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Email this11:59 am
June 8, 2020
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First, here are some thoughts. At the end of my post, I have some questions for you.
Background information
I just received my Motive debit card today. My daily ATM withdrawal limit is $500. My daily debit-purchase limit is $2,500.
Once every few months, I might need to withdraw about $1000–$2000 of cash. I prefer $50 bills. Due to the pandemic, I prefer outdoor ATMs. If I must go out of my way to visit an outdoor ATM with $50 bills, I'd rather not do so repeatedly.
I phoned and asked Motive if they could raise my ATM withdrawal limit, even just to $600. They politely refused.
I admit that there are good reasons why banks have ATM withdrawal limits; this US article explains the reasons.
Possible workarounds
I suppose that the following workarounds might work:
Questions for you
A) If Motive had branches and tellers, I could understand the reason for having a strict ATM withdrawal limit. But does it really make sense for a branchless bank to have an unchangeable $500 ATM withdrawal limit?
B) Do any other branchless banks have limits as strict as Motive's? (If I recall correctly, my limit with Simplii is $1,000. My limit with Tangerine is $1,200. Both banks will let me increase my limit temporarily, upon request.)
Thank you for reading this!
4:29 pm
October 21, 2013
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It doesn't really matter what their competitors do. Motive is entitled to make its own rules. You've asked and they've given you their answer. I wouldn't waste any more time trying to get them to change it.
You might succeed with some of your additional measures, but these might also set off algorithmic alarm bells for "unusual acitvity", which could cause them to de-activate your card.
If you don't like the way they do business, take your business elsewhere.
We have all been inconvenienced by covid. If I had your problem, I would consider it very minor and would just adapt.
I liked the way you laid out your problem. It was easy to follow.
12:04 pm
December 12, 2009
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There are three issues at play here.
1) Yes, Motive Financial likely has set your card to have a $500/per day domestic ATM cash withdrawal limit;
2) Motive Financial may have also set a $500/per transaction ATM cash withdrawal limit that applies, likely, to all customers; and,
3) The ATM owner has likely imposed a maximum $500/per transaction limit that applies to either all customers or customers of other financial institutions.
The first and second points are valid problems for branchless financial institutions, and it's too bad this can't be changed, at least to a $1,000 ATM cash withdrawal limit. If it's a joint account, you and your spouse should have separate ATM cash withdrawal limits, for what it's worth. This is something worth investigating when choosing a branchless financial institution, especially if that's an important consideration (i.e., you use ATMs frequently).
Regarding your second question, yes, Simplii, Tangerine, and HSBC, as far as I'm aware, all have different ATM cash withdrawal limits that can be set. Most arguably do, but again, this is worth asking before asking opening an account, I think.
I echo Loonie's compliment above. Well organized problem, workaround possibilities, and questions of your OP. 
Cheers,
Doug
1:21 am
January 10, 2021
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what is the atm withdrawal limit for international atm withdrawals? is it still 500$ cad? Does it depend on size of the account? Also can this card which does not have the visa symbol be used for international purchases or via google pay?
3:00 pm
February 17, 2013
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Cash....I remember that. Rectangular things with numbers and pictures. They still make those?
3:56 pm
December 4, 2016
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I use Coast Capital to withdraw 1000 dollars at a time from a ATM. There is also an ATM near me that gives 50-dollar bills.
I found the ATM that gives 50 dollars by searching on the web. Also check if the ATM has a limit.
Each bank is different. I know Vancity has a 600-dollar limit. Implicity bank 400-dollar limit.
You can also use multiple bank cards, one after another. Try to do this when no one is waiting in line behind you. Usually, the mornings are quite around the ATMs.
I used to bank with Motive. I found their service to be not great.
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