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- Checking accounts and many money market accounts come with traditional debit cards.
- Most financial institutions will allow you to spend between $300 to $50,000 daily on debit cards.
- If you're making a big purchase but want an extra layer of security, use a credit card instead.
Debit cards make for an easy way to make purchases — you're not borrowing credit, and your money is all safely stored at an FDIC-insured financial institution. While debit cards are beneficial to use, they may not be ideal for all purchases, though.
Debit cards have limits on how much you can spend daily. Sometimes, it also might be better to use a credit card instead. We'll walk you through what you need to know about debit cards, purchase limits, and how to manage them efficiently.
What kinds of debit cards are there?
There are two types of debit cards available at financial institutions: traditional debit cards and prepaid debit cards.
- A traditional debit card usually comes as part of a checking account or money market account. With a traditional debit card, you may withdraw money from your bank account and use it at any time.
- With a prepaid debit card, you put a certain amount on the debit card before you use it. A prepaid debit card may be reloadable, but it's usually not linked to a checking or money market account.
Debit card purchase limits 25 of the biggest financial institutions
Financial institutions set limits to make sure your money is safe. As a result, debit cards come with daily spending limits. Below, you'll find debit card purchase limits from 25 of the biggest financial institutions.
| Financial institution | Debit card purchase limit |
| Alliant Credit Union | $300 to $2,000 |
| Ally | $5,000 |
| Axos Bank | $2,500 |
| Bank of America | $1,000 to $5,000 |
| Bethpage | $2,500 |
| Capital One | $5,000 |
| Chase | $400 to $7,500 |
| Citibank | $5,000 to $50,000 |
| CIT Bank | $1,500 |
| Citizens Bank | $500 to $15,000 |
| Discover Bank | $2,500 to $5,000 |
| First-Citizens Bank | $7,500 to $10,000 |
| Huntington Bank | $520 |
| KeyBank | $3,000 |
| Navy Federal Credit Union | $3,000 to $5,000 |
| Pentagon Federal Credit Union | $2,500 |
| Quorum Federal Credit Union | $1,000 |
| Regions Bank | $5,000 |
| SoFi Bank | $6,000 |
| Security Service Credit Union | $12,000 |
| TD Bank | $2,000 |
| Truist Bank | $3,000 |
| U.S. Bank | $1,000 |
| Wells Fargo | $600 to $10,000 |
| Wings Financial Credit Union | $2,500 |
If you plan to make a purchase that exceeds your daily limit, the best banks and credit unions allow you to request a temporary increase in advance.
What is a debit card good for?
Marguerita Cheng, CFP, RICP, and chief executive officer at Blue Ocean Global Wealth, says debit cards are ideal for beginners learning to budget and manage money independently. "I think debit cards can be really helpful when people are starting their first job, or they're a young professional, and their finances aren't as complicated," says Cheng.
Cheng says debit cards may not be the best option for purchases that need additional security, like electronics. If you're making a big purchase, a credit card often serves as a more suitable option instead of a debit card. "Credit does give people more security if you don't get your goods. It's also easier when you're you're buying things online," says Cheng.
Tips for choosing and utilizing debit cards
When you're looking for the right card, Cheng has a few tips to make sure you're thinking of all situations.
"Make sure that you know about the fees in the institution. Learn about the daily limit and transaction limit — that's important. See what services you get," Cheng says.
For instance, some banks will have special alerts or features when using the account to avoid overdraft fees. Others offer 24/7 customer service, which is ideal if typical banking hours don't work for you.
If you're more comfortable using cash for purchases, Cheng recommends starting small.
"Maybe they buy groceries every week. Using a debit card in a familiar situation like buying gas or groceries can help them feel more confident," says Cheng.
With time, you'll become more relaxed with utilizing and managing cards.
Debit Card Limit FAQs
A few banks have daily debit card limits of $5,000 or more, including (but not limited to) Ally, Capital One, and Regions Bank.
Banks usually list the daily debit card limit in their bank account agreement. You can also call your bank to check the debit card limits.
Yes, banks have debit card limits for how much you can spend or how much money you can withdraw at an ATM. Daily purchase limits can range from $300 to $10,000. Daily withdrawal limits for debit cards can vary from $200 to $5,000.
Your debit card could be declined when you have money because you've exceeded your daily purchase limit. Your debit card could also be declined if you traveled to another country and didn't notify your bank. Banks enforce these limitations on debit cards to keep your money safe.
If you have a large purchase that exceeds your daily purchase limit, you can call your bank to request a temporary limit increase.
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