Wells Fargo Has Just Announced a Very Important Change: Limits Across America

Wells Fargo and Bank of America have modified the rules of Zelle, the rapid payment platform that became popular in the United States. The new restrictions affect the amounts users can transfer both daily and monthly.

Zelle allows sending money in seconds using just a phone number or email, without needing to enter bank details. This ease has made it an essential tool, but security is a priority. For this reason, each bank sets its own limits for transfers.

Wells Fargo and the New Limits

The limits for transfers with Zelle can vary depending on the bank or credit union with which the account is held. Each financial entity has different policies, which means not all customers have the same limits.

For example, Bank of America keeps a limit of USD 3,500 per day and USD 20,000 per month. Other banks like Wells Fargo have a daily limit of USD 3,500 and a monthly limit of USD 20,000, which aligns with Bank of America's policy.

However, there are banks like Chase that have a limit that varies according to the type of account. For certain accounts, the daily limit can range from USD 500 to USD 10,000. Citibank offers a limit of USD 2,500 per day for accounts older than 30 days and a monthly limit of up to USD 15,000.

Some banks, like BMO Harris, allow USD 750 per day for instant transfers. Additionally, up to USD 1,000 for scheduled transfers, with a monthly limit of USD 5,000.

How to Increase the Zelle Limit?

If you need to make a transfer that exceeds the established limit, some banks allow an increase in these limits. However, this adjustment is not automatic and depends on the user's financial behavior.

In general, banks can increase the Zelle limit if the user has kept an active account. Also with a consistent history of transfers. Especially if these are recurring and made to the same recipients.

This limit increase is individual. If the limit is adjusted in one account, it will not affect other accounts or the user's contacts.

Factors Affecting Zelle Limits

There are several factors that can influence Zelle limits. Some of them are:

• The type of bank account held

• The available balance in the account at the time of the transfer

• The transaction and payment history

It is advisable to always check with the bank the limits before making an important transaction. Additionally, some banks may also set a weekly transfer limit, which can influence the amount you can transfer in a given period.

Security and Precautions

Despite being a fast and agile platform, Zelle also has its risks. Frauds are common when users are not careful. It is essential not to share bank details with strangers and always verify that transfers are made only to trusted people.

Each bank sets its limits as a measure to protect users and prevent fraud. These limits are a way to ensure that transactions are carried out safely and controlled.