From: "Qintin" 
Newsgroups: uk.finance
Subject: Re: ATM limits.
Date: Tue, 25 May 2004 17:53:00 +0100


"Chris Blunt"  wrote in message
news:61b6b0haapgfb24gucdah4bipf09anv4sq@4ax.com...
> On Mon, 24 May 2004 22:35:11 +0100, "Mark BR" 
> wrote:
>
> >
> >"Alec"  wrote in message
> >news:40b1b383$0$25329$cc9e4d1f@news-text.dial.pipex.com...
> >>
> >> "Qintin"  wrote in message
> >> news:c8rvef$d3c$1@news5.svr.pol.co.uk...
> >> > I was wondering what the maximum amount that can be taken out of UK
> >ATM's
> >> > is?
> >> >
> >> > Presumably it is dependent upon:
> >> > a) the debit/credit card.
> >> > b) the ATM - in terms of how much the machine can hold; and how much
it
> >> > allows the individual to withdraw.
> >> >
> >> > So, in theory if the card had a limit of 10K per day, would this work
in
> >> > practice?
> >> >
> >> All machines have a withdrawal limit set by whoever own and operate
them.
> >If
> >> per- use limit is lower than your daily limit set by your card issuer,
you
> >> can usually make multiple withdrawals. If a particular ATM won't let
you
> >do
> >> this, just use another machine belonging to someone else.
> >> >
> >> > And would the same concept be true in the EU (bearing in mind the
much
> >> > higher denomination euro notes would mean the machine would have to
> >carry
> >> > less physical cash - 200 and 500 euro notes exist).   Then again, how
> >may
> >> > machines would carry 500 euro notes?
> >> >
> >> In my experience, ATMs don't hold notes bigger than 100, sometimes 50
> >euro.
> >> 500 euro notes are rarely seen and used. Withdrawal limit is similar to
> >UK,
> >> sometimes lower.
> >> >
> >> > Does anyone have any knowledge of ATM cards with high limits (not
> >> > necessarily offered by UK institutions).
> >> >
> >> Well, in Japan, where most ATMs don't accept non-Japanese cards, it's
not
> >> unusual to have a daily withdrawal limit as high as 5 million yen
> >(£25,000)
> >> from your own bank machines. It's a very safe country :-)
> >>
> >> Alec
> >> > TIA.
> >> >
> >
> >There is a limit to the number of notes an ATM can dispense, in many
cases a
> >maximum of 25 notes. That limits you to £500 in the UK unless £50 notes
are
> >issued.
>
> A maximum of  25 notes is a good rule of thumb to assume for an ATM.
> The maximum I have seen is 40 notes, which many HSBC machines seem
> able to dispense.
>

This is all very interesting.  I assume the 25 and 40 figures above are
based upon the bank's policies.  Any idea why they would chose such amounts?

I guess that few £50 notes are dispensed anyhow - shops do not seem to want
them and I have never really (if ever) seem them in circulation?

As for these limits - let us say one was super rich and had a £10K per day
limit on his Monte Carlo Platinum ATM card, and the local NatWest only
allowed 25 notes at £20, could the guy just keep sticking his card in and
getting another £500 each time?

Because, might not the machine be programmed to say:
a) this guy is taking all the cash, other customer's need some, let's stop
his card - in other words a programme that says once X has been taken out,
then no more?

[Of course, I have no idea how much ATM's actually contain so don't know if
this is a viable situation.]

b) this seems very suspicious, like someone's card and PIN have just been
stolen - in other words the programme says that such behaviour will block
the card and prevent it from taking more cash out?

[Or would the machine only care if the PIN was wrong and/or the card was
reported lost or stolen.]

TIA.