ACH Limits

djc314
  |     |   40 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?




blazer9
  |     |   67 posts since 2019
A HUB Account. Try Ally
djc314
  |     |   40 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.
enelrad1123
  |     |   68 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.
anzavista
  |     |   14 posts since 2012
BankUnited account does permit checks


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