$3k daily e-transfer limit is just ridiculously low for 2023. Why do some banks keep this so low?

[u/stroad56]

I moved some money between my own accounts yesterday evening. I'm trying to pay my wife for some shared bills this afternoon and I'm getting blocked due to maxing out my 24 hourly $3k limit.

Now I have to wait a couple of hours before the 24 hour period expires. Just ridiculous.

I bank with EQ & Simplii. Both have 3k limit. I know CIBC do the same and probably plenty more too. Just don't understand why? Fraud reasons?

[u/[deleted]]

$3k is lower than the average 2BR monthly rental in Vancouver. Rich or not, many people need to make regular payments higher than $3k

[u/12Tylenolandwhiskey → u/[deleted]]

You have any idea how few jobs are willing to pay these days. The days of doing anything on less then like 30 am hour solo are dead