Bank of America and Wells Fargo have updated their Zelle transfer limits, offering users more flexibility for daily transactions while prioritizing security against fraud. Zelle itself uses varied transfer limits across banks and credit unions to protect users and institutions from illicit activities.
Each bank establishes its own daily and monthly Zelle transfer limits to prevent fraud. Some banks may increase limits for users with a strong history of sending payments, especially to frequent recipients. Contact your bank directly to inquire about increasing your Zelle transfer limit.
In other news, Spanish firm Arcano Group, via its Asset Management division, has successfully closed its first Collateralized Loan Obligation (CLO) deal, issuing €435 million. This marks the first CLO securitization of leveraged loans to companies issued by a manager from Southern Europe. The placement, which saw participation from over 20 institutional investors, aims to establish Arcano as a recurring issuer in the CLO market. Jefferies acted as the structuring agent and placement agent for the deal.