@Namaste7 wrote:An excerpt of the terms are below and I'm baffled by the low sending limits! Here is the link to the full Online Banking Service Agreement: https://www.bankofamerica.com/online-banking/service-agreement.go?
B. Types of ACH and Wire Transfers
You may send and receive the following types of ACH and Wire transfers:
Types of Transfers1, 2
Sending Limits (24 hours)3
Receiving Limits3
Fees4
Cut-Off Times
(all eastern PM)Three Business Day ACH (outbound)
- Consumer
- Small Business
- $1000
- $5000
- N/A
- $3.00
- $1.00
- 8:00
- 8:00
Three Business Day ACH (inbound)
- Consumer
- N/A
- $10,000 (per 24 hours)
- $50,000 (monthly)
- $0.00
- 8:00
Next Business Day ACH (outbound)
- Consumer
- Small Business
- $1000
- $5000
- N/A
- $10.00
- $5.00
- 8:00
- 8:00
Next Business Day ACH (inbound)5
- Consumer
- N/A
- $10,000 (per 24 hours)
- $50,000 (monthly)
- $0.00
- 8:00
Same Business Day (domestic) Wire Transfer (outbound)
- Consumer
- Small Business
- $1000
- $5000
- N/A
- $30.00
- $30.00
- 5:00
International Wire Transfer (outbound)
- Consumer
- Small Business
- $1000
- $5000
- N/A
- $45.00 (US Dollar transfer)
- $0.00 (Foreign currency transfer)
- $45.00 (US Dollar transfer) $0.00 (Foreign currency)
- 5:00
1/ For domestic transfers, funds will be debited from your Bank of America account on the business day you direct us to initiate processing of the transfer, and typically will be credited to the receiving account on the same business day, next business day or third business day after the transfer is initiated, depending on your choice.
2/ For Direct Payments Service, see the Business Services Addendum for details on fees and limits.
3/ You may be eligible for higher limits if you add Secured Transfer to receive a one-time passcode on your mobile device or register a USB security key. Higher limits may also apply for Bank of America Private Bank, Merrill or small business accounts.
This is crazy those limits are what you would find at a tiny CU.
