Yes, there are limits set out by Visa and Mastercard that we must adhere to. They are:
- Minimum single transaction: $10
- Maximum single daily transaction, from person to person is: $2,500 CDN
- The maximum you can collect from 1 person using multiple transactions daily is: $10,000
- Maximum weekly transaction total: $500
- Maximum monthly transaction total: $1,000
- Maximum annual transaction total: $1,500
If you wish to exceed these limits please contact us at email@example.com.
We may require additional information, including a photo of your driver’s license (both sides) or passport (picture page). If you receive more than $1,000 of payments in any 12 month period you may be required to provide us with additional personal information, such as a copy of your passport, to ensure we comply with fraud and money laundering regulations. We will ask for these documents to be uploaded via a secure portal.
At any time, we reserve the right to ask for additional information if we detect suspicious behaviour on your account.