Limits are temporary restrictions on your ability to process transactions via your MoonPay account. These measures are implemented to protect your account and MoonPay.
Yes, if you have an account at MoonPay you will have two different types of limits on your account.
Account Limits: Your account limits are determined by your verification status and jurisdiction.
Payment Method Limits: We also have different transaction limits on each payment method such as card transactions and bank transfers. This will vary depending on the type of order you are placing such as buy, sell, swaps or NFTs.
You will receive a message in the app to let you know if your limit has been reached. This normally occurs when you are attempting to make a transaction.
When do my payment method limits reset?
Payment limits will reset over a rolling time period, which means your limit will reset exactly a day or month after you placed an order. As an example, if your daily limit is $10k and you placed an order for that amount at 1 pm, your limit will reset at 1 pm the following day. The same applies to monthly limits; once you’ve hit your limits, it will reset at the exact time your order was completed a month later.
Account limits do not have a reset period; if you reach your account limit, you will be prompted to fill out a short survey in the app as well as provide a specific set of documents related to your source of income.
What should I do if my payment method limit is reached?
If you reach your limit on any given payment method, you will receive a notification in the app to let you know your limit has been reached. When this happens, you are more than welcome to try another payment method or wait for the limit to reset, depending on whether you were shown a daily or monthly limit error message.
Yes. If you reach your daily/monthly limit for card transactions as an example, you can use a different payment method available in your account.
I’m still confused about my limits, what can I do?
You are more than welcome to speak to an agent on our chat service if you want more help regarding your limits. Our agents can provide you with more information about your current limits and which options you have available to you to place another order.
Your available credit limit considers both your posted and pending transactions. If you spend more than your available credit, over limit fees will apply.
If you are overlimit, a few things could happen. Some credit cards may decline your transactions if you try to spend more than the remaining balance. But if the transaction goes through, this can put you over your credit card limit and you may be charged a fee, also known as an over-limit transaction fee.
The number one downside of increasing your credit card limit is that you could start to spend more – due to the available credit – and therefore your credit card balance could increase. You owe more! That could mean you get into more debt, if you don't manage it, which could have a negative impact on your credit score.
Increasing your credit limit could lower your credit utilization ratio. If your spending habits stay the same, you could boost your credit score if you continue to make your monthly payments on time. But if you drastically increase your spending with your increased credit limit, you could hurt your credit score.
If you go over your credit limit, your card could be declined. If you're part of the optional over-the-limit coverage program, you could also be charged a fee for each billing cycle that you exceed your credit limit. Your credit card company must tell you how much these fees are before you opt in.
Many debit cards have daily purchase and withdrawal limits that apply regardless of your balance. If you try to make a purchase above what your bank allows, it likely won't go through. However, it's sometimes possible to increase your debit card limits both temporarily and permanently.
A cardholder must opt in to allow transactions over their credit line to be made in exchange for this penalty being assessed. If a cardholder does not opt in, any transactions that will exceed their credit line will most likely be declined.
Unless your account is with an online-only bank, you can access cash that exceeds your daily ATM withdrawal limit by making an in-person withdrawal or cashing a check at a local branch. Get cash back with a purchase.
Address: 569 Waelchi Ports, South Blainebury, LA 11589
Phone: +9958996486049
Job: Sales Manager
Hobby: Web surfing, Scuba diving, Mountaineering, Writing, Sailing, Dance, Blacksmithing
Introduction: My name is Prof. Nancy Dach, I am a lively, joyous, courageous, lovely, tender, charming, open person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
