ATMs can be configured for all kinds of amounts. It's up to the bank.
In the mid-90's, my father's bank would let him specify a withdrawal amount down to the cent. He could take out $53.17, and the machine would spit out $53 in bills, and 17 cents would roll down a chute into the coin tray.
In the late 90's, I had a bank that allowed almost any withdrawal amount. I know I took out $700 once for an emergency car repair.
I think a big reason the banks limit the amount of money you can take out is so they don't have to refill the machines as often. It's a cost-saving measure for them.
There are higher limit ATMs and accounts. Some Chase and Citibank accounts go up to $5000 iirc.
Usually there’s a “rich people” account with different limits and services. I knew somebody once who could call their guy have money delivered by courier in NYC.
In the mid-90's, my father's bank would let him specify a withdrawal amount down to the cent. He could take out $53.17, and the machine would spit out $53 in bills, and 17 cents would roll down a chute into the coin tray.
In the late 90's, I had a bank that allowed almost any withdrawal amount. I know I took out $700 once for an emergency car repair.
I think a big reason the banks limit the amount of money you can take out is so they don't have to refill the machines as often. It's a cost-saving measure for them.