Bank account transfer limits

[Starcraftmazter]

Don't get me wrong - I love my bank, one thing however that is somewhat annoying is that there is a $10,000 per day limit on any transfers. The only exception is if I order a bank cheque...but that in itself takes several days, and seems arcane.

Just wondering, is there any bank or institution which offers bank accounts with no limits on transfers?


Thanks

 

[DocK]

Don't get me wrong - I love my bank, one thing however that is somewhat annoying is that there is a $10,000 per day limit on any transfers. The only exception is if I order a bank cheque...but that in itself takes several days, and seems arcane.

Just wondering, is there any bank or institution which offers bank accounts with no limits on transfers?


Thanks

CBA allow $20k limit per day transfer to unlinked accounts and $100k per day Bpay. Transfers to linked accounts are unlimited. Amounts can be altered via the "security" tab - I assume other bank's online banking sites have a preferences type tab also?

 

[boofhead]

$10,000 limit is probably linked to the amount they would need to lawfully report. I know an Ulverstone man got tripped up by it when he was trying to withdraw money after the ATO let him know he was to be audited.

 

[McLovin]

$10,000 limit is probably linked to the amount they would need to lawfully report. I know an Ulverstone man got tripped up by it when he was trying to withdraw money after the ATO let him know he was to be audited.

I have a limit significantly above that. I had to fill out a form and they gave me a security device that was about it. Internet banking is probably relatively easy to hack (I imagine a significant number of people use "password" as their password), that is probably why the limit is low.

 

[pixel]

I have a limit significantly above that. I had to fill out a form and they gave me a security device that was about it. Internet banking is probably relatively easy to hack (I imagine a significant number of people use "password" as their password), that is probably why the limit is low.

That's quite obviously the reason. That's also why I leave my limit even lower.
If I do need more, I either spread the transfers over several days, or I send a cheque.

But as you say, you can always increase the limit if you really want to.

 

[awg]

Rabobank has either an unlimited or very high amount (rolling security device)

ANZ V2, I think is unlimited but tx +10k has to be done by ringing them.

I would think nearly all banks could find an account that has satisfactory tx limits for you

 

[McLovin]

ANZ V2, I think is unlimited but tx +10k has to be done by ringing them.

V2 Plus has some legacy issues that are the reason for the low txn value. It's to do with the system they run on (at least that's what they told me). I know when I ring ANZ I have to speak to V2 Plus, the regular ANZ people can't see the account.

That being said they're usually fairly fast to answer and arrange the txn when I need it, and they don't charge me.

 

[Dona Ferentes]

i just transferred money from a big 5 CMA to a big 4 savings account, and it arrived straight away.

no delay
..
first time
....

before it was

Transfers for accounts you have authority to access

First-time payments to or from an account linked to yours that you have authority to access, but belonging to someone else or an entity (e.g. Business accounts or accounts accessed by parents/legal guardians, Power of Attorneys, etc.), may take:

• 24 hours for transfers made before 7.30pm AEST
• 24-48 hours for transfers made at or after 7.30pm AEST

 

[divs4ever]

i just transferred money from a big 5 CMA to a big 4 savings account, and it arrived straight away.

no delay
..
first time
....

before it was

Transfers for accounts you have authority to access

First-time payments to or from an account linked to yours that you have authority to access, but belonging to someone else or an entity (e.g. Business accounts or accounts accessed by parents/legal guardians, Power of Attorneys, etc.), may take:

• 24 hours for transfers made before 7.30pm AEST
• 24-48 hours for transfers made at or after 7.30pm AEST

absolutely not my experiences in April this year , hopefully your experience is no longer unique

even transfers between bank accounts in my own name ( over $20,000 ) ( into different banks )

god forbid i had of tried that with cash withdrawals , and then cash deposits where it was desired

no wonder Jeffrey Epstein was so popular with the 'big money guys '