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Does it, in fact, not permit you to get to the entire balance immediately via, say, cash or a bank check? It sounds like you are referring to something like an
by tacostakohashi 4y ago
Does it, in fact, not permit you to get to the entire balance immediately via, say, cash or a bank check?
It sounds like you are referring to something like an ATM withdrawal limit or online transfer limit which is just a risk / fraud limiting measure for those particular channels rather than a limitation on the account itself.
- timcederman 4y agoLive Oak Bank limits business account withdrawals to $250k/day.
- lazide 4y agoThat’s a policy thing to limit capital outflows, not a technical limitation.
- fsckboy 4y agobut that's exactly what we're talking about
- shalmanese 4y agoIf you have a business which pays fortnightly and the average employee makes $250K, then just payroll for 26 employees will reach your limit.
- nulbyte 4y agoYou don't need currency to facilitate payroll; it's a series of transfers, not withdrawals. And the recipients don't usually need that much currency either, even if they do bank at the same place.