ACH Limits

  |     |   49 posts since 2010

I would be interested in hearing a conversation on this topic. With interest rates going down I am finding it difficult making external transfers even though I have set them up for both to/and from at both banks I want to make the transfers at.

For instance BankUnited just lowered their MM rate from 2 to 1.75. I have BOA set up to transfer money to and from at BankUnited (which does not supply checks). BankUnited only allows transfers of $2K max a day with $15K per month max to external banks. So I set up transfer both to and from on my BOA account but BOA only allows $2K max a day with $6K limit from outside banks.

These limits make it very difficult move dollars around when rates drop or go up. The only solution I have found is to buy checks and make transfers the old fashion way.

Am I missing something?

  |     |   118 posts since 2019
A HUB Account. Try Ally
  |     |   49 posts since 2010
good idea. I had been using BOA as my hub account as I did not research their low transfer rates. I will take a look at Ally's numbers.
  |     |   72 posts since 2017
Most banks will mail you a cashier's check. Some charge a fee for this. I know you lose some interest while the funds are in transit, but it's one way around these low transfer limits.
  |     |   14 posts since 2012
BankUnited account does permit checks

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.