NAB Daily Transfer Limit dropped from $20,000 to $300 for No Reason.
Having been doing regular payments to various people and companies for the last couple of years, figures often between $1,500 and $5,000, with some smaller ones, I was a bit taken aback today when going to pay the rent.
The NAB banking app told me I was over my daily limit.
I apparently now have a $300 daily limit !! And I was trying to pay rent of about $1,700.
It took me a while before I understood what had happened, although I still have no idea why.
My daily limit was cut from $20,000 to $300 for no reason.
I was able to get it changed back online to $5,000, but as I have a $10,000 transfer coming up it seems I need to visit the bank and find out what happened and get it put back to my normal limit.
I am not singling out NAB as the worst bank, as I have had problems with almost all banks, some much worse.
I will find out why this has happened, and I am curious to know if it has happened to others too.