Why do bank transfers have limits? How payment limits work
By SendPay Business · · 2 min read
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- 2Tap send and it is on its way
- 3It lands in their account
Almost every bank and money app limits how much you can send. It can be frustrating when you need to move a large sum, but the limits exist for good reasons, and there is usually a way to send more.
Why limits exist
- To reduce losses if a fraudster gets into your account.
- Because each payment system has its own maximum payment size.
- Because the provider has to check larger or unusual payments more closely.
- Because newer accounts often start with lower limits until the provider knows more about you.
Kinds of limit
Providers often set a limit per payment, a daily or monthly total, and sometimes a lower limit for new payees or for payments made in the app rather than online banking. Each provider sets its own figures, so check its help pages.
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If you need to send more
Ask your provider whether it can raise the limit for a one-off payment, often after extra checks. For very large sums, such as a house purchase, banks may use a different payment system that takes larger amounts. Splitting a payment to get round a limit can trigger fraud checks, so ask first.
Where SendPay fits
SendPay platforms let you launch accounts and transfers under your own brand, powered by licensed partners. Ask us how limits work for your platform type before you launch.
How it works
Your own money app- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
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Spotted a mistake or something out of date? and we'll fix it. How our guides are made
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.