Understanding your daily cash limits is essential for managing your everyday spending and avoiding unexpected declined transactions at the machine. The Bank of Melbourne sets standard daily limits for ATM withdrawals and EFTPOS cash-outs primarily to protect your funds in the event your physical debit or credit card is lost, stolen, or compromised by fraudsters.
Fortunately, the bank empowers you to manage these restrictions directly through their secure digital platforms. Whether you need to lower your limit to $0 for ultimate security while traveling, or maximize it to the standard $2,000 cap for a large cash purchase, adjusting your Bank of Melbourne ATM withdrawal limit is a straightforward process you can complete in minutes from your smartphone.
ATM & Cash Withdrawal Limit Details
| Category | Details |
|---|---|
| Maximum Daily Limit | Up to a set daily maximum (commonly around $2,000, depending on card type and settings). |
| Minimum Daily Limit | Can be reduced to $0 to block all ATM cash withdrawals entirely. |
| In-Branch Withdrawals | Higher cash withdrawals may require a branch visit or prior arrangement, depending on your limit settings (for example, over $2,000). |
| Change Availability | Adjusted limits take effect instantly via the Mobile App or Internet Banking. |
Step-by-Step Algorithm: How to Change Your ATM Limit
Using Bank of Melbourne App
- Tap Services at the bottom of your screen
- Tap on Change ATM/EFTPOS Cash Limit under the My Cards menu
- Choose your card from the drop-down list
- Select a limit, or Other from the drop-down list
- Tap Confirm.
Using Bank of Melbourne Internet Banking
- Select Manage My Accounts
- Choose Manage ATM & EFTPOS Cash Limit under the Card Services menu
- Select your card from the drop-down list
- Set a new limit to a value between $0 and $2000 in the indicated box
- Select Confirm.
Pro-Tip: If you are using desktop Internet Banking instead of the app, you can find this exact same feature by clicking on Manage My Accounts and selecting Manage ATM & EFTPOS Cash Limit under the Card Services menu.
Troubleshooting Common Pain Points
- MFA Delays on Confirmation: When changing sensitive security settings like daily limits, the bank may prompt you for a Multi-Factor Authentication (MFA) code. If the SMS is delayed by network congestion, do not spam the resend button. Instead, use the built-in security token feature within the mobile app to authenticate the limit change instantly.
- Browser Errors on Desktop: If the slider or drop-down menu for selecting your new limit freezes while using desktop Internet Banking, a caching error is likely the culprit. Clear your browser cache and cookies, disable aggressive ad-blockers, and refresh the page to restore functionality.
- Locked ID or Missing Cards: Some card types or account structures may not support online limit changes. If your entire digital profile locks due to multiple incorrect password attempts, you must wait 15 minutes or use the Forgot Password tool before you can adjust your cash limits.
Our Top Efficiency Hack
For the ultimate balance of convenience and security, keep your daily ATM withdrawal limit set to a low amount (e.g., $200) for everyday use to minimize risk if your card is skimmed. If you suddenly need to buy a used car or pay a tradesperson in cash, open the Bank of Melbourne App while standing in line at the ATM, temporarily boost the limit to $2,000, make your withdrawal, and immediately revert the limit back to $200 before you walk away.
Frequently Asked Questions
What if I need to withdraw more than $2,000 in cash?
Because the digital limit is strictly capped at $2,000 per card, any cash withdrawals exceeding this amount must be performed inside a physical Bank of Melbourne or St. George branch during business hours. For withdrawals exceeding $5,000, you must contact the branch at least two business days in advance to ensure they have the physical cash available.
Does changing my ATM limit affect my daily transfer limit?
No. Your ATM and EFTPOS cash withdrawal limit is entirely separate from your Internet Banking Daily Payment Limit (which dictates how much you can transfer to third-party accounts or via BPAY). Changing one does not impact the other.
Pro-Tip: If you are traveling overseas, remember that the $2,000 daily limit remains the same, but it is calculated in Australian Dollars (AUD). Always factor in real-time exchange rates when attempting to withdraw the maximum amount from a foreign ATM.
