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And yet my super regional bank will only allow me, a customer of over 20 years, to ACH $5000 per day or $25000 per month. I read that Citibank has ACH limits of

And yet my super regional bank will only allow me, a customer of over 20 years, to ACH $5000 per day or $25000 per month. I read that Citibank has ACH limits of $2000/$10000.

simfree 3y ago
There are credit unions with higher Zelle limits, nevermind actual ACH limits. Switch to a credit union that values your business, they are much more motivated to hook you up with high ACH limits, and I've repeatedly seen them issue loans at rates well below market.
- hnburnsy 3y ago
  I do have investment accounts with much much higher limits but I wonder for how long.
- hnburnsy 3y ago
  Just checked my Zelle limits are $1,000 day, $2,500 per week, or $10,000 per month
yieldcrv 3y ago
Ha they actually only say it’s for kyc aml or security measures but really it’s because they don’t have the money and can only stem a bankrun by gating withdrawals at all times First republic bank imploded so fast because their niche was convenience in not having limits All the banks have the same problem, they’re holding us treasuries with customer deposits at a huge loss right now. the regulations say they don’t have to disclose the current market value of government bonds like us treasuries, so as long as they never need the money they’ll get it all paid by the government over time, but if they ever do need the money sooner they’ll have to liquidate the bonds at their current market value and never have enough to pay everyone.
- hnburnsy 3y ago
  My advice, have accounts at minimum 2 banks at all times. Doubtful you will lose money, but you can lose access to your funds\paying bills for a short time, plus any bank, at any time can choose not to do business with you.
  - singleshot_ 3y ago
    There’s a liquidity angle, but there are other angles, too. A bank owes no duty to, and thus cannot commit negligence against a non-customer. How many bank accounts you want depends on you, but two seems awfully few to me.

And yet my super regional bank will only allow me, a customer of over 20 years, to ACH $5000 per day or $25000 per month. I read that Citibank has ACH limits of $2000/$10000.

simfree 3y ago

There are credit unions with higher Zelle limits, nevermind actual ACH limits. Switch to a credit union that values your business, they are much more motivated to hook you up with high ACH limits, and I've repeatedly seen them issue loans at rates well below market.

hnburnsy 3y ago
I do have investment accounts with much much higher limits but I wonder for how long.
hnburnsy 3y ago
Just checked my Zelle limits are $1,000 day, $2,500 per week, or $10,000 per month

yieldcrv 3y ago

Ha they actually only say it’s for kyc aml or security measures but really it’s because they don’t have the money and can only stem a bankrun by gating withdrawals at all times First republic bank imploded so fast because their niche was convenience in not having limits All the banks have the same problem, they’re holding us treasuries with customer deposits at a huge loss right now. the regulations say they don’t have to disclose the current market value of government bonds like us treasuries, so as long as they never need the money they’ll get it all paid by the government over time, but if they ever do need the money sooner they’ll have to liquidate the bonds at their current market value and never have enough to pay everyone.

hnburnsy 3y ago
My advice, have accounts at minimum 2 banks at all times. Doubtful you will lose money, but you can lose access to your funds\paying bills for a short time, plus any bank, at any time can choose not to do business with you.
- singleshot_ 3y ago
  There’s a liquidity angle, but there are other angles, too. A bank owes no duty to, and thus cannot commit negligence against a non-customer. How many bank accounts you want depends on you, but two seems awfully few to me.