Austria has reduced the maximum cash withdrawal limit at several hundred ATMs, leaving many customers surprised when they discover they can withdraw only around €200 per transaction instead of the long-standing €400 standard.
The Oesterreichische Nationalbank (OeNB), Austria’s central bank, confirmed to the Austrian Press Agency (APA) that lower withdrawal limits have been introduced at some cash machines. The bank stressed that the €400 limit was never a legal requirement but rather a long-established practice, allowing ATM operators to set their own limits.
According to the OeNB, the change has been made by independent ATM operators for commercial reasons. Since these operators generally earn revenue based on the number of transactions rather than the amount withdrawn, lower per-transaction limits can increase the number of withdrawals customers need to make.
The reduced limit applies only to individual ATM transactions and does not affect the daily or weekly withdrawal limits set by customers’ banks. Those needing larger amounts of cash can still access their funds but may have to complete multiple transactions.
The central bank said several hundred machines out of Austria’s approximately 8,900 ATMs are currently affected, although it did not identify the locations or the operator involved. It also noted that it does not expect all ATMs in the country to adopt lower withdrawal limits.
The OeNB pointed out that the €400 standard has remained unchanged since the introduction of the euro and suggested that increasing the limit could also be considered in the future. However, officials are more concerned about the growing variation in withdrawal limits between different ATMs, saying the inconsistency could confuse customers.
The central bank welcomed a proposed European Union regulation on cash services, expected to be adopted later this year, which would establish a dedicated cash authority and promote more consistent rules and clearer information for consumers across member states.
Until then, customers planning to withdraw larger amounts of cash are advised to check the limits at individual ATMs and be prepared to make more than one transaction if necessary.
