Below a certain amount can my bank force me to withdraw cash from my account through a cash machine?
The first point to note is that your funds deposited at a credit institution as a demand deposit should be made available to you immediately on demand, by any of the means envisaged in your agreement with the bank. Accordingly, your bank should pay out the amount requested, from the funds you have available, in legal tender coins and banknotes.
However, the way in which credit institutions provide cash services – including cash withdrawals – depends on their internal regulations.
That said, if a credit institution wishes to provide cash services exclusively through cash machines, or other alternative automated devices, preventing its customers from making cash withdrawals below a certain amount over the counter, it should:
- Demonstrate that this limitation is included in the account agreement.
- If this is as a result of unexpected circumstances, inform you, in advance and individually, of the entry into force of these restrictions (two months’ advance notice).
In any event, your bank should inform you of the means it places at your disposal for you to use the services it offers and of any possible restrictions that may be imposed. This information should be included in the account agreement, to allow you to take an informed decision as to which credit institution you wish to open a bank account with.
If you have any questions in this respect, you can contact us by telephone (34 900.545.454 / 34 913.388.830), in writing, using the contact form or by letter addressed to Banco de España, Market Conduct and Claims Department, C/ Alcalá 48, 28014, Madrid, or in person at the Banco de España headquarters in Madrid or at any of its branch offices.