When you first sign up for a bank, it’s hard to think of every single service you will need down the line. It is especially difficult to keep up with these services considering all the fine print and occasional fee changes. This is exactly what Community member Rodney experienced when he needed to make ACH transfers from his UFBDirect savings account.

A quick reminder: ACH transfers are monetary transactions which are handled electronically. They are typically used for things like business to business, payments, direct debit payment including mortgages, loans, utilities, insurance premiums, rents, and any other regular payments and tax payments.

ACH Transfer Limits Pose a Problem for Consumers

Every bank has different rules and regulations to how transfers work. Rodney found that although UFBDirect had an excellent savings account the $2,000 a month limit was putting a damper on his uses for the account. He goes on to detail the situation in his community post.

Best rates on savings accounts are from UFBDirect at 1.3% APY. That said, I closed my account and transferred over to American Express due to the strict limitations on electronic funds transfers out of the account.

It turns out the $2,000 a month limit could increase to $5,000 a month after you build credibility but there is not a specified time period. Another MyBankTracker.com user left a post in our Reviews section detailing the same problem.

According to oldguysrule the ACH transfer limit of $1,500 was a problem among others he was experiencing with the bank. He states, “To be told they ALLOWED me have access to half my money as a COURTESY is indescribable.”

What Are Some Other ACH Transfer Caps?

Each bank operates slightly differently when it comes to rules regarding ACH transfers. If you are thinking of using your account along with ACH transfers here are some key questions you should ask your bank:

  • Is there a limit to how many transfers I can make each month, both inbound and outbound?
  • Are there any limits on the amount of money I can transfer out? If so are there ways to increase the limit?
  • When can I access transfers made into my account?
  • What are the differences between domestic and international transfers?
  • Are there time-relevant processing fees?

After finding out about these fee caps we decided to call a few banks and soon learned this isn’t the same for every institution. For example, American Express (NYSE: AMEX), Citigroup (NYSE: C) and Chase (NYSE:JPM) have no limits on ACH transfer.

Some banks offer higher limits than the $2,000 a month and $1,500 a month that UFBDirect and PerkStreet hold, which is good for customers that need more flexibility but don’t necessarily need unlimited transfer funds. Bank of the Internet provides customers with a 90 day period where they can only transfer $2,000 per day and $5,000 per month. This limit is lifted to $15,000 per day and $45,000 per month after the initial 90 day period. Another bank that has an equally high limit is Ally bank which has a $250,000 monthly limit on inbound transfers and a $150,000 limit on outbound transfers.

Bank of America (NYSE: BAC) does something different where they have a $1,000 daily limit, but this is lifted when you enroll in a Safe Pass — a program that sends a code to your phone to verify that it is indeed you that is making the transaction.

As with savings accounts, each bank has different rules and exceptions to how you can use ACH Transfers. If you want to be able to access your as much of your money as you want, when you want it for sending purposes, make sure to speak with a bank representative about ACH Transfer limits before committing to a savings or checking account.

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  • DT

    That is why you should never bank with only ONE bank, of course they will tell you should bank with one bank but I don’t think that holds any merit. A bank asks for loyalty but they are as loyal to you as a pair of disposable daily contacts. I bank with 4 different banks for different things. I distribute my money across by the banks “history” with me and by the services they offer. This allows me to move my money from one place to another in case one does something sketchy and I no longer feel this bank is going to treat me right as a customer.

    • This is a very good point. I personally only bank with one bank, but that’s because it’s easiest for me to keep track of my finances that way. Banking with multiple banks makes sense, it’s the same concept as not keeping all of your eggs in one basket. 

      Do you mind my asking which 4 banks you are with, and if you have some sort of system in place to keep track of your different accounts?
      Thanks for reading!

    • Guest

      When I had trouble with ufbdirects ACH limits I called their customer service, and they suggested I use external ACH to push or pull money.  I’ve had no problem transferring many tens of thousands of dollars into ufb (from ING).  As I use ING for billpay and checking, I hope that I will have no trouble pulling money from UFB if necessary.