Primis' Withdrawal Limits?

denki | Apr 11, 2023 | 158 posts since 2019

Can anyone clarify what the amount limit (if any) there is on withdrawing funds from Primis via ACH? Is there a Daily or Monthly ACH limit? And would that limit still apply if the ACH pull was initiated from the other end? A while back there seemed to be a lot of conflicting information. Thanks

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Answers

RickZ | Apr 11, 2023 | 218 posts since 2010

You should note that Primis only charges $5 for a wire transfer. They have a outstanding wire department - you request the wire request online and they'll call you within an hour or two to confirm everything and after that the wire goes out very quickly. I've done several wire transfers and they've all posted at the receiving FI the same day. Paying $5 for a same day transfer could be more cost effective than losing a day of interest with an ACH.

JeffinEasternFL | Apr 11, 2023 | 744 posts since 2020

Similar at MBoI except incoming and outgoing wires are free (you must ask for the $20 charge and reimbursement) but they are usually completed in a few hours! Bank service like that is hard to find nowadays and a reason (of many) to stick with a FI!

BT4 | Apr 11, 2023 | 15 posts since 2023

I just called them a few days ago because I was planning to open an account elsewhere & fund it from Primis so I wanted to doublecheck if anything had changed. ACH transfer limit for "pushing" funds out has gone down drastically from when I opened my accounts in early Feb. CSR on phone told me they "are in the process of changing" a lot of things, so it (transfer limits) "will probably change again". She said that currently it is a $5K/day limit & no monthly limit - that is if you initiate from PRIMIS pushing to external FI.. (Previously it was $30k/day & $100K/mo outgoing). So of course I asked her about if initiate withdrawal from the external FI, & she said the only limits are whatever the other bank's limits are. SO, you should be ok with pulling any amount out of Primis from other FI.

happyharold4 | Apr 15, 2023 | 388 posts since 2022

Here's an email from them confirming what BT4 said above.

Primis Originated Inbound – No Limit
Primis Originated Outbound –
Customer initiated up to $5,000
If over $5,000, call or CHAT with Primis banker who enters the order
Originated through other Financial Institution
Inbound to Primis & Outbound from Primis
Will follow that financial institution external transfer limits. Primis does not have any limit for incoming transfers
You are able to also complete wires. The limits and fees are the following at this time.

Domestic/International Incoming - no limit
Domestic/International Outgoing – up to $8M
Domestic Outgoing - $5.00/per wire
International Outgoing - $35.00/per wire (Not yet available, but coming soon)

Rickny | Apr 15, 2023 | 1,296 posts since 2017

Primis also gives free checks and I do not believe have limits. Another way to get a large amount out of your account.

BT4 | Apr 15, 2023 | 15 posts since 2023

(I'm trying to post this comment under happyharold's comment, not under RickNY comment, but don't seem to see how to do that)

BT4 | Apr 15, 2023 | 15 posts since 2023

CSR did tell me too that you CAN do over $5K outbound ACH from Primis IF you speak to a CSR to initiate it.

But, since it is STILL* so hard to reach a CSR in any timely way, that is not really a viable alternative for an outbound ACH.
(And as RickZ said, you can always do a wire outbound cheaply - I didn't mention since Denki asked specifically about ACH transfer limits)

*(Still often takes over an hour to reach CSR by phone!)

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