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Electronic Transfer Limit

Is there a limit on how much I can transfer electronically?

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Any such limit would be imposed by your bank or banks. You will have to inquire of the institution involved.

Limits are often imposed to protect both the bank and its customers. If a crook obtained access to your account, and tried to transfer funds out, you'd like the limits to be very low. Even though your bank would have to reimburse you for a fraudulent transfer, having funds even temporarily lost would be a big inconvenience.

On the other hand, when you have a legitimate need to transfer funds, you want to be able to do it easily. Check with the bank. If you have a special need to have a limit increased for a short period of time, your bank may be able to accommodate a one-time override of its normal restrictions.

Published on BankingQuestions.com 6/05/08