Has your debit card daily limit just been raised?

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 hope so! I'm totally maxed out now!
No letter for me yet......
I am an average americant!
I 'cant' save a dime and I owe 10,000 dollars on my ONE credit card!
(kidding)
The most amazing thing is, we think this is all normal and junk!

Throwing good money after bad and paying my money to the banks
is the way I roll. Boy I'll show them banks who boss huh?

The average American household with at least one credit card has nearly $10,700 in credit-card debt, according to CardWeb.com, and the average interest rate runs in the mid- to high teens at any given time.

money.cnn.com...
Sorry, my sarcastic switch is broke off in the on position!

[edit on 10-11-2009 by dodadoom]

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.

reply to post by dodadoom


dodadoom

I enjoyed your response. However, I want to point out that I said and meant debit card and not credit card.

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.

reply to post by graysquirrel

Oops sorry!
Must be getting late. I'm not reading it right!
Thats twice now....I caught myself the first time!
Happens when you get old.....
Between putting my foot in my mouth and all the typos I better quit for the night!
Reading all these posts on ATS wore my eyes plum out!
$2500 limit on a debit card?
You must be loaded!
Are you single?....I'm kidding!
Thanks for the thread, for setting me straight and for sharing!

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.

reply to post by whoshotJR


Yeah I agree, I had no idea debit cards had limits. I have an american express credit card, yet I never use the thing

reply to post by whoshotJR

I didn't know either and thats also my point.
I know I have a $300 a day ATM limit on my card.
Never tried to just debit some huge amount all at once.
I thought when it gets approved for the sale,
it is limited by whats in your account!

If you dont have enough in your account for the transaction,
does the bank cover it for you or how does that work?
Obviously I'm not a banker.
If I was, I'd probably be so rich I wouldn't need to care in the first place.....

Hey Scooby!

[edit on 10-11-2009 by dodadoom]

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.

reply to post by graysquirrel


are you meaning the amount you are allowed to withdraw from a machine per day ( most accounts ive had have been £250 - £350 limits in uk)

thats quite a step up to from 350 to 2500 !!

like, stupidly massivE!

you should phone up and complain about it, demand it goed back down ,mainly to see if they let some inside info slip on why it was raised,. !

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]

reply to post by boaby_phet


The letter clearly says purchase limit. It says nothing about cash withdraws.

I do remember a long time ago I tried to mail order something over 350. I got a nasty phone call from the merchant claiming I had a bogus card. I never tried that again.

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.