How To Change Weekly Limit in Zella
Zelle is a digital payment network connecting millions of people to safely and securely process peer-to-peer payments. Since it’s incredibly useful for many reasons, it can be very easy to accidentally hit your weekly Zelle spending limit without even trying. With Zelle processing so many of your payments, it’s likely necessary for you to raise your weekly spending limit.
If you want to learn more about Zelle’s weekly spending limits and how to raise yours, keep reading.
How to Change Weekly Limit on Zelle
The amount of funds you can send using Zelle during a given period depends on some key factors. Zelle’s primary concern when limiting your spending via their platform is fraud protection. Keep reading to understand the various factors playing into our spending limit.
Raising the Limit
The biggest concern you may have is how to raise your Zelle limit. If you use just the Zelle app without going through a bank, you have a $500/week spending limit. This cannot be raised or lowered at any time.
However, if you use Zelle through your bank, either on the banking mobile app or website, you have much more freedom on your spending limit. To raise your limit, you will have to contact your bank directly. They will assess your accounts and spending to provide a fair, safe limit raise in your Zelle account.
The bank will look at various factors to set your Zelle spending limit. This is done much the same as a credit card limit. The bank looks at your accounts when determining your Zelle limit. Factors such as account and online banking history, your spending activity, and even who you send your Zelle payments to.
The fastest way to raise your Zelle account spend limit is to maintain good account health. For more information about increasing your weekly spend limit, you will need to contact your bank directly.
The best way to raise your Zelle spending limit would be to upgrade your bank account. Many banks tie the Zelle spending limit with your account type. The more junior or basic your account, your spending limit will be lower. A bank account that has a maintenance fee is also more likely to have a higher limit.
An excellent example of this would be for Zelle customers with Citibank accounts. If you have a Basic Citibank account, you’re Zelle spending limit would be around $2,000/day or $10,000/month. Likewise, the Priority Citibank account could have a Zelle spending limit of about $5,000/day or $15,000/month.
Upgrading your account within the bank would increase your Zelle account limit. However, ask your bank for the specifics in the account limit raise. Every customer could have a different experience based on their account history.
You should also consider moving banks if possible. You may be able to find a bank account similar to what you already have, but that has a higher Zelle spending limit than the one you currently have.
Time In, Time Out
A final way of increasing your Zelle spending limit is simply time.
Some banks require that customer accounts reach a certain age before they are willing to give a higher Zelle spending limit. The example above quoted several Zelle spending limits for accounts at Citibank. However, those limits were for accounts that have been with Citibank for more than 90 days.
For Citibank accounts younger than 90 days, the Zelle spending limit was significantly reduced.
Luckily, most banks have a short waiting period for accounts to reach maturity and gain a significant increase in Zelle spending limits. The most common is 90 days, but you shouldn’t be surprised if you see time limits of 120 days or longer. It all depends on the bank, account type, and the individual customer.
Account spending limits can be frustrating, especially if you’re trying to send a single, once-in-a-lifetime style payment. Perhaps this payment is far more than you usually send through Zelle, and you don’t plan on making this payment frequently. You may wonder if there is a way to skip past the waiting period after you hit your spending limit.
Unfortunately, there is not. Even if you contact the bank directly, there is nothing they can do to speed up the waiting period to when you’re eligible to spend again.
Zelle & Spending Freely
Zelle can provide remarkable financial freedom and security with fast cash-only transactions and an easy-to-use system. While spending limits may occasionally cause a nuisance, they are ultimately there to protect your money. The best way to raise your Zelle spending limit would be to call your bank and see what they recommend.
Have you ever successfully raised your Zelle spending limit at your bank? Tell us in the comments how you did it!