Thursday, February 23, 2023

Alliant ATM Withdrawal Limits and All You Need to Know

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Frequently than not, you find yourself short of cash. That leaves you with no other option than to run to the nearest ATM. Alliant ATM offers various ATM withdrawal limits depending on few factors.

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The most chronic issues that people face at an ATM are when there is a transaction error due to exceeding the daily withdrawal limit and going to the bank. Alliant is an online credit union, and its members have access to various online and banking options. Here are the ATM withdrawal limits for Alliant members and other information you need to know. Knowing the data will make banking at Alliant easier and more efficient.

What is the limit for withdrawals at an Alliant ATM?

Banks and Credit Unions set different limits on the amount a person can withdraw in a day, depending on their policies. For example, Alliant members have a daily ATM withdrawal restriction of $1000 for adult accounts and $100 for teen accounts. These amounts may leave someone wondering why there are such limits to withdrawing money from an ATM. After all, if they have money in the account, one may think, “Why can I not withdraw the amount I need?”

Why is there a Limit on Withdrawal Amounts?

An ATM can only hold a certain amount of cash at a given moment. Therefore, banks need to be able to control the flow of money available within an ATM. To do so, imposing such withdrawal limits is inevitable. ATM thefts are also not a foreign concept to the people. For example, if anyone steals a person’s debit card pin, the withdrawal limit would prevent your bank account from being emptied. Therefore, withdrawal limits on ATMs are a means of protecting the members’ accounts. Thus arises the question of possibilities to increase or change one’s withdrawal limit.

Can you increase the withdrawal limit?

Depending on how long you were a customer, ATM withdrawal limits for Alliant can vary. However, most Alliant Members who stay with the company for a long time have limits up to $2000. For teenagers turning 18 years old, the account will automatically be upgraded to a regular Alliant Checking Account, and a new card will be delivered. You should activate the card as soon as possible. In addition, the spending and withdrawal limit will be increased from $100 to regular checking account limits of $1000. Bank set the ATMs to reset the withdrawal limit at midnight of the calendar day. Therefore, one can make two transactions before and after midnight to make a withdrawal more significant than $1000. This is not the same as increasing the limit. It is just one way to take out more money at the ATM.

How do you know if you have reached your daily withdrawal limit?

When the most dreaded error message saying “Card Declined” or “Transaction Error” shows up on the screen, even though you are very sure you have money in your account. It is most probably due to reaching your daily withdrawal limit. This is also possible due to various other reasons such as;

  • The ATM is out of cash.
  • Not having sufficient money in the withdrawer’s account
  • Reaching the minimum balance.

Knowing the different types of accounts and cards can help you understand how withdrawal limits work. In addition, this information can help you plan and coordinate your withdrawals accordingly.

What are the different types of accounts for Alliant members

alliant atm withdrawal limit

Savings Account

With an initial deposit of just $5, one can open a high rate savings account and make deposits or withdrawals in ATMs nationwide. As there is no minimum balance limit, you can withdraw all of your cash. Therefore, you only need to worry about the daily withdrawal limit if you start from an ATM.

Checking Account

You can use your debit card to make withdrawals. Moreover, there is no monthly fee or minimum balance requirement. Therefore withdrawals from over 80,000 fee-free ATMs are possible.

Teen Checking Account

The member between the ages of 13 and 17 are eligible with joint ownership of parents. (the joint account owner must be a member of Alliant). Also, there is no need for any minimum balance.

Types of Cards

There are three types of cards Alliant members can get to carry out transactions from ATMs.

ATM Cards

An Alliant Savings ATM Card is a form of EMV chip card. You can use this card to access funds in your Alliant savings account. Bank issues Alliant Savings ATM cards are only to members who do not have an Alliant checking account debit card. The company provides members with a card to withdraw funds from its network of ATMs. However, you cannot use this card like a regular debit card for purchases or payments.

Debit Cards

If you are already an Alliant checking account holder, you can order for contactless online banking or mobile phone app. In addition, you can use the Alliant Visa debit card to access both the saving account and the checking account, and you can use it internationally as well. Furthermore, Bank will deduct funds from your checking account balance when you use your debit card to pay for goods or services. Moreover, new Alliant Visa debit cards will automatically shut down if you do not activate them within 90 days for security purposes.

Credit Card

Members can choose between Alliant Visa® Platinum, Alliant Visa® Platinum Rewards, and Alliant Cashback Visa Signature credit cards. Those seeking a regular credit card can open a checking account, which can be linked to savings online, and apply for the Alliant Visa Debit Card. An Alliant Visa credit card has enhanced security and is very flexible for payments around the globe. However, the credit limit of a card depends on the members and various other factors.

Do ATM charges and service charges add up to the daily withdrawal limit?

Banks usually charge a monthly fee when your balance is under a certain amount. In addition, most banks charge an ATM fee if customers use ATMs out of their network. This is because a bank considers an “in-network” ATM to be owned by them or third-party ATMs that subscribe to them.

Surcharge-free ATMs

Alliant has more than 80,000 surcharge-free ATMs located across the U.S, in which one can make their deposits or withdrawals. Alliant does not charge monthly fees. If an Alliant member uses a network ATM and charges a fee, Alliant will rebate the fee up to $20 per month. ATM withdrawal limits for Alliant is $1000 in cash daily, from either their checking or savings accounts. This creates no worries about extra charges affecting their daily withdrawal limit. Also, please read about the American Express Platinum card & its great features!

What are Rebates? How do you get them?

In most cases, banks reimburse the ATM fees charged at the end of a statement cycle, mainly at the end of the month, by crediting the customer’s account with the total amount the customer was charged in that cycle; these are known as Rebates. For example, when using your Alliant checking account Visa debit card to deposit, withdraw, transfer or check your balance, Alliant will reimburse each member account for up to $20 per month in ATM fees. Alliant also rebates up to $20 when ATM fees are charged for using out-of-network ATMs. Refunds do not apply to Alliant Visa credit card cash withdrawn via ATM or the Alliant Savings ATM Card and Visa International Service Assessment (ISA) fee. Rebates will be deposited within a business day, unlike other banks that only deposit rebates at the end of the month. Consequently, you will be making money instead of losing money!

How about withdrawals when traveling internationally?

alliant atm withdrawal limit

The Alliant Visa debit card can be used internationally, even in foreign countries; Alliant can reimburse up to $20 per month for out-of-network ATM fees. Alliant also does not charge a foreign transaction fee, although Visa will charge you 1% for their international service assessment fee for foreign transactions, which is far less than the 3% charged by other banks. Here are some facts to consider when traveling abroad.

Notify the card issuer about your travel plans

To avoid the hassle of extra charges or transactions not going through. However, the fraud alert may be activated in some instances if you use your card without notifying the bank because they might assume your card was stolen!

Conduct card transactions in local currency

When making purchases or payments, carry out the transaction in local currency to enjoy accurate currency conversion rates and avoid extra charges. Even when using an ATM in a foreign country, always choose to be charged without a conversion. Although it is a hassle to calculate the conversion, conducting transactions in local currency is safer than paying in dollars. However, there could be errors in conversion rates as merchants can have different charge rates when charging you for their services.

Exchange rate for foreign local-currency

The exchange rate charged when purchasing in local foreign currency with your Alliant Visa credit and debit card is the exchange rate on the day of the charge, 35 days after the actual purchase. Using a card for purchases and expenses is the best way to send money abroad within ATM withdrawal limits for Alliant. It is safer than carrying a wallet full of local currencies, and you can avoid the hassle of locating the nearest ATM and making regular trips to withdraw money. This also helps avoid unnecessary ATM and service charges. In addition, Alliant members will only face up to one or two percent charges for Visa International Service Assessment (ISA) Fee.

Additional transaction fees

Alliant’s Visa Platinum credit cards and Visa debit cards do not add additional transaction fees on top of the Visa ISA fee. Nevertheless, the Visa ISA fee is added to every international transaction. Visa ISA fees are not added to international transactions made with the Alliant Visa Signature card. Even though card transactions are recommended on an international trip, cash transactions are not entirely avoidable. Therefore, locating the nearest Visa ATMs is a good move and handy when making a cash withdrawal. As Alliant rebates ATM fees charged up to $20 daily, don’t worry about the extra charges!

Travel notifications

The travel notifications can be done by the Alliant online banking or the Alliant mobile app, or simply by a call. Just notify them about where you are visiting and how long you plan to stay and enjoy your trip without any trouble with your transactions.

What other possible reasons for your card not to work?

The card would not work if you entered the wrong PIN, or if the bank did not activate your card or even it got expired! If the bank feels like someone other than the owner is using the card, the card usually gets flagged. This is due to bank-side security measures in identifying it as a suspicious activity. Bank flagged the card if you use the card in another ATM far from your usual routine. So as I mentioned, always provide travel notifications to their bank early as possible.

What if the card declined?

Just contact your card issuer and look for the potential problem, they will surely give you a solution including,

  • Resetting the PIN
  • Activating your card
  • Reporting a lost or a stolen card and ordering a replacement card

All these can be done through online banking or the mobile app. These are a few details that can help you avoid panicking when a transaction does not go through or if your card gets declined. There is no need to be stressing over your minimum balance because now you know what to do. To further increase the daily ATM withdrawal limits for Alliant, please visit the Alliant website. Also, you can get their support services details here. Contact via the number on the back of your credit card to talk with a friendly Alliant member service representative who will then help you virtually on every aspect of your card membership (including technical assistance).

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