Zelle money transfer limit bank of america

Zelle is one of the most convenient payment services. It allows you to send and receive money instantly and avoid fees. However, there are some limitations, like daily and monthly payment limits. Before you complain, try thinking about it this way: with a service like Zelle, there’s no protection if you don’t receive an item you paid for.

Therefore, those limits are there for your security. Let’s explore Zelle’s daily limits for the various participating US banks.

What Does My Daily Limit Depend On?

The daily limit can depend on the type of account you have (whether it’s a personal or small business account) but, more importantly, it depends on the bank. Every bank that is partnered with Zelle can set their own limits and terms. That said, daily restrictions usually range from $1000 to $3500.

Of course, there are some exceptions: Some banks allow you to send only $500 a day, while the most liberal banks may allow up to $5000 in certain cases.

Moreover, some banks, like Citibank, may reserve certain benefits for established clients. You have to have your account with the bank for a certain period to qualify for the higher daily limit.

Finally, bear in mind that these limits apply only to payments. There shouldn’t be any limit to the amount of money that you can receive through Zelle.

Daily Limit at the Major US Banks

Here are the daily limits for the most widely-used US banks that support Zelle.

1. Bank of America – $3500 a day.
2. US Bank – $1500 or $2500 a day, depending on your account.
3. Wells Fargo – $2500 a day.
4. Capital One – $2500 a day.
5. Chase – $2000 for personal checking accounts or Chase Liquid cards. $5000 for Chase business or private client accounts.
6. Citibank – For new account holders (less than 90 days), $1500 for consumer accounts or $2000 for small business accounts. Otherwise, $2500 or $5000 depending on the account type ($5000 for small business accounts).
7. Citizen’s Bank – $1000 a day.
8. PNC Bank – $1000 a day.
9. TD Bank – $1000 for instant transfers and $2.500 for 3-day transfers.
10. Ally – $500 a day.

Note: Any bank could change its limit at any time. If you want to be 100% sure, the best thing that you can do is reach out to your bank and ask them directly. You can also log in to your account and try to send a transfer and the limit will be displayed right there.

What If My Bank Doesn’t Offer Zelle?

If your bank doesn’t support Zelle yet, don’t worry as you can still use it if you have a Visa or MasterCard debit card. All you have to do is download the Zelle app and connect it to your debit card. The only downside is that your weekly limit will be $500.

Zelle’s official website states that this limit is fixed for everyone, and you can’t request to increase or decrease this limit.

Are There Any Other Limits?

Although certain banks don’t limit the number of transactions you can make for the day or month, they all have monthly limits. For example, Bank of America has a daily limit of $3500 (10 transfers) and a monthly limit of $20000 (60 transfers).

Just like the daily limit, every bank has its own monthly limit. If you use Zelle often, it can be a good idea to track the transfers made, just to be sure you never cross the monthly limit. In any event, you will be notified of the limit when you try to make a transfer.

What Is Zelle’s Payment Speed?

The feature that sets Zelle apart from similar services is its impressive speed. If you want to send money to someone who’s also enrolled with Zelle, it’ll be transferred in a few minutes at the most. On the other hand, if the recipient doesn’t have a Zelle account, they may have to wait for one to three business days.

Are There Any Additional Fees?

The best thing about Zelle is that there aren’t any hidden costs or fees. You can make instant payments without an intermediary and you won’t be charged anything. It doesn’t matter whether you’re sending money to friends, family, or paying for goods or services.

Transfers Have Never Been Easier

Zelle is here to make your life easier! You can now split bills with your friends or pay the rent without additional fees. Moreover, many people use Zelle when they want to shop locally or support local businesses. You can think of it as a modern replacement for cash payments.

Once again, just be careful if you’re using Zelle to send money to someone you don’t know.

Disclaimer: Some pages on this site may include an affiliate link. This does not effect our editorial in any way.

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