Those per transaction limits are for YOUR protection so in case someone hacks into your account they won't empty it and you can ask the bank to raise the limits

Those per transaction limits are for YOUR protection so in case someone hacks into your account they won't empty it and you can ask the bank to raise the limits. Banks ask you the reason for transactions beyond a certain amount because they have to report it to authorities. Large transactions like paying for a property don't happen at the drop of the hat. You won't just wake up in the middle of the night and decide to buy a property immediately right then.