Transfer limit on credit union account?

[sheepstache]

I went to deposit a hunk of money into my credit union account and was told I had reached my limit.

Apparently, there's a $2500 monthly limit per customer for external transfers. For all your accounts. Transfer in or transfer out doesn't matter. It just matters that you're initiating it from the credit union's site. So, I can have direct deposit, I can use an atm, I can use something like Ally to request transfers in or out of my credit union accounts, I just can't use their "external transfer" system.

Why?? Why put limits on how much people can put it?

Would this have something to do with the cost of electronic transfers? Or is it some banking regulation that applies specifically to credit unions? I guess I've seen regulations about $10k and above transfers to deter money laundering, but $2500 in or out monthly seems so low. I had some big one-time costs put on credit cards that get paid out of this account and literally had to use another service to transfer enough money in. It's funny because it's one of those accounts where you need 25 debit card transactions to get a high interest rate. I guess you're just supposed to be getting all your cash infusions from your paycheck.

Does anyone else have something like this?

I can't even find it in the account paperwork. Just the usual limit on number of withdrawals from a savings account.

[K-Dogg]

With my credit union there is a daily transfer limit of $2,000, a weekly transfer limit of $3,000 and a monthly transfer limit of $10,000 for e-transfers. I believe these limits are just for out-going money too.

I can get money out separately by writing myself a check or using Tangerine's Move My Money feature. I just signed up with them last week and have exceeded those e-transfer limits this way without an issue.

$2500 for the month seems ridiculously low. Might be time to change credit unions or open up with a bank or something like Tangerine.