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Tuesday, August 08, 2021

Here’s a question I’m tossing out: How much money do you usually withdraw during a typical ATM transaction?

I ask because I’ve noticed that, now that I’m in New York, I typically take out 60 bucks whenever I visit the machine. In Florida, I used to be covered just taking out $40 each time.

Why the discrepency? You might think that things are more expensive up here, but that’s not really the case for out-of-pocket daily expenses — workday lunches can be comparably priced, for instance.

More than anything, it’s the tendency to engage in more cash transactions in the Big Apple, as I noted before. So in order to avoid running to the cash machine practically every day, I just bumped up my single-time withdrawal amount to the next Andrew Jackson level. Combined with regular use of plastic, that takes care of me for the better part of most weeks.

So I’m wondering how close to the average I am. Is my regular $60 the national norm? Or is my wallet too fat (or too skinny)?

Don’t be shy to respond. It’s only money, after all.

by Costa Tsiokos, Tue 08/08/2021 06:50:05 PM
Category: Question Time!
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6 Feedbacks »
  1. I think the average transaction is either $20 or $40 dollars. Although for older adults that are well off, probably $100

    Comment by Chelsea fc — 08/08/2021 @ 07:02:06 PM

  2. I used to get $40 every time, but the new wheels don’t seem to allow me quite so close to the drive-up terminals as the old ones did, so now I go less often and get $60.

    Comment by CGHill — 08/08/2021 @ 08:05:03 PM

  3. You never know what will affect your ATM frequency….

    Comment by CT — 08/08/2021 @ 09:51:51 PM

  4. I’m not much of one for carrying cash. The majority of my ATM usage is at my favorite Tampa hot dog joint, which doesn’t accept plastic. Their ATM charges a fee, so I try to make it worthwhile - $40 or $60, though my bill never gets close to $10.

    Comment by Joel — 08/08/2021 @ 10:39:50 PM

  5. Generally $40 or $60 dollars, depending on what I know is coming up. Lately it seems more like $60, though I’ve noticed when I don’t have time or motivation that $40 can stretch a long way…

    Comment by douglas.nerad — 08/14/2006 @ 02:52:22 AM

  6. The other day, I just noticed that BofA ATMs offer fast-cash single-touch options of $20, $40, $60… and then $100 and up. I imagine other banks’ machines have the same combo. So if the sixty-buck option someday becomes inadequate… I realize you can punch in a custom amount, but as with anything else, the defaults are what get used the most, and I always look for the quickest option when getting my money.

    Comment by CT — 08/14/2006 @ 10:30:47 AM

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