There are several limits on what you can spend daily and monthly. "Monthly" means a rolling 30-day period. The cumulative spend limit includes card transactions, payments, ATM withdrawals, and cash advances, but does not include interbank transfers or treasurer's checks.
| Transaction Type | Daily Limit | International Daily Limit | Monthly Limit |
|---|---|---|---|
| Card Swipe | $6, 000 | $1, 000 | $20, 000 |
| $5, 000 | $18, 000 | ||
| $500 | |||
| Cumulative Total | $8, 000 | $38, 000 |
*Please note—the cash advance limit includes any ATM withdrawals made that day.
Transfer Limits
You can transfer up to $5, 000 out of Simple and $5, 000 into Simple in the 30 days after your account has been approved. This is a cumulative limit for first month.
After your account has been open for 30 days, you can transfer up to $10, 000 per day, and $30, 000 per month.
You can send a total of $2, 000 in the first 30 days after your account is approved.
Once your account has been open 30 days or longer, the daily limit will increase to $2, 000, and the monthly limit will be $10, 000.
What if I need to make a large purchase?
The whole point of saving more is so you're able to make purchases that matter. Sometimes, those purchases may exceed these limits. There are a few ways to get virtually unlimited amounts of funds out of your account.
If you know how much you'll need a few days in advance, a treasurer's check is the way to go. You can also initiate an ACH debit from another account. The limits on our External Accounts feature do not apply to transfers initiated by another entity.
One thing to keep in mind is that certain payments (such as the downpayment on a house) may require a large check on extremely short notice. If you're on the market for something like this, it might be worth considering opening up an account at a local bank. Although branchless banks admirably work for most life circumstances, sometimes you need a service that only physical branches can offer. If you're not sure if this will be necessary, send us a support message send us a support message send us a support message or give us a call at 888-248-0632 so we can talk over the options together.
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