debit card limits?

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I'm looking for a debit card that will allow me to make regular large purchases. Since the money's in the account, this shouldn't be a problem (in principle), but in practice my friends have had to call their bank to get anything approved over a few grand.

Do you have a high "credit limit" debit card? Please share the bank, the limit, and if non-obvious, what it took to get that.

Thanks!

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That's interesting given most ATMs have their own limit per tranaction unrelatd to the card used.

JW (Apr. 21, 2010 @ 11:11p) |

Star Financial Bank in Indiana is $2,500 total transaction per day after having an account open for a year. Also, All ba... (more)

gpatrick901 (May. 02, 2010 @ 8:32a) |

Just got a new debit card from chase its a Branded Premmium United MP debit card, it has a $5k daily purchases and $500 ... (more)

davef139 (May. 23, 2010 @ 3:14p) |

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debit card retail POS limits are notoriously low

IIRC the biggest one ive ever seen is $2000 per transaction and $7500 per day. I think it was chase

Woodforest bank allows $30,000 a day. They are a small bank but yet allow big transactions. Odd

why would you not get a credit card with good rewards? (I've never seen a debit card match the best credit card rewards) Make a payment shortly after the charge hits.

Bank of America, Citibank and Chase all offer high limits ATM cards on their premium accounts ie BOA Platinum Visa, Citigold world master card and Chase Signature Visa ATM.

The problem is getting those ATM cards require you to have a premium relationship which requires $100-500k in assets with them or bank loans of $250k-500k depending on the bank.

The limits are $10-25k per day combined between pin transactions and signature transactions depending on the bank. Cash withdrawals limits are also between $5-10k a day at ATM on those ATM cards depending on the bank.

The highest limit ATM card is offered by Citibank on Citigold accounts with $500k in assets at $25k per day combined pin and signature transaction and $10k a day ATM withdrawals limit per day. And Citibank ATM gives Thank You points on both pin and signature based transactions too.

It's a matter of a personal conversation with your banker. The banker can set the limit based on your average account balance. My cash is set in the middle 3 digits. My spending is 4 digits.

chrishaw said: why would you not get a credit card with good rewards?
I have a CC with good rewards, but sometimes the CL's aren't big enough for your big purchases and it's hard/risky to get CLI's in today's credit environment. I was hoping with a very big bank balance I might be able to use a debit card to make purchases larger than my best (rewards) CL.

Check schwab, I got instantly approved (automatically for 3k) when i had very little in my account. I wouldn't be surprised if they would substantially up that upon request if you're willing to develop a relationship with them that would make them comfortable. (i'm thinking that if your planning on say charging 10k per purchase, that they'd want you to have at least 2-3 times that average in your accounts with them - though i have no idea!).

Good luck.

000Spike has a good thought, but I prefer the Fidelity Signature Visa. If your assets are that good, you should be able to get what you want. Even if you get nixed on the auto=approval system, they give you a phone call to discuss your wants needs and ability to repay. It took such a conversation, but I got one.

The kicker for ANY card (CC or debit) is the threahhold for a "positive ID check". IF you do a 4 diget purchase, you could easily trigger it. We did some on some famous successful people when I was in CC security.

You are taking on a security risk by having a really high debit card limit. You have little recourse once the money is gone from your account. I'd stick with credit if I were you.

You would probably like the Schwab Platinum Debit Card which is what you would get if you open Schwab Investor Checking (requires also opening the Schwab One Brokerage but you don't have to use it if you do not want to)....

Their Debit Card gives up to $1000 in Cash withdrawals and $15,000 in debit card purchases per day...plus the account gets you unlimited free checks, and unlimited atm rebates as well...
In addition, this debit card actually has all the perks offered by Credit Cards...such as: extended warranty, purchase protection, price protection, travel insurance, etc...

Would not only fit your requirements but go way beyond them

craig10x said: Schwab Platinum Debit Card ... $15,000 in debit card purchases per day... Would not only fit your requirements but go way beyond them
Heh, I have high requirements. My best card back CC has a $15K CL, so for most stuff I'd just use that. Now for those $50K purchases...

wow...you want $50,000...that's going to be pretty tough to find (if at all)...

Why not just overpay your schwab visa by 50k or so and then make all the purchases you want with 2% CashBack?

Such large overpayments WILL redflag the account faster than the speed of light!! (former credit card sercurity agent)

I used my Citibank debit card in Vegas. One phone call requesting that the limit me eliminated took care of it until I called back to reinstate it. This was for a low-balance account

JW said: Such large overpayments WILL redflag the account faster than the speed of light!! (former credit card sercurity agent)

And what would happen? Surely the credit card company won't have a problem with you giving them free money.

UseTheForceJesus said: JW said: Such large overpayments WILL redflag the account faster than the speed of light!! (former credit card sercurity agent)

And what would happen? Surely the credit card company won't have a problem with you giving them free money.


They have a problem with people trying to launder money though.

I have found going to your B&M bank you do business with in person and applying is prob the best way to talk into a large limit if they are having trouble getting the lines they want. While you may get passed up on bonuses and such, but being there explaining things face to face seems to go a long way.

PayPal is 3k daily limit

If you are serious about greater then 15k purchases trying to pay with a cc for rewards isn't smart business as you can easily talk greater then 2% discount for cash

dolmar said: Bank of America, Citibank and Chase all offer high limits ATM cards on their premium accounts ie BOA Platinum Visa, Citigold world master card and Chase Signature Visa ATM.

The problem is getting those ATM cards require you to have a premium relationship which requires $100-500k in assets with them or bank loans of $250k-500k depending on the bank.

The limits are $10-25k per day combined between pin transactions and signature transactions depending on the bank. Cash withdrawals limits are also between $5-10k a day at ATM on those ATM cards depending on the bank.

The highest limit ATM card is offered by Citibank on Citigold accounts with $500k in assets at $25k per day combined pin and signature transaction and $10k a day ATM withdrawals limit per day. And Citibank ATM gives Thank You points on both pin and signature based transactions too.

I checked with Citi, where I have some sort of gold account (unclear), and my default daily limit was $7500. They said I could call in and ask for 1-time exceptions too. Perhaps when I move over some more cash, I'll talk to them about bumping it up a little permanently.

That's interesting given most ATMs have their own limit per tranaction unrelatd to the card used.

Star Financial Bank in Indiana is $2,500 total transaction per day after having an account open for a year. Also, All banks & CU count weekends & Holiday's as one long business day.

Some banks have different limits depending on how you use the debit card
pin atm transaction
pin point of sale transaction
Signature point of sale transaction

Note very few banks & cu still charge for a pin point of sale transaction.

Most ATM owners can set the maximum withdraw limit, regardless of what your bank limit is.

Just got a new debit card from chase its a Branded Premmium United MP debit card, it has a $5k daily purchases and $500 atm limit.



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