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Capital One 360 New ACH external transfer limits

508 668 June 13, 2018 at 01:04 PM
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Last Edited by quicktek June 13, 2018 at 01:08 PM
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Received this vague email from Capital One for my 360 savings (formerly ING Direct) which basically says there will be new limits on external withdrawals/deposits, but doesn't tell you how much they are and they can change whenever they feel like it. What in the world? Between this and them selling out to ETRADE, I'm thinking of looking for alternatives



Quote :
Starting August 1, 2018, you'll have new ACH external transfer limits.
Keep reading to understand how to manage your transactions.


Security is a top priority at Capital One®. So as of August 1, 2018, we're changing the limits for ACH external transfers to better protect your accounts.

Automated Clearing House (ACH) External Transfer Limits: Your 360 accounts will now be subject to limits on the amount of electronic transfers between your account and external accounts at other financial institutions. These limits are designed to be flexible in order to protect the security and integrity of the service and accounts, as well as you and all other users of the service. Based on confidential fraud and essential risk criteria, they may be modified at our discretion without advance notice.

What transactions will this impact? ACH external transfers are electronic deposit and withdrawal transfers made between your Capital One accounts and your linked external accounts.


What happens if I need to exceed the limit? At Capital One, ACH transfers are just one way to move money. So if you have a transaction that exceeds your limit, we'll try to help you find an alternative that meets your needs.As always, thanks for banking with Capital One.

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Joined May 2017
L6: Expert
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#2
they are trying to protect your account from fraud,i would not worry about it until you send money abroad,to a Nigerian prince,its also probably due to money laundering rules by the government on Mexican cartels or kidnappers if you go to mexico
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Joined Nov 2006
L4: Apprentice
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#3
I received the same email. Whats is the limit though?
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Joined Jun 2008
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#4
I was looking all over their website for actual numbers.
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Joined Jun 2014
L5: Journeyman
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#5
It used to be they allowed up to 4 external account, so if there's a change they may decrease it to 3 or just 2.

the best thing that happened to me two years ago was when they removed GoBank as external account saying they do not allow prepaid cards; just weeks thereafter, they closed my account. That was the best thing that happened to me since I found other friendly CUs to use as hub for bank churning.
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