The Bank of America is one of the many banks that allows cash transactions using Zelle. In this article on the Bank of America Zelle limit, I will be answering the many questions that revolve around the Bank of America Zelle limit in 2021 and much more.
What Is The Maximum You Can Send With Zelle bank of America?
The Bank of America Zelle limit for an individual account is $3,500 per day and $20,000 in a month. For a small business and the Merrill Lynch account, the Zelle limit is $15,000 per day and $60,000 per month, while the Bank of America Zelle limit for Private Bank accounts is $25,000 per day and $100,000 per month.
Zelle Pay (popularly referred to as Zelle) has become a payment platform for sending and receiving money worldwide. Making international transactions has proven to be a daunting task as most platforms seem to segregate between countries, and they usually come with gruesome charges. Zelle’s acceptance is proof that the platform is offering customers top-notch services.
It is important to note that the Zelle transfer limits vary on the type of account you operate, and it is divided into daily, weekly, and monthly basis. As we proceed in this article, I will show you all the disparities in the Bank of America Zelle limit in 2021 regarding the account type and timeframe disparity. Let’s go.
Zelle Limit On Major American Bank
|Bank||Daily limits||Monthly limits|
|Ally Bank||$500 Daily||$10,000/30 days|
|Bank of America||$2,500 Daily||$20,000/month|
|Capital One||$2,000 Daily||$10,000/month|
|Chase Bank||Chase Personal Checking: $2,000/day |
Chase Business Checking accounts: $5,000/day
|Chase Personal Checking: $16,000 Monthly|
Chase Business Checking accounts: $40,000 Monthly
|Citibank||For Accounts less than 90 days:|
Citibank, Basic, & Access accounts: $1,000 Daily
Citi Priority, Citigold, and Citi Private Bank accounts: $1,000 Daily
For Accounts Over 90 days:
Citibank, Basic, & Access accounts: $2,000 Daily for Citi Priority, Citigold, and Citi Private Bank accounts: $5,000 Daily
|For Accounts less than 90 days:|
Citibank, Basic, & Access accounts: $5,000 Monthly
Citi Priority, Citigold, and Citi Private Bank accounts: $5,000 Monthly
For Accounts Over 90 days:
Citibank, Basic, & Access accounts: $10,000 Monthly
Citi Priority, Citigold, and Citi Private Bank accounts: $15,000 Monthly
|Citizen’s Bank||Up to $1,000 Daily||Up to $5,000 Monthly|
|PNC Bank||Up to $1,000 Daily||Up to $5,000 Monthly|
|TD Bank||Transfer within minutes feature: $1,000 Daily|
Transfer within 3-day feature: $2,500 Daily
|Transfer within minutes feature: $5,000 Monthly|
Transfer within 3-day feature: $10,000 Monthly
|Trust||Up to $2,000 Daily||$10,000/rolling 30-day period|
|U.S. Bank||Between $1,500 and $2,500 Daily||$5,000 and $10,000 Mothly|
|Wells Fargo||Up to $2,500 Daily||Up to $4,000 Monthly|
To protect users of Zelle Pay, a limit has been imposed on the amount of money you can send and the number of transfers you can make. The Bank of America Zelle limit is three thousand five hundred dollars per day and twenty thousand dollars per month. However, this Zelle transfer limit is subject to the kind of account I have explained below.
Bank of America Zelle Limit for Individual Account
All payment platforms have daily limits, and this is because they are trying to prevent fraud and keep the accounts of their users safe. Another reason why banks and payment platforms impose limits on transactions is to maintain a steady cash flow and equity.
For the Bank of America Zelle limit for an individual account, customers can send up to $3,500 per day and make ten transfers daily. Still, on the individual account limit, the weekly Zelle limit for transactions is $10,000, and customers will not be allowed to transfer more than 30 times in a week. Lastly, the Bank of America Zelle limit for individual accounts in a month is $20,000 and a minimum of 60 total transfers.
While Zelle Pay imposes limits on transfers, there is no limit to how much you can receive. This means that the Zelle limit, as we are discussing, only affects transfers made from your Bank of America Zelle account, but you can receive as much money as is sent to you without limits.
Let’s look at the other bank account types and what kind of limit is placed on them.
Bank of America Zelle Limit for Business Account
The Bank of America Zelle limit for business accounts is divided into daily, weekly, and monthly transactions. The Bank of America Zelle limit is $15,000 per day for twenty transfers if you operate a business account. Every week, you will be allowed to make up to sixty transfers at a limit of $45,000.
The monthly Bank of America Zelle limit for business accounts is $60,000 in 120 monthly transfers. As I explained, while there is a limit you what you can send using Zelle, there is no limit to what you can receive via the platform.
Bank Of America Zelle Limit Per Week
The Bank of America Zelle limit is $2,500 per week. This is the maximum amount you can send or receive each week using the service. However, there are no limits on the number of transactions you can complete in one day. A transaction might be declined if the recipient doesn’t have an account with Bank of America.
Bank of America Zelle Limit for Merrill Lynch
Both the business account and the Merrill lynch account have the same Zelle transfer limit. The only difference between these account types is the total amount of transfers allowed. While the small business account allows 20 daily transfers, 60 weekly transfers, and 120 monthly transfers, the Merrill Lynch account allows 15, 30, and 60 transfers.
The Bank of America Zelle limit for Merrill Lynch is $15,000 for not more than 15 total transfers daily. The weekly limit is $45,000 and up to 30 total transfers, while the monthly Zelle transfer limit for a Merrill Lynch account is $60,000 in 60 total transfers.
Next, we would look at the Zelle transfer limit for Private Bank accounts.
Bank of America Zelle Limit for Private Bank
Having a Private Bank account with the Bank of America, you can make up to $25,000 and 15 total transfers daily. Every week, the Zelle transfer limit for a Private Bank account is $60,000 for not more than 30 transfers, and every month, you are allowed to make up to $100,000 transfers but not more than 60 monthly transfers.
Can I Send $5,000 through Zelle?
The Zelle daily limit for an individual account is $3,500 per day, which means if you own an individual account, you cannot send $5,000 through Zelle. However, if you have a business account, Merrill Lynch account, or a Private Bank account, you can send $5,000 through Zelle.
Sending money through Zelle is dependent on the account type you have. While you cannot send $5,000 through Zelle in a day using an Individual account, you can send more than that when using any other account options.
If you must make a payment of $5,000 through Zelle, then you would have to spend $3,500 once and then wait till the next day to send the remaining $1,500. That’s the only way to send $5,000 using an Individual account on Zelle Pay.
Is There a Limit on Zelle Bank of America?
Yes. Zelle places a limit on transactions performed on its platform, and according to them, the limits to cash transactions are placed for security reasons. Zelle limits the amount of money and the total transfers customers can carry out in a specific period.
How to Increase Zelle Daily Limit for Bank of America?
Increasing your Bank of America Zelle limit may not be feasible on paper, but there is no harm in inquiring at your bank branch. The Bank of America allows Zelle users to transfer up to $3,500 per day on an individual account, but small business accounts can transfer up to $15,000 per day. It is safe to say that you could increase your Zelle daily limit for Bank of America by upgrading your account, but this may not be allowed.
Does Zelle Do Instant Transfers?
Yes. Zelle transfers are performed instantly. When you send money using Zelle, the recipient will receive it a few minutes after the transfer is successful on your end. However, The bank will process transfers made on weekends or after 7 pm EST on weekdays next business day.
What is Morgan Stanley Zelle’s limit?
You can’t send more than $2,999 per transaction through Morgan Stanley Zelle. If you’re sending less than $2,999 per transaction, you won’t be able to use the service. If you need to send more than $2,999 but less than $9,999 per transaction, you’ll need to schedule a payment.
You can schedule up to five payments at once for up to $9,999 each. This feature allows you to make large payments more quickly than sending them one at a time through the app.
How often can I use Morgan Stanley Zelle?
You can use Morgan Stanley Zelle once every 10 minutes for up to 30 days after your first transaction with the company
What Is Wells Fargo Zelle Limit
The Wells Fargo Zelle limit is $250 per transaction, $2,500 per day, and $15,000 per month — all of which are subject to change by the bank.
Wells Fargo Zelle is a person-to-person payment service that allows you to send and receive money using your mobile device. The service is available 24/7, with no fees and no additional charges. You can even use this service if you don’t have a bank account, but you’ll need to verify your identity by providing your name, date of birth, and Social Security number.
What Is Chase Zelle Limit?
Chase Zelle Limit is a feature that allows you to send money to other users via Chase’s Zelle service. You can send up to $2,000 per transaction, up to $2,000 per day, and $40,000 monthly, depending on the chase account type.
Cash transfers are available for a fee of 25 cents per transfer, but the first $2,000 in transfers are free. If you want to send more than $2,000 at once, you’ll need to pay this fee.
You can also set a monthly limit on your account so that Chase won’t let you send more than that amount each month (but this doesn’t affect how much money people can send to you). For example: If someone sends you $1,000 using Zelle, but your monthly limit is $750, they only get the remaining $250 transferred into their account instead of the whole thing at once.
What Is Capital One Zelle Limit?
You can send up to $2,999 per transaction with Capital One Zelle. If you try to send more than that, you’ll get an error message, and your transaction won’t go through.
You can also send multiple payments in one day as long as they are under $2,999. For example, if you have three friends who need money for rent and each needs $1,000, you can send all three payments together in one day instead of making three separate transfers on different days.
If you need to make larger payments or have a lot of friends and family who need cash, consider using other peer-to-peer payment apps like PayPal or Venmo, both of which allow unlimited transfers for free over a month (although both limit transactions to $10,000 per day).
Final Thoughts on Bank of America Zelle Limit
Zelle offers one of the best services for sending and receiving money. It is available to banks such as the Bank of America, JP Morgan Chase Bank, Wells Fargo, Capital One, Morgan Stanley, Ally bank, PNC, the US Bank, etc.
I am optimistic you found value in reading through my research on the Bank of America Zelle limit for 2021. Now you know the Zelle transfer limit on your Bank of America account. Conclusively, it is vital to note that this Zelle transfer limit is only for Bank of America customers as there are chances the limits would be different in other banks.