Originally Posted by
Boraxo
Exactly. And once your account is drained, you're going to have trouble getting cash for a few days ... or longer. Because the balance is zero. Though I suppose if you have an investment account you could sell something and wait for funds to clear.
Or, as mentioned previously, one could simply have a second account at Fidelity, and then transfer money, within seconds, from that account into the "ATM" account by mobile app or on a computer.
And of course there is the other situation (common in the Americas, if not Europe), where you are kidnapped and taken to an ATM with a gun pointed at your head (or simply mugged at the ATM itself). And again, a $500 daily limit means your temporary loss is limited (and maybe there will still be money left when you receive your replacement card).
The Fidelity Cash Management debit card already has a $500/day ATM withdrawal limit.