Hit my limit...

[Medic624]

I bet if you lost your card or it became compromised, folks would be mad at their bank if there were no limits on the card and the account was wiped clean. Most accounts have limits on daily transactions associated with debit cards. These limits are always disclosed when the account is established and any changes are included in the 'junk' than comes in the mail. If I want to exceed my limits at BofA, I can walk into any branch and use my debit card with ID at any teller and the walk out with my money. Most institutions will allow you to change the daily limits if you ask. Seems some are upset because the bank is living up to the agreements they and the customer have agreed upon.

As I stated I knew there was a 1500$ limit for daily purchases and was in no way upset with the bank for honoring our agreement...in all it was a minor inconvenience that was fixed ... I simply do not believe that I should have regulated access to my own moolah... Like I said, Wells Fargo should run the Fed and do the same to Congress and the Senate.

All in all this is in no way for MY protection... it's to protect the bank... If 50,000 ppl all spent a few thousand daily from their checking acct. they'd probably have some serious problems...lol

[smoothoperator]

As I stated I knew there was a 1500$ limit for daily purchases and was in no way upset with the bank for honoring our agreement

There you go.

Like I said, Wells Fargo should run the Fed and do the same to Congress and the Senate.

Balanced budget or else!

[smoothoperator]

If 50,000 ppl all spent a few thousand daily from their checking acct. they'd probably have some serious problems...lol

What's the difference to the bank if 50,000 people walk in during business hours and withdraw that much from a teller?

[VoiceofReason]

If 50,000 ppl all spent a few thousand daily from their checking acct. they'd probably have some serious problems...lol

What's the difference to the bank if 50,000 people walk in during business hours and withdraw that much from a teller?

Busy teller!!!

[Zylo_X]

I bet if you lost your card or it became compromised, folks would be mad at their bank if there were no limits on the card and the account was wiped clean. Most accounts have limits on daily transactions associated with debit cards. These limits are always disclosed when the account is established and any changes are included in the 'junk' than comes in the mail. If I want to exceed my limits at BofA, I can walk into any branch and use my debit card with ID at any teller and the walk out with my money. Most institutions will allow you to change the daily limits if you ask. Seems some are upset because the bank is living up to the agreements they and the customer have agreed upon.

I am fully aware of the terms and conditions of use, and would gladly be responsible for any fault due to my actions. However, going into the branch for a transaction was not an option 'after hours', and I had already jumped through their 'security hoops' by calling in prior to attempting to use my card to access my money. The aggravation is that we get held to account, but they don't, and they can't even give you a straight answer. Just like politicians.

How so? You and the bank agreed to the Terms and Conditions and from what I read those T&Cs were enforced. While I will no way defend the actions (or lack of) by the customer service representative you talked to, the bank did honor their agreement to you. If someone is concerned about exceeding the daily limits of a debit card, using a check on a checking account normally does not effect the daily spending limits of a debit card. I can empathize with your frustration, however, I do not see that the bank is at any fault.

I hope you have the chance to finish any shopping you may have left and that you and yours have a very Merry Christmas.

The "How so?" is that I followed their 'security procedure' and they still ate my card, and I had no further recourse. Fortunately I always have a Plan B, but others might not be so fortunate. I did not try to go over the limit, I did not object to the security call in, and I followed their instructions, but they're so incompetent that I was told to go back (50 miles) on Monday to pickup a card that I was also told was destroyed. Just another example of being 'too big to care, not too big to fail'.

A Blessed and Merry Christmas to All.

[Lambda Force]

I bet if you lost your card or it became compromised, folks would be mad at their bank if there were no limits on the card and the account was wiped clean. Most accounts have limits on daily transactions associated with debit cards. These limits are always disclosed when the account is established and any changes are included in the 'junk' than comes in the mail. If I want to exceed my limits at BofA, I can walk into any branch and use my debit card with ID at any teller and the walk out with my money. Most institutions will allow you to change the daily limits if you ask. Seems some are upset because the bank is living up to the agreements they and the customer have agreed upon.

Maybe the banks should offer an opt in for no limits. Allow customers to pick a higher daily limit, or no limit, for debit card transactions in exchange for the customer accepting 100% liability for misuse of lost or stolen cards.

If I don't want to pay cash, I have a credit card with a $12,000 limit. I pay it off every month and sometimes more often. In four years I never paid an annual fee, no interest charges or other charges, and I don't have to worry if a restaurant keys in $2750 instead of $27.50 for dinner.

[lonewolf]

In all seriousness (is that really possible?) its easy to contact the bank and have them raise the daily limit. Especially if this is a situation one finds themselves in on a regular basis.