Last Updated on December 16, 2022 by Babette Sasha
Let us understand what Zelle is and why it is so popular.
Zelle is a digital platform for sending and receiving money. It is a safe, secure, and faster way of transferring money to friends, family, or relatives. It is why the app has become popular with time among the people of the U.S.
Zelle helps you transfer certain amounts of money to the people you want to. However, you cannot just transfer any amount of money you want.
There is a limit to how much you can transfer.
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Are there transaction limits with Zelle?
Zelle does not have a particular sending limit as such. It depends on your financial institution to how much you can send.
In this blog, you will get to know all about your bank’s daily, weekly and monthly limits. Read to find out your bank’s transfer limits .
What is the weekly spending limit with Zelle?
There can be two cases on which this depends.
Firstly, whether your financial institution participates with Zelle. Secondly, whether it does not.
You must know that more than thirty major banks of the U.S participate with Zelle. If you have a bank account in one of those banks, then, you need not worry. Mostly, banks participating with Zelle have a higher transfer limit than those who don’t. It depends on your financial institution.
If your bank is not among the banks which participate with Zelle, then the transfer limit with Zelle comes down to just $500 a week.
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What are the transfer limits with Bank of America?
If you have a bank account with the Bank of America, your transaction limits are stated below:
Daily transaction limit with the Bank of America: $3,500Weekly transaction limit with the Bank of America: $10,000
Monthly transaction limit with the Bank of America: $20,000
Note: There is also a limit to the number of transfers you can make.
Daily transfers limit: 10 transfers per day.
Weekly transfer limit: 30 transfers per week.
Monthly transfer limits with Zelle: 60 transfers per monthly
Transaction limits for business accounts
If you have a business account associated with the Bank of America, there are different limits compared to an individual account.
Daily transaction limit: $15,000 per day
Weekly transaction limit: $45,000 a week
Monthly transaction limit: $60,000 monthly
There is also a limit to the number of transfers you can make in a day.
Daily transfers limit: 20 transfers per day.
Weekly transfer limit: 60 transfers per week.
Monthly transfer limits with Zelle: 120 transfers per monthly
The single transaction limit for an individual account is $3500 and $15,000 for a small business account.
Zelle transfer limit guidelines:
Zelle is integrated with dozens of banks in the U.S but all the banks have different transfer policies hence, it is better to know the transfer limits of your banks.
There is no limit to the amount of money you can receive. That wholly depends on your recipient’s bank limits.
Below are the daily and monthly limits of some of the major banks which support Zelle.
|Bank name||Daily Limit||Monthly Limit|
|Bank of America||$2,500||$20,000|
|Chase Personal Checking||$2,000||$16,000|
|Chase Business Checking or Chase Private Client||$5,000||$40,000|
|Citibank Account, Basic Account and Access Account||$2,000||$10,000|
|Citibank Citi Priority, Citigold and Citi Private Bank||$5,000||$15,000|
Note: transfer limits with Zelle depend on the Bank. This limit can be changed anytime, it is better to find out from your Bank.
What does my transfer limit depend on?
Transfer limit depends on the type of bank account you have. For instance, business accounts generally have a higher transfer limit than individual accounts.
It also depends from bank to bank. You already know if your bank institution does not support Zelle, then the weekly limit is %500 a week. Participating bank accounts have mostly higher transaction limits. Some banks even allow you to send $5000 daily. You just need to find out your best bet!
It should also be kept in mind, that the transfer limits apply only to the amount of money you can send. The amount of money you can receive has no limits. It wholly depends on the sender’s transfer limits.
Why use Zelle?
Instant transfers: transfers with Zelle occur typically within minutes.
Integrated with more than 30 banks: Zelle is supported by a large number of banks in the U.S so it’s easy to transfer with banks associated with Zelle.
No transfer Fees: transfers made with Zelle do not cost you anything. It is completely free of cost.
Easy transfer: transfers with Zelle do not require any information. Only the U.S mobile phone or email address of the recipient is needed.
Convenient: you can send money to almost anyone across the U.S.
send money from the comfort of your home, or, wherever you are.
How to view transaction history on Zelle
If you want to check how much money you have sent and received, you might want to go through your transaction history. Follow the given steps to locate it:
You can view all your transactions at any time on Zelle. Although you won’t view Zelle transactions on the app or website, you need to visit each bank you use with Zelle to view your transactions.
To view your Zelle transaction history, follow the steps below:
1. Open your mobile banking app or online account and log into it.
2. Go to “Send Money with Zelle®.”
3. Press on “Activity.”
4. Select “Past” under the view tab.
The above steps will provide you with a list of all Zelle transactions processed through just one particular bank.
Zelle is a fast and straightforward way of sending money directly from your bank account. It’s simple and easy to use and transfers money to anyone in the U.S.
Bear in mind, if you don’t have a bank account supported by Zelle, then your transfer limit becomes $500 per week.