In Portugal, there are several ways to make bank transfers, but one of the most used remains the ATM. Its popularity is largely due to the ease of access and the absence of additional charges. However, this means of payment is subject to boundaries by operation, which not all users know.
Limits may vary depending on the bank
According to the BANCO DE PORTUGALthe limits of transfers through the ATM are not fixed to all banks.
Each financial institution can establish its own limits for commercial or risk management reasons, although there is a widely applied generic reference: 100 thousand euros per operation.
According to FINANCE DOCTORthis limit is applied for each transfer, not to the total amount transferred per day.
That is, theoretically it would be possible to make several transfers of 100 thousand euros in a single day, provided the bank allows it.
Limit is also a security measure
Still according to the FINANCE DOCTORthis limitation acts as a protective mechanism.
In case of theft or coercion, the banking client is limited as to the amount that can be transferred.
We recommend:
Similarly, if a transfer is made by mistake or is associated with fraudulent activity, it is easier for the bank to intervene and resolve the situation.
“In theory, these limits help limit the potential damage that a banking client would suffer in the event of seeing his bank card and secret code in the hands of someone with bad intentions,” adds the .
Can be adjusted by the customer
Banking institutions usually allow the client himself to define their custom boundaries for transfers via the ATM, according to their needs and risk profile.
Acting alerts for transfers is also a good practice.
Most banks provide SMS or email notification services whenever a relevant bank movement occurs.
When the value exceeds the limit
If the customer needs to make a transfer higher than the limit allowed on the ATM, you can go to your bank counter and do it in person.
In some cases, additional clarifications on the transfer may be requested, especially if the amount concerned is suspected.
Also read:
