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Concerns About ACH Transfer Limits

BillA
  |     |   13 posts since 2018

I was surprised to see so many ACH transfer limitations. For example, at NASA FCU the daily outgoing ACH limit for members (not new) is $10,000 daily and $25,000 monthly. There's no limit on ACH incoming requests (pull from another bank). Wire transfers are also an option for $$.

Zynlo limits outgoings to $10k/day and $25k/month and incomings to $50k/day, $100k/month with NO wire possibilities. Hmmm.

Both indicated that there may be possible exceptions if you call and ask. The "may" part kinda bothers me.

When you've got a bunch of money there, these seem to severely limit your ability to cash out and go somewhere else. Anyone else concerned about this? I guess these are to try and mitigate fraud on their end. but... Appreciate the feedback.

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Sylvia
  |     |   389 posts since 2012
BillA, you need a hub with generous limits that can do the heavy lifting of pushing and pulling funds in and out of such places. I use Alliant, though with a $25K daily outgoing limit, they're sometimes less than optimal in pushing funds into external FI's. However, their $100K daily incoming limit is decent. Ally seems to be another popular hub. For more serious sums, wire is your best bet.
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Rickny
  |     |   1,296 posts since 2017
Chase lowered a lot of limits during Covid-19. A Chase bank rep near me said a lot of fraud is going on and is getting worse.
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