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Is there an upper limit to the amount of money a not-for-profit is allowed in a Bank account?
Wiki User
∙ 13y ago
No bank in any country around the globe can limit the amount of money that can be deposited into its accounts. It is your money and you can deposit it anytime you want and with any bank you want. If the amounts are huge, the banks may ask you to provide a source of income for regulatory reporting purposes. But, they can never say No to a deposit or set any limits on the same.
Wiki User
∙ 13y ago
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What is the limit that you can withdraw at one time from your bank account?
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What is an overdraft limit?
Overdraft limit refers to the limit to the amount of money a customer can withdraw from his account even though there is zero balance in his account. For example, large companies get this features of OD by pledging shares of their company with the bank. The company has a month's time to pay back the OD amount failing which the bank can sell the shares to recover the money.
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How much money can you transfer through ATM?
Most bank usually limit the amount of money that can be transferred on a daily basis and they are called transactional limits. For ex: Your bank may limit a single transfer to $5000 per day. If that is the case you can transfer a max of up to 5000 dollars per transaction per day. However, if your account has lower amount of money, the limit is usually the amount of funds available in your account. In that case, the bank will allow you to transfer up to your withdrawable balance from your account.
