Hacker News new | ask | show | jobs
by timcederman 1191 days ago
Live Oak Bank limits business account withdrawals to $250k/day.
2 comments

If you have a business which pays fortnightly and the average employee makes $250K, then just payroll for 26 employees will reach your limit.
You don't need currency to facilitate payroll; it's a series of transfers, not withdrawals. And the recipients don't usually need that much currency either, even if they do bank at the same place.
That’s a policy thing to limit capital outflows, not a technical limitation.
but that's exactly what we're talking about