Zelle daily and monthly transfer limits at banks [2024]
Did you know that more than 90% of consumers now use digital payments for their transactions? It seems that digital payments are now mainstream and embedded in everyday consumer activities and retail transactions. In fact, the 2023 McKinsey Global Payments Report indicates an accelerating trend towards digital payments, with cash usage declining and electronic transactions growing nearly three times that of the overall growth in payments revenue.
While credit cards remain the predominant form of digital payment, many consumers now prefer other options like Zelle, which are more transparent and flexible. Moreover, payment services like Zelle enable real-time transactions that help consumers manage their cash flows better.
If you’re looking into using Zelle as your preferred payment option, you’re in the right place. In this article, we explore how you can use Zelle for different financial transactions–personal or business. Read on to learn the max Zelle transfer limits and how to increase yours.
What is Zelle and how does it work?
Zelle is a peer-to-peer payment solution launched by Early Warning Services in 2017 to meet the rising demand for convenient, real-time access to funds. You’ll see its rise in popularity with the increasing number of payments processed by the platform over the years. From barely 500 million in its first year of service, Zelle has broken the 1-billion mark in 2020 and has since doubled that number, processing more than 2.3 billion transactions in 2022.
The appeal of Zelle is in its ease of use and transparency. It’s integrated into most banking apps (over 2,000 banks at the last count!), so you can easily access the service on the bank app you are currently using. Even in the unlikely instance that your bank does not offer Zelle as a transfer option, you may still use the platform by downloading the Zelle app. You can download and use the platform free of charge.
To use Zelle, you must:
- Enroll in Zelle using your mobile number or email address.
- Have a separate mobile number or email address for each bank account you want to enroll Zelle in.
With Zelle, you can send and receive money to and from any U.S. bank account. The transfers are processed instantly, making it a great payment solution for paying retail purchases, splitting bills with friends, receiving fees for services you render, and conducting several other real-time transactions. All you need to do is enroll your email or mobile number through the Zelle app or your bank app. Use Zelle for:
Look for Zelle in the banking app you use. If it’s not there, download the Zelle app from the Play Store or Apple Store.
Any money sent through Zelle is received by an enrolled recipient within minutes.
Zelle does not charge fees for sending or receiving money. However, you may want to check with your bank if they have fees associated with such transfers.
Zelle is essentially a money transfer service that moves funds directly between bank accounts, so there’s no need to maintain a separate minimum balance with Zelle.
Keep your bank account information private and receive money by sharing only your email address or mobile number.
Zelle daily and monthly transfer limits
How much can you send to Zelle? Well, Zelle sets a send limit of $500 and a receive limit of $5,000 per week. However, these limits are only for those using the Zelle app. Your bank is likely to have its own Zelle sending limit. Some of the factors that affect how banks set limits for Zelle transfers include:
Higher-tier accounts often have higher transfer limits.
Long-term customers may be granted higher limits.
Frequent users with a history of responsible usage might see increased limits.
It’s important to take note of the Zelle transfer limits your bank has set. Some of them may charge fees or even put your account on hold when you exceed the limits.
Zelle transfer limits at major U.S. banks
If you’re using a bank account under a major U.S. bank, they may have Zelle limits per day, per week, and/or per month. These limits may also be changed periodically at the discretion of the bank.
| Bank | Zelle transfer limits (for individuals) |
Zelle transfer limits (for businesses) |
Features | Restrictions |
|---|---|---|---|---|
| Bank of America | $3,500/day $10,000/week $20,000/month |
$15,000/day $45,000/week $60,000/month |
In-app, zero-fees use Money request or split bill feature on mobile app Zelle activity tracker |
Number of transactions limited to 10-20 per day, 30-60 per week, and 60-120 per month |
| Wells Fargo | $3,500/day $20,000/month |
*Businesses may apply for higher limits | No additional fees for Zelle transfers | Daily and 30-day rolling limits for sending money |
| Chase | (Tiered limits per day) Tier 0: $500 Tier 1: $2,000 Tier 2: $5,000 Tier 3: $10,000 |
(Tiered limits per day) Tier 0: $1,000 Tier 1: $5,000 Tier 2: $7,500 Tier 3: $15,000 |
No transfer fees Split charge option in the Chase app |
Must have a checking account to use Zelle |
| TD Bank | $1,000 to $2,500/day $5,000 to $10,000/month |
$1,500 to 3,000/day $7,500 to $15,000/month |
Higher limits for TD Private Client Group | Low transfer limits for instant money transfers |
| Citi | (New accounts) $500/day $2,500/month (Accounts older than 30 days) $2,500 to $5,000/day $15,000 to $20,000/month |
(New accounts) $1,000/day $4,000/month (Accounts older than 30 days) $5,000/day $40,000/month |
No transfer fees Zelle activity log |
Low transfer limits for new accounts |
| Capital One | $2,500/day | Not listed | In-app send and request money | Must be a Capitol One 260 Checking Account holder to use Zelle |
| PNC | Not listed, but available in the PNC Mobile app | Not listed, but available in the PNC Mobile app | Request Money, Send Money, and Split and Expense features Zelle QR Code function |
Potential fees for overdraft, monthly account services, etc. |
How to increase Zelle transfer limits?
If you use digital payments for most of your personal and business transactions, you may find the monthly or daily Zelle limit somewhat restrictive. Still, you might be able to increase your Zelle limit per day by doing the following:
- Contact your bank. Reach out to your bank’s customer service to inquire about increasing your Zelle limits. If you have a good account status and an active transaction history, you may be granted an increase in Zelle's daily limit.
- Upgrade your account. Consider upgrading to a higher-tier account or a business account, which often comes with increased transfer limits. For instance, the Zelle daily send limit Wells Fargo sets can be adjusted to suit specific business needs.
If your Zelle transfer limits cannot be raised, just make sure to manage your accounts well. Plan your transfers strategically to avoid going over your limits. Spread out larger payments over several days to stay within your daily limit and avoid potential over-limit charges imposed by your bank.
Comparison of Zelle limits with other payment systems
Still, considering if Zelle is the right digital payment service for your needs? Here’s a quick comparison of how it stands against other payment systems.
| Service Provider | Transfer Limits | Pros | Cons |
|---|---|---|---|
| Zelle | (using Zelle app) $500/week (send) $5,000/week (receive) | Instant transfers No additional fees |
Limited to U.S. bank accounts |
| Venmo | (unverified accounts) $299.99/week (verified accounts) $60,000/week |
High transfer amounts | 1.75% fee per transfer 3% fee for credit card transfers |
| PayPal | (for bank account transfers) $5,000/week |
International transfers No transaction limits for purchases |
Higher fees 2.90% fee for linked cards |
| Cash App | (unverified accounts) $250/week $1,000/month (verified accounts) $7,000/day $10,000/week $15,000/month |
Easy to use | Lower limits for instant transfers 0.5% to 1.75% fee for instant transfers |
Money transfers made simple with Zelle
For U.S. transactions, Zelle indeed offers one of the easiest and fastest ways to send and receive money. Integrated into thousands of banking apps, it provides quick access and real-time transfers without additional fees and maintaining balances. So, if you’re looking for a simpler way to manage money transfers, consider Zelle. You’ll be able to tell the difference in speed, reliability, accessibility, and convenience in your first Zelle transaction.
What are Zelle’s limits for new users?
Zelle app users can send a maximum of $500 and receive up to $5,000 every week. There is currently no option to request a change in these Zelle limits. For those using Zelle on their banking app, the amount would depend on the Zelle transaction limit set by their respective banks.
How often are Zelle transfer limits updated?
The limits on the Zelle app are pretty much set for now. However, your bank may periodically review their Zelle transfer limits and adjust yours depending on your account activity and relationship with the bank.
What to do if you exceed the limit?
If you exceed the Zelle limit, you’d need to wait for the next day, week, or month to make additional transfers. You may ask your bank to increase Zelle limit for your account if you expect to exceed the current limits.
Is there a fee for Zelle?
There is no fee to use Zelle. We do not charge fees for sending or receiving money through our platform. However, your bank or financial institution may have charges associated with such transfers. Get in touch with them to confirm related fees.
Can I use Zelle internationally?
Zelle is currently available for transfers between U.S. bank accounts only. You may access the service anywhere in the world, but you may only send or receive money through your U.S. bank account.
Sources: all third party information obtained from applicable website as of August 29, 2024
- https://www.mckinsey.com/industries/financial-services/our-insights/banking-matters/consumer-digital-payments-already-mainstream-increasingly-embedded-still-evolving
- https://www.mckinsey.com/industries/financial-services/our-insights/the-2023-mckinsey-global-payments-report
- https://www.statista.com/statistics/871706/zelle-payments-number-per-quarter/
- https://www.zellepay.com/faq/there-limit-how-much-money-i-can-send-or-receive
- https://www.bankofamerica.com/online-banking/zelle-faqs/
- https://www.bankofamerica.com/online-banking/zelle-transfer-limits/
- https://www.wellsfargo.com/help/online-banking/zelle-faqs/
- https://www.wellsfargo.com/online-banking/transfers/zelle-terms/#dollar-amount
- https://www.chase.com/personal/zelle
- https://static.chasecdn.com/content/dam/legal-agreements/library/en/chasenet_la/versions/chasenet_la.pdf
- https://www.td.com/content/dam/tdb/document/pdf/personal-banking/external-transfer-send-money-en.pdf
- https://online.citi.com/US/ag/zelle/p2pmarketing
- https://www.capitalone.com/learn-grow/money-management/how-does-zelle-work/
- https://www.pnc.com/content/dam/pnc-com/pdf/smallbusiness/zelle/zelle-terms-of-use.pdf
- https://www.pnc.com/en/personal-banking/banking/online-and-mobile-banking/zelle.html
- https://help.venmo.com/hc/en-us/articles/221010968-Personal-Profile-Payment-Limits
- https://www.paypal.com/us/brc/article/understanding-account-limitations
- https://cash.app/help/3122-increase-limits
- https://www.marketwatch.com/guides/banking/zelle-limits-at-top-banks/
- https://www.bankrate.com/banking/zelle-limits-at-top-banks/#transfer-limits
This article is provided for general information purposes only and is not intended to address every aspect of the matters discussed herein. The information in this article is not intended as specific personal advice. The information in this article does not constitute legal, tax, regulatory or other professional advice from IDT Payment Services, Inc. and its affiliates (collectively, “IDT”), and should not be taken or used as such by any individual. IDT makes no representation, warranty or guaranty, whether express or implied, that the content in this article is current, accurate, or complete. You should obtain professional or other substantive advice before taking, or refraining from, any action on the basis of the information in this article.
