RBC daily debit E-tranfer limits ?
Wanted to know if this is the same everywhere or if it’s just me. Here’s my situation for context.
I went to pay rent at my landlord’s head office yesterday and forgot my good old cheques. The woman at the counter told me I could pay by debit instead. Well, the transaction was denied because my daily limit on my RBC debit card is $1,000.
I’ve had that account since I was about 15, and I’m now in my 30s. I called RBC thinking maybe the limit had been set when I was younger, but the guy told me no, it applies to all accounts. Apparently, there’s no way to spend more than $1,000 a day on your debit card, even if you have $5,000+ in the account, other than requesting a temporary limit increase. He made it sound like this is the standard and the same for everyone.
I then asked about e-Transfers, and he said my limit was also $1,000. I asked if that could be raised permanently as i sometimes have to transfer big amounts over several days and got the same answer: impossible. I found that weird because Wealthsimple lets me transfer up to $3,000, and my wife can e-Transfer $1,500 with BMO. Apparently, nothing can be done to raise those limits permanently.
In this day and age, with rent and everything else getting more expensive, I find a $1,000 daily limit very limiting, pun intended.
I’ve been considering changing banks for a while and this might be the final nail in the coffin.
For those of you with RBC, was the guy telling the truth? are you guys limits the same ?
TL;DR: Tried to pay rent with my RBC debit card, but the transaction was denied because of a $1,000 daily limit. RBC told me the debit and e-Transfer limits can’t be permanently increased even though different institutions have higher limits. Is this really the case for RBC clients or is it purely subjective to them?