Getting cash from online bank account

[Tailgate]

I need to withdraw some cash ($1k) to pay for some landscaping done in my yard. My online bank is USAA.. I've only withdrawn the daily maximum from the debit card via ATM...
As I understand (from googling) it is possible to go to any bank and ask for a cash advance on your MC or Visa debit card and they will run it with no fees due. Apparently they will get a fee from USAA. It is suggested that I should avoid confusing the teller with mentioning that the card is a debit card as that may be irrelevant.

Anyone do this successfully?

Here's the link to the google search result explaining this..

 

[Dash man]

Try calling USAA for a one time exception to the limit. You can also withdraw cash from your credit card at an ATM if you recall your pin, or reset to a new one online.


Enjoying life!

 

[braumeister]

Last time I checked, the daily ATM maximum withdrawal was $600, so it would only take two days of that to get your cash.

 

[txtig]

I also bank at USAA and don't have the ability to go into a branch bank to make withdraws. On occasions that I have had to withdraw a large amount of cash, I call USAA and get authorization to increase my daily max ATM withdraw amount. Then, I've made the withdrawals at an ATM, but usually have to go to several ATM's, since they are each subject to a maximum amount on a single transaction.

 

[thefinancebuff]

Just try it. I've done it multiple times at different bank branches from different accounts.

 

[Tailgate]

OP here...just called USAA and they confirmed the advance process from any local bank...that makes it a piece of cake. Max ATM is $600 daily..so either will work for me...thanks...

 

[pb4uski]

Or transfer $1k from your online bank to your local bank and then make a $1k withdrawal after the transfer has posted.

 

[easysurfer]

Or transfer $1k from your online bank to your local bank and then make a $1k withdrawal after the transfer has posted.

+1.

This is what I do. I use my online bank as the main bank but also have transfer ability with a local bank.

Still gotta keep a local bank active as no cash machine for loose change deposits with the online bank .

 

[audreyh1]

I need to withdraw some cash ($1k) to pay for some landscaping done in my yard. My online bank is USAA.. I've only withdrawn the daily maximum from the debit card via ATM...
As I understand (from googling) it is possible to go to any bank and ask for a cash advance on your MC or Visa debit card and they will run it with no fees due. Apparently they will get a fee from USAA. It is suggested that I should avoid confusing the teller with mentioning that the card is a debit card as that may be irrelevant.

Anyone do this successfully?

Here's the link to the google search result explaining this..

Do you have a regular bank? Can't you do an ACH transfer?

That's ultimately how I withdraw cash from my online accounts. I usually have links set up to one or more of my financial institutions, and transfers just take one day for funds to be available. Or you can schedule them.

 

[Tailgate]

Do you have a regular bank? Can't you do an ACH transfer?

That's ultimately how I withdraw cash from my online accounts. I usually have links set up to one or more of my financial institutions, and transfers just take one day for funds to be available. Or you can schedule them.

no local bank... but I just got back from the local brick and mortar bank and did the cash advance from my debit card with no questions asked... no fees. They asked if I had an account with them and when I said I didn't they just asked for my drivers license to make a copy of it....

 

[thefinancebuff]

no local bank... but I just got back from the local brick and mortar bank and did the cash advance from my debit card with no questions asked... no fees. They asked if I had an account with them and when I said I didn't they just asked for my drivers license to make a copy of it....

Yay! See this way you don't need to maintain an account with a local bank and it's instant and free. Much faster than ACH.

 

[Dash man]

I haven't used a local bank in years. Never have a need.


Enjoying life!

 

[gauss]

The ability to do an "over the counter" cash advance against a MC/Visa debit card allows me to keep the majority of my money in out of state accounts. There is no requirement to keep enough money locally (at low rates) to fund any emergency.

This was an issue when my DM was discharged from the hospital to a rehab facility (with private room, television and telephone). They required payment up front. I did not bring a checkbook with me that day but was able to get, I think, $10,000 same day via debit cards from out of state banks and a visit to a local bank branch that displays the Visa/MC logo.

=gauss

 

[UpAnchor]

I haven't used a local bank in years. Never have a need.

Local credit union built a new branch office about 3 blocks from our house a few months ago. I decided to open an account just for the convenience. If for no other reason than to be able to grab a few pristine greenbacks for gifts on the spur of the moment. But agree the need for a local bank becomes less all the time.

 

[audreyh1]

Didn't know about the cash advance trick, but I don't have debit cards on any of my online only accounts.

 

[Sunset]

Yay! See this way you don't need to maintain an account with a local bank and it's instant and free. Much faster than ACH.

I didn't know about that, and not sure if it works for all online banks.
Does it work for large amounts like $5,000 ?

I have online and regular bank, I still like the feeling of walking into a bank.
Even when wearing my sunglasses and baseball hat.

 

[Tailgate]

Didn't know about the cash advance trick, but I don't have debit cards on any of my online only accounts.

A regular credit card works the same.. I think the limit was $1k


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[thefinancebuff]

I didn't know about that, and not sure if it works for all online banks.
Does it work for large amounts like $5,000 ?

It works for all accounts that have a debit card (some pure savings accounts don't have one). Daily limit depends on the specific bank. It's $2,500 per day on one of my accounts.

 

[audreyh1]

A regular credit card works the same.. I think the limit was $1k


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Well I would have to pay the credit card immediately, cause they start charging interest right away.

I can't imagine why I'd do that.

 

[JustCurious]

A regular credit card works the same.. I think the limit was $1k

As pointed out by Audrey1, getting a cash advance from a credit card is different than getting a cash advance from a debit card because in the case of a credit card you start incurring interest from the day that you get the cash, usually at a very high interest rate, whereas with a debit card there is no interest charge.

 

[LOL!]

I suppose it is NOT a cash advance if one uses their debit card since it works like an ATM, right? That is, it is just a simple withdrawal even if you have insufficient funds.

 

[Tailgate]

I suppose it is NOT a cash advance if one uses their debit card since it works like an ATM, right? That is, it is just a simple withdrawal even if you have insufficient funds.

That's what I was told...but my bank said to ask for a 'cash advance' so the teller would understand what transaction you wanted. I think it's just semantics.


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[audreyh1]

I suppose it is NOT a cash advance if one uses their debit card since it works like an ATM, right? That is, it is just a simple withdrawal even if you have insufficient funds.

That's right. It's actually withdrawal.

 

[thefinancebuff]

I suppose it is NOT a cash advance if one uses their debit card since it works like an ATM, right? That is, it is just a simple withdrawal even if you have insufficient funds.

If you have insufficient funds your request will be declined (or optionally be covered by your bank charging you an overdraft fee), just like when you try to buy something with your debit card.