cost is a factor.

I believe ATM withdrawals are relatively costly to banks - and this is one of many things that legacy banks absorb into their bank accounts by way of poorer benefits elsewhere e.g. Poor overdraft interest and charges / lack of interest on credit balances etc etc


#4

I figured it was a cost thing. There can’t be that many people who make loads and loads of ATM withdrawals a day though. Specially not amongst Starling’s target demographic.

It’s kind of a principle - I don’t like the idea of a restriction.


#5

I agree the hard limit isn’t great especially if you get caught out by it. I think I would prefer if they said something along the lines of “the first 3 ATM withdrawals are free, beyond this there is a 25p charge per withdrawal”. I’m not sure what the cost should be, but it should simply be the costs passed on to the customer, not a way to make money.

What do you think about that option?


#6

I’d be happy even if withdrawals beyond first 3 had a charge of £10.
I need to know I can get access to cash IF something happens, even if that means a high cost to bear.


#7

I’d be OK with a small charge after the first 3.

This seems odd, specially for a bank with no branches. I think if Starling is to be a successful stand alone bank then little things like this matter.

I just can’t see loads of people massively hammering cash machines enough for it to matter - the bad impression that having this restriction in place gives I think is more important and does more damage surely? It makes you think they’re not quite up to it.

(Along with big things like the use of that GPS company - which to me, makes it feel like a half bank/pre-paid card still. I never figured that a full bank would use a third party to process payments. I wish they’d announce that they aim to take this in-house in the future. )


#8

I’d be happier if it was the first x per month are free then y cost. I would actually be ok with 20-30 free and £1 each afterwards


#9

That would also do me.

The first time I’ve used an ATM in several years was yesterday - I was on the way back from Swanage for work and I thought it would be faster to get the chain ferry across to Poole rather than drive round (big mistake), they only accept cash so I got a tenner out.

Before that I literally hadn’t handled any cash at all for probably over a year.

But I want to know that if I decide to go to the cash machine and withdraw all my money £10 at a time, then I can.

Also yesterday - I logged on to the B app to look at my direct debits, upon tapping on the ‘payments’ option to view them, the app crashed. So (although I actually like the B account and think it’s really good) I thought, ‘right, I’m going to do it’ [switch to Starling].

Then saw the payment outage thing - then decided to look up to see if the 3 withdrawals a day thing I’d heard a while back was true - then thought, ‘Nah’.

(Still can’t view the direct debits screen in the B app by the way - it crashes when you select it! First problem I’ve had with B)


#10

O_o where can I find information about limits ? Thanks


#11

@Mogolent there is an FAQ section on our website: https://www.starlingbank.com/faq/


#12

It would be good if those limits where reflected in-app, especially since there is already an “ATM withdrawals” section under “Fees and limits”, without any mention of the withdrawal limit.


#13

Is this (ATM limits) some Starling are looking at options for, or is it unlikely to change ?


#14

Hello, Our ATM withdrawal limits of £300 per day or 3 withdrawals are put in place to prevent or reduce the impact should you or your card be compromised for any reason –
so it’s there to help and protect you account. It is not for a cost reason and we don’t have any plans to charge our customers for ATM withdrawals. Based on your experiences - and the suggestion that 3 might be too low - I am discussing these thresholds with our team here and will update you on any changes applied.


Foreign ATM Withdrawals
#15

If it’s a security thing, could we have X (say three) withdrawals a day. When the limit is reached we get a notification, and the option to unlock another X by going into app and using password (same level of security as pin).


#17

Hi all, Just an update on this – we have increased the number of ATM withdrawals from 3 to 6 based on your feedback.


#18

Another really good development :grinning:


#19

is that 6 withdrawals of any amount, so say for example you take £10 each time 6 times, then that would be £60 and you cant withdraw for the rest of that day eventhough you have not reached the maximum £300 withdrawal limit for the day?

Or is it £300 withdrawals max whether thats through 1 withdrawal or 6 withdrawals in total?


#20

I assume it’s 6 withdrawals OR £300 limit - whichever you reach first.

So, if you take 6x£10 out - that’s your limit. Or if you take 3x£100 out - that’s your limit.

Personally - I’m down to around £10 a week cash now. Tried to get it down to zero withdrawals - but the buses around here have a terrible mobile phone app which makes it far more difficult to use that to pay a bus ticket than just give the driver cash. Wish I lived in London…


#21

We actually have contactless payments on one of the bus companies up here is Sheffield so havent taken cash out for a month a half :slight_smile: