
01-06-2024, 08:28 AM
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Sage
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Join Date: Mar 2015
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Quote:
Originally Posted by CoachKandSportsguy
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within the web page:
KEY TAKEAWAYS
ACH Transfer Limits and Fees: Banks set their own transfer limits and transaction fees, which can vary by bank and account type.
Importance of Transfer Limits.
ACH Transfer Rules: Banks have their own rules regarding ACH transfers, including transfer limits, processing fees, cutoff times, and penalties.
YOUR RELATIONSHIP MATTERS
Many may not know this, but as we noted earlier, many banks have the daily and monthly ACH transfers mentioned in the fine print. However, people who have been loyal customers of the bank for several years, and have a positive bank balance while following the guidelines set by the bank, should be able to up their transfer limit.
People with accounts that have often dipped to negative and are relatively new customers, or have frequently racked up a lot of fees, may find that the banks are less inclined to increase their transfer limits. So, as with everything, it is essential to manage your account, knowing that this will affect how your bank does business with you.
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you might want to inquire if there are any conditions which can increase the transfer limit by account type or balance level or customer age.
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Very good point. Perhaps since I've had an account for over 10 years, have a history of making transfers of the amounts stated, and a credit rating of 850 they allow me a higher limit.
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