Zelle Limits at Top Banks: Daily and Monthly
Mobile payment tools make it faster and more convenient for you to send and receive money for personal and business purposes. Along with Venmo, PayPal and Cash App, Zelle is a platform that allows you to send money from your bank account to an intended recipient with no fees attached.
Here’s a closer look at how Zelle works, its limits at many of the country’s top banks and what you can do if you reach these monthly and daily limits.
If your financial institution offers Zelle, you should contact it directly to inquire about its daily and monthly sending limits. If your bank or credit union does not provide the service, you must download the Zelle app to send and receive payments. In that case, your weekly send limit is $500. Please note that you cannot request to increase or decrease your send limit.
Who Can Use Zelle?
Your bank must have a partnership with Zelle for you to access this feature. More than 1,000 financial institutions in the U.S. offer Zelle to their customers. Financial institutions typically incorporate Zelle’s capabilities into their mobile banking apps.
If your bank doesn’t offer the service, you can download the Zelle mobile app on your smartphone or tablet and open an account, which will allow you to receive and send payments.
How Does Zelle Work?
There’s a specific process for sending or receiving money through your bank’s mobile app. Here are the steps to follow.
- Choose your recipient. Due to increasing Zelle fraud, you should only send money to people you know and trust. Scammers often use payment apps, including Zelle, to conduct fraudulent activities, because it’s hard for banks to trace these transactions back to the source. So you should only send money to people you’ve met in person, like repaying a family member or friend or paying a service provider, like a hairstylist or maid.
- Obtain the recipient’s phone number or email address. Anyone with an account at a U.S. financial institution can receive money through Zelle with their phone number or email.
- Decide your payment amount. Your Zelle limit depends on your bank or credit union. If you want to send a large amount consistently, you may need to find an alternative payment option.
- Send the money. Your recipient will typically receive the money in minutes if they are already a member of Zelle. They’ll receive instructions on obtaining the funds via email or text if they are not enrolled.
- Verify the payment. You should always follow up, contacting the recipient to make sure they received the money. You should also check your bank account to ensure it deducted the proper amount from your account.
Your recipients do not need to disclose their banking information to receive your payment.
Good To Know
Many of the nation’s largest financial institutions, including Bank of America and Wells Fargo, are pushing for Zelle to become an accepted form of payment at online retailers. Plan skeptics argue that Zelle should make its network safer for consumers before the platform is made available to the larger retail market.
What Are Zelle Limits at National Banks?
Financial institutions are responsible for setting daily and monthly limits for account holders. Banks often have different limits on how much users can receive or send.
The following table lists the daily and monthly Zelle limits at some of the country’s largest banks.
|Financial Institution||Daily Limit||Monthly Limit|
|Wells Fargo||Up to $3,500||Up to $20,000|
|Capital One||Up to $2,500||Varies|
|Bank of America||Up to $3,500||Up to $20,000|
|Chase||– For personal checking accounts: up to $2,000
– For private client and business checking accounts: up to $5,000
|– For personal checking accounts: up to $16,000
– For private client and business checking accounts: up to $40,000
|TD Bank||– Instant transfers: up to $1,000
– Scheduled Transfers: up to $2,500
|– Instant transfers: up to $5,000
– Scheduled Transfers: up to $10,000
|Citibank||– New enrollment accounts: up to $500
– Existing Accounts: up to $2,500
|– New enrollment accounts: up to $2,500
– Existing Accounts: up to $15,000
Please note that these limits may vary depending on your account status.
What Are Some Alternative Options if You Hit Your Zelle Limit?
Many person-to-person payment methods set limits for users because it’s difficult to recoup money if it’s sent to the wrong place. Zelle limits how much you can send in 24 hours and during a 30-day period. These limits are relatively easy to meet, especially if you use Zelle for business purposes.
There are other ways to send money if you hit the Zelle limits. Here are some alternatives to consider.
Try Another Payment Platform
Many payment platforms allow you to send instant transfers to anyone with a smartphone. Popular applications include Venmo, PayPal and Square. Many of these services charge a small fee to send money, and users need an account to receive the money. It takes a few days to set up an account with services like Venmo because of the verification processes in place.
Write a Personal Check
While personal checks may seem outdated, they are an excellent alternative to peer-to-peer transfer apps if you need to send a large sum of money. Most banks even allow users to deposit checks using a smartphone by snapping a photo.
While many people do not always have a lot of cash on hand because of the popularity of debit cards, you can always make a trip to the ATM to withdraw some money. In fact, many people enjoy receiving cash to have it on hand to cover incidentals such as bus fares and parking fees.
Use a Payment Retailer
There are ways to send money without the need for a smartphone app. Western Union and MoneyGram, for instance, allow you to send money by visiting an authorized retailer and funding the transaction with cash or a debit card. Your recipients can pick up the money by visiting a retailer and providing their name and the transaction number.
Wait a Few Days
Waiting 24 hours or 30 days until you are back under Zelle’s payment limits is the slowest strategy, but it may be necessary if you want to send a large payment. Holding off is likely the best option if you only need to wait a day to send the payment.
What Are the Benefits of Using Zelle?
One of the most significant advantages of using Zelle is that there are no fees to send or receive money. Most competitors charge a small fee if you use a credit card to send money, while others charge to transfer funds received to a bank account. Zelle is able to offer the service at no cost to customers because money is sent directly between bank accounts with no middleman.
While there’s no cost to use Zelle, you can only use your checking, savings or debit card to send or receive money, and you can’t make credit card payments. To be sure, you should check with your bank or credit union to make sure it doesn’t charge extra fees for using the Zelle feature.
Another benefit of using Zelle over another payment application is the instant nature of the service. The money is immediately transferred to your recipient’s bank account because there’s no intermediary. It takes a few days to transfer funds from the app to a bank account with other services. Other platforms that do offer instant transfers charge a fee for the service.
FAQHere are some of the most common questions asked about using Zelle.
- Can I get paid with Zelle?
- While Zelle is a popular way to send money, it's also an easy way to receive money from individuals, companies, government agencies and even academic institutions. For instance, it may be possible to request payment via Zelle if you are owed a refund from a university or government agency. Sending money through Zelle is free for both parties and quickly ensures you get the funds.
- Can I use Zelle on a computer?
- You can use Zelle on a computer if your bank lets you send or receive payments via its online banking platform. If your bank does offer the service, you will need to download the Zelle app to send money. The Zelle app is only accessible on a smartphone or tablet.
- Can businesses use Zelle?
- Just like PayPal, any individual or business with an account at an institution that uses Zelle can use the feature to send or receive money. Many business owners use the service to send and receive money because there are no fees involved. You may want to encourage your customers to send payments via Zelle if the amount is within their daily Zelle transfer limits. It may be necessary to accept other methods for large payments.
- Can I send $5,000 through Zelle?
- The amount you are able to send through Zelle depends on your bank's set limits. Many banks allow you to send $5,000 in a month, but not in one day. Check with your financial institution to find out your daily and monthly sending limits.
Information is subject to change.
Editorial Note: This content is not provided by Zelle. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Zelle.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.
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