I received a letter form my bank to day. They have raised the daily limit on my debit card from 350 to 2500 dollars a day. This makes perfect sense if the banks are expecting a period of high inflation. They wouldn't want millions of costumers unable to use there debit cards because they exceed their limit on a pack of gum.

The letter did not explain how I was going to be able to replenish my checking account at a rate necessary to take advantage of this new limit.

Has any one else received a letter like this from their bank?

Originally posted by graysquirrel
I received a letter form my bank to day. They have raised the daily limit on my debit card from 350 to 2500 dollars a day. This makes perfect sense if the banks are expecting a period of high inflation. They wouldn't want millions of costumers unable to use there debit cards because they exceed their limit on a pack of gum.

The letter did not explain how I was going to be able to replenish my checking account at a rate necessary to take advantage of this new limit.

Has any one else received a letter like this from their bank?

I haven't received a letter like that, yet, but if they add a couple thousand dollars to my checking account, sure, I'll spend it. Okay, well maybe not; too much "small print." That already got a lot of people in trouble.

I noticed last year, the gas stations had raised their debit and credit card limits to $100. It was getting ridiculous when I went in to fill the work truck and the 55 gal diesel drum(for the skidsteer) and it took me about 15 times in and out.

No debit limit raise on mine, I raised it personally to the max $500 years ago.

I didn't know there was a limit on a debit card except how much I have in my account. I have spent thousands on it at a time and never had the bank tell me I had an issue.

Originally posted by graysquirrel
I received a letter form my bank to day. They have raised the daily limit on my debit card from 350 to 2500 dollars a day. This makes perfect sense if the banks are expecting a period of high inflation. They wouldn't want millions of costumers unable to use there debit cards because they exceed their limit on a pack of gum.

The letter did not explain how I was going to be able to replenish my checking account at a rate necessary to take advantage of this new limit.

Has any one else received a letter like this from their bank?

You may have something there, when inflation does happen people will need that ability to pay for items and 350 dollars may not be enough. And have many of you notice how the market has been taking off, I have a sinking feeling that it's being primed before the massive dump happens at the end of this year.

I remember when I use to utilize banks and had a debit card. I had a $300 daily limit. When I needed to get more than that out of an ATM I had to call the bank and request the limit be raised. They would bump it up to $3000 daily, but only for a 24 hour period then it would go back to $300 per day.
That was several years ago with BofA.

Maybe your bank increased your limit to encourage more spending?
Before the big financial fiasco I closed my account and destroyed my credit cards. If I need to use a credit card I load up a prepaid card. Otherwise I use cash. If I need to cash a check I go to the bank it was written from and cash it in person. I refuse to open any accounts or get any credit cards. I do my best to never provide any income to those thieving bastards ever again.


[edit on 11/10/2009 by bigdog36]

Mine has not been raised, still at $800. Though I hope I never max that lol. I do recall way back in March one Debit card was shut down because we bought a camera at Target for $250ish dollars..... the bank said they thought it was fraud.. I said, the Target was .25 miles from my HOUSE according to Mapquest, why the effing hell would you think thats fraud? No answer. No apology. Bastards.