Zelle Transfer Caps at Leading Banks: What Are Your Sending and Receiving Limits?
**Daily and Monthly Zelle Limits for Individual Users**
Each bank sets its own Zelle daily and monthly transfer limits for individual users. Here’s a breakdown of the limits at some of the largest banks in the country:
– **Wells Fargo**: Up to $3,500 daily, up to $20,000 monthly
– **Capital One**: Up to $2,500 daily, monthly limit varies
– **Bank of America**: Up to $3,500 daily, up to $20,000 monthly
– **Chase**: Up to $10,000 daily, monthly limit varies
– **TD Bank**: Instant transfers up to $1,000 daily and $5,000 monthly; Scheduled transfers up to $2,500 daily and $10,000 monthly
– **Citi**: New accounts up to $500 daily and $2,500 monthly; Existing accounts up to $5,000 daily and $20,000 monthly
Keep in mind that these limits might change based on your account status.
**Zelle Business Transfers Limits**
For business accounts, Zelle limits can vary significantly depending on the bank. Here’s a quick look:
– **Wells Fargo**: Up to $3,500 daily, up to $20,000 monthly
– **Capital One**: Does not allow Zelle business transfers
– **Bank of America**: Up to $15,000 daily, up to $60,000 monthly
– **Chase**: Up to $15,000 daily, monthly limit varies
– **TD Bank**: Up to $3,000 daily, up to $15,000 monthly
– **Citi**: New accounts up to $1,000 daily and $4,000 monthly; Existing accounts up to $5,000 daily and $40,000 monthly
**How To Increase Your Zelle Limit**
If you want to increase your Zelle limit, you’ll need to contact your bank or credit union directly. If your bank doesn’t support Zelle, the app itself has a weekly send limit of $500 and a receive limit of $5,000. Zelle doesn’t allow you to request changes to these limits.
**Alternative Options if You Hit Your Zelle Limit**
If you reach your Zelle limit, there are other ways to send money:
– **Try another payment platform**: Venmo, PayPal, and Square are popular options. They may charge a small fee, and the recipient will need an account.
– **Write a personal check**: It might seem old-fashioned, but it’s a good alternative for sending large sums.
– **Withdraw cash**: You can always go to an ATM and withdraw cash if needed.
– **Use a payment retailer**: Services like Western Union and MoneyGram let you send money by visiting an authorized retailer and funding the transaction with cash or a debit card. The recipient can pick up the money at a retailer by providing their name and transaction number.
– **Wait a few days**: Sometimes, the simplest solution is to wait until you’re back under Zelle’s payment limits.
**How Does Zelle Work?**
Here’s a step-by-step guide to using Zelle:
1. **Choose your recipient**: Only send money to people you know and trust.
2. **Get the recipient’s phone number or email**: They need this to receive money.
3. **Decide on the payment amount**: Your limit depends on your bank or credit union.
4. **Send the money**: The recipient will usually get the money in minutes if they’re already a Zelle user. If not, they’ll get instructions via email or text.
5. **Verify the payment**: Follow up with the recipient to ensure they received the money and check your bank account to confirm the correct amount was deducted.
**Benefits of Using Zelle**
One major benefit of Zelle is that it’s free to use. Unlike many competitors, Zelle doesn’t charge fees for sending or receiving money. This is because the money moves directly between bank accounts without a middleman. However, you can only use a checking, savings, or debit card for transactions—credit cards aren’t accepted. Always check with your bank to make sure there are no extra fees for using Zelle.