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#212135 - 07/16/04 05:07 PM ATM Limits
Anonymous Unregistered	We have a transaction limit of 6 set on our ATM and debit cards, which is for security reasons. In this day and age we are finding that it is creating problems for more and more customers. I am interested in knowing what limits other banks have set?
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#212136 - 07/16/04 05:10 PM Re: ATM Limits
Wore Out Platinum Poster Joined: Dec 2003 Posts: 543 Kentucky	Is that 6 w/d's per day, per month...is there a limit on credit purchase with debit card? Also, do you have monetary thresholds on those w/d's? _________________________ Not even close to being legal advice....I have a bridge for sale too!
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#212137 - 07/16/04 05:18 PM Re: ATM Limits
Tricia Gold Star Joined: May 2004 Posts: 458 Smack dab in the middle of IL	Quote: Is that 6 w/d's per day, per month...is there a limit on credit purchase with debit card? Also, do you have monetary thresholds on those w/d's? I was wondering the same thing Qtip! My bank doesn't have a limit on the number of transactions, but we do have a monetary limits...$200 per day for ATM and $500 per day for debit card purchases.
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#212138 - 07/16/04 05:20 PM Re: ATM Limits
Wore Out Platinum Poster Joined: Dec 2003 Posts: 543 Kentucky	Tayles, Ours is practically the same. It's all monetary and not per transaction. _________________________ Not even close to being legal advice....I have a bridge for sale too!
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#212139 - 07/16/04 05:55 PM Re: ATM Limits
Andy_Z 10K Club Joined: Oct 2000 Posts: 27,750 On the Net	Unless you are allowing this to be tied to a limited withdrawal savings account, I have not heard of this. It is usually a dollar limit that is established. With the frequent use of cards today, this wouldn't be logical to me out of a DDA. _________________________ AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#212140 - 07/16/04 06:31 PM Re: ATM Limits
Greg Platinum Poster Joined: May 2004 Posts: 833 Michigan	Quote: Unless you are allowing this to be tied to a limited withdrawal savings account, I have not heard of this. It is usually a dollar limit that is established. With the frequent use of cards today, this wouldn't be logical to me out of a DDA. I agree with Andy. When we started issuing debit cards a number of years ago we had a daily transaction limit but it defeated the purpose - by the time you fill both cars with gas, hit a couple grocery stores, the movies and a restaurant you're done with the debit card until the next cycle so here come the $5 & $10 checks through proof. We set a dollar limit of $300 and dumped the 6 transaction limit and I've seen customers do 8 - 10 debits in one day and not hit $300! _________________________ If you approach life with pure logic you can avoid almost all of the fun.
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#212141 - 07/16/04 06:58 PM Re: ATM Limits
Anonymous Unregistered	Thanks for the responses. Initially when we started offering debit cards, possibly the trend was to set transaction limits, however, in this day and age, it is not feasible. I think it is time we reconsider. Thanks again.
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#212142 - 07/16/04 07:00 PM Re: ATM Limits
Andy_Z 10K Club Joined: Oct 2000 Posts: 27,750 On the Net	If the dollar amount is not also limited, you haven't reduced your risk, just your income, assuming you have fee/interchange income from these. _________________________ AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#212143 - 07/16/04 09:04 PM Re: ATM Limits
SHORT STUFF Member Joined: Feb 2004 Posts: 67 WISCONSIN	We have 10 transactions per day and their pre-set spending limit of $510.
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#212144 - 07/16/04 09:10 PM Re: ATM Limits
Andy_Z 10K Club Joined: Oct 2000 Posts: 27,750 On the Net	That would seem low at Christmas. _________________________ AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#212145 - 07/19/04 10:01 PM Re: ATM Limits
SHORT STUFF Member Joined: Feb 2004 Posts: 67 WISCONSIN	With officer approval, we can do increases in limits with corresponding balances. Either temporary or permanent.
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