The savings account allows you to save all that money you don't need right away. However, it also provides quick access to it in case of an emergency. One of the advantages of this type of investment is that it is guaranteed by the government up to a certain amount. Savings have great security, but the income is not proportional. In other words, the profitability is very small - the value depends a lot on the SELIC rate, but it is around 1% per month. This article will teach you several ways to withdraw money from a savings account. Keep reading!
Part 1 of 2: Individual Savings
Step 1. You need to know your account details
Is it individual or joint? If you are the only holder, please continue reading this Method. If the savings have two or more holders, read the following Method.
Step 2. Call the bank or go to the institution's website to find out the withdrawal limits
At the ATM, you must respect the daily limits set by the bank. In the teller's mouth, this limit is higher - for very large amounts, it is only necessary to notify the bank a few days in advance.
Step 3. Access internet banking
If you want to transfer money from a savings account to a checking account, this is the best option. This transaction is considered a transfer and not a withdrawal as there are no other parties involved - just you and the same bank.
Such a transfer is usually very simple. Indicate the amount and you're done! Processing is immediate
Step 4. If both savings and checking accounts are not linked, you will need to go to the bank and talk to a cashier
It will usually ask for a photo ID (usually ID) and will also ask you to enter your account password.
Step 5. Use debit card
Whether shopping at stores or withdrawing cash from an ATM, this option is the most common of all. Don't forget your password! On the machine, you will also be able to view the account statement before withdrawing an amount.
Remember that each bank has a different limit for ATM withdrawals. Contact the institution to find out more
Part 2 of 2: Joint Savings
Step 1. There are several types of joint savings
At the time of the withdrawal, you need to know exactly the type of yours. In the joint account, the movement occurs with the signature of any holder. In the non-joint account, all holders must authorize the withdrawal. In this case, the debit card is usually not even provided. In the mixed account, holders designate their own rules. A joint account can have up to 10 holders.
Step 2. Access internet banking to check the statement and find out the withdrawal conditions
If the online process is extremely complicated, why not start looking for another bank?
Step 3. Transfer money to a checking account of the same holder and also the same bank
This process is very simple. However, you have to go to an agency in person.
In the joint account, cardholders only receive debit cards if everyone agrees. It is very important to know the policy of the financial institution
Step 4. Know the transfer limits
Keep in mind that the limits for the joint account are the same as for the individual one. At ATMs, the daily limit is relatively low - and you can only withdraw this way if you have a bank card.
- When monitoring account deposits and withdrawals, don't just rely on bank statements. Write down all transactions independently and once a month compare those notes to the statements.
- If you don't want the account to be automatically closed, never leave the balance zero. It is important that the account remains at a minimum value. At Banco do Brasil, for example, this amount is R$5.00.