How to increase your debit card spending limit

Regardless of the amount of cash in your checking account, daily debit card restrictions can lead to transactions being rejected.

Daily debit cards limits are usually several thousand dollars, but they vary from bank to bank. Those who use debit cards regularly and occasionally buy bulks can request higher daily debit cards limits from the bank.

There is everything you need to know about debit card restrictions.

What are debit card restrictions?

A debit card spending limit is the maximum amount you can use your debit card in one day. These restrictions are set as security measures by banks or credit unions to protect your account from fraudulent activity by preventing sudden, excessive purchases.

Unlike credit cards, debit card restrictions are usually not displayed on statements or mobile apps. To check your daily spending limits, you can:

• Call your bank’s customer service line
• Check out our local branches
• Please check your account agreement or disclosure documents
• If available, contact your bank using secure messaging on your bank’s website or mobile app

Knowing your limits in advance, especially before making a large purchase, can prevent a decrease in transactions and save time. Also, keeping your daily debit card limits at a level appropriate for your spending can reduce the amount you can spend on debit card stolen or debit card information in one day.

How to increase your debit card limit

1. Call the bank and ask for daily restrictions changes

Contact your bank to see if you want to increase your daily debit card limit with signatures and PIN-based purchases.

There are individual debit cards and ATM withdrawal restrictions. Therefore, if withdrawing large amounts of cash is a concern, ask that you change your daily ATM withdrawal limit.

2. Consider whether a permanent or temporary change is required

Banks can ask whether the limit changes will be permanent or temporary.

“One-time, large purchases guarantee a temporary increase in limits,” said Bankrate Chief Financial Analyst at CFA Greg McBride. “After that purchase, the limit can return to what it is, reducing the risk of mass being illegally emitting from your account.” For example, a large one-off purchase, such as an engagement ring, may not guarantee an increase in the limits of permanent daily debit cards.

However, some consumers may want to reduce the daily debit card limit.

For example, parents who share a joint checking account with students can ask the bank to reduce student daily debit card limits and prevent students from spending too much. It also helps to limit the likelihood of overdraft fees being incurred.

“Searching for a reduced daily debit card limit may be a good way to keep up with excess spending, either by yourself or by co-accounting,” says McBride.

Debit card restrictions at the bank you use

These are the default daily spending restrictions at some well-known banks and credit unions. Some banks have set separate restrictions for cash withdrawals at ATMs. In the table below, we note that banks include ATM withdrawals Inside That debit card spending limit. Otherwise, I only list signatures and pin-based purchase restrictions using a debit card, not ATM withdrawal restrictions.

You may be able to increase these spending limits by contacting your bank.

Note: The above restrictions will be collected on June 9th and are subject to change at any time. Limitations may vary based on checking account type, customer status, or specific card features. Always check your bank for debit card restrictions.

Alternatives for making large purchases

Even with proper debit card restrictions, debit cards aren’t always the best option when paying for bulk purchases. Consider alternatives when making large purchases such as:

• Credit card. Credit cards also have restrictions on credit cards, but credit cards can be an option for those looking to repay large purchases in increments. Note that the balance carried over each month will earn interest. If you have the funds, pay off your credit card bill immediately to avoid interest charges and undertake the debt. Or create a payment plan that you feel comfortable and confident in so that you can make those payments (including interest) within the time frame.
• wire transfer. You can electronically transfer money from one bank account to another via wire transfer. Please note that each bank may charge fees for incoming and outgoing wire transfers. Usually, it is an instantaneous transfer of money between accounts.
• Personal loans. If you have a large amount of lumps you need right away, you can use a personal loan to cover your costs. Whether you are covering an emergency or consolidating your debt, you can use a personal loan. Interest rates can vary widely, and accepting new debt means committing to monthly payments that could put a strain on your budget.