This is yet another interesting and educative article where we’d be discussing about the “Zelle weekly limits“.
But before we go into that, I’d like to tell you a little about the payment platform called “Zelle” and how it works with respect to their weekly transactional limits.
What is Zelle?
Zelle is a United States based digital payments network owned by Early Warning services, LLC, a private financial services company.
This private financial services company is owned by some Banks in the US. These banks are;
- Bank of America
- JpMorgan Chase
- PNC Bank
- Wells Fargo
- Capital One
- BB&T and
- US Bank.
These banks listed above came together to create Early Warning services.
Zelle services enables individual to transfer money electronically from their bank account to another registered user’s bank account (within the United States) using a mobile device.
Zelle pay is a personal payment feature backed by the biggest banks in the United States.
The banks connect directly to the Zelle app, so there is no need for a third party.
Customers don’t have to link their accounts to a third party because the money moves directly between banks.
So it’s pretty easy to use the Zelle app because you don’t have to go through all the stress if adding a bank account to the app, unless your bank has not partnered with Zelle pay yet.
One very important thing to note about Zelle is that, not every bank in the US is partnered with Zelle.
But it (Zelle) is constantly working on adding more and more banks to the network.
If your bank has not partnered with Zelle, you can still use the standalone Zelle mobile app that is available on play store and apple store on your Android and iOS phones respectively.
You then have to link your Visa or MasterCard debit card to the app to enable you send and receive payments.
Now you know what Zelle is, it’s time to dive right in to the purpose of creating this blog post. That is ” what is Zelle weekly limits“.
What is Zelle weekly limits?
Zelle pay is used to transfer money to friends and family at the top US banks, so the limits may vary based on the account.
In other words, like I said before, Zelle is backed by some of the biggest banks in the US, so if you own an account with of of the banks I listed above your limit will be different from others.
Generally, zelle weekly limit ranges from $500 to $5000 though the limit depends on the bank you’re you have an account with.
Because, like I said before every bank had its own limit.
According to zelle, if your bank or credit union has not partnered with Zelle, your weekly send limit is $500.
And it is nearly impossible to increase this limit.
Now if you own an account in a bank that is partners with Zelle, your limit will differ, depending on the particular bank you’re banking with.
Below are some Banks I’ll be using to explain. I just picked a few
1. Zelle weekly limit for Bank of America is $10,000 and 30 transfers for individual account, $45,000 and 60 transfers for small business.
Like I said earlier, Bank of America is among the banks that supports the use of zelle for sending and receiving money.
So the above is the weekly limit for those that ownindividual and business account with BOA respectively.
2. If you own an account with Chase Bank, then this is for you. Chase bank gives you a maximum sending and receiving limit of $2,000 in a single transaction that is up to $2,000 a day and $16,000 in a single calendar month for a personal chase checking account.
If you own a chase Private Client/Private Banking client accounts, you can send up to $5,000 in a single transaction, up to $5,000 a day and $40,000 in a single calendar month.
These are the only two Banks I know about their weekly limits for now.
Can you change your Zelle limit?
I don’t think it is possible to change your limit.
Because these limits were set by the banks, and it is nearly impossible to change a limit set by the bank.
But you can always call the customer care service of your bank to see if it is actually possible.