In keeping track of your transaction limits, there are two (2) important factors to note:
1) Transaction Limits do not necessarily refresh at the beginning of each day, month, or year. Your limits will refresh according to the dates of your previous transactions.
As guidance, the limits refresh rates are as follows:
- Daily limit - refreshes a day after making the specific transaction
- Monthly limit - refreshes 30 days after making the specific transaction
- Annual limit - refreshes 365 days after making the specific transaction
Your limits will also refresh on a rolling basis, meaning your previous transactions do not necessarily refresh all at once.
Monthly Limits Example:
You have a Monthly Cash In Limit of PHP2,000,000.
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- On April 10, you cash in an amount of PHP100,000, leaving you with a remaining PHP1,900,000 monthly cash in limit.
- On April 15, you cash in an amount of PHP50,000, leaving you with a remaining PHP1,850,000 monthly cash in limit.
Your Monthly limits will not refresh at the beginning of next month, May 1. Instead, your limits will start to refresh on May 10.
What happens on the 10th of May, 30 days after the first transaction?
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- On May 10, your Monthly Cash In Limit will refresh only PHP100,000 worth first.
- On May 15, your Monthly Cash In Limit will then refresh PHP50,000 worth.
- Your Monthly Cash In Limit is back to the complete PHP2,000,000 limits once again.
Annual Limits Example:
You have an Annual Withdrawal Limit of PHP120,000,000.
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- You start creating cash out transactions on April 10 onwards.
- Within the year, you have fully used up your Annual Withdrawal Limit of PHP120,000,000 through several outgoing Peso and crypto transactions.
Your Annual limits will not refresh at the beginning of next year, January 1. Instead, your annual limits will start to refresh on April 10 of the next year onwards.
What happens on April 10, a year after the first transaction?
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- On April 10, your Annual Withdrawal Limit will refresh only the amount cashed out on April 10 the previous year.
- Then, your succeeding cash outs in the last year are refreshed accordingly after.
Note: If your remaining monthly or annual limits are fully used up, you may also try to verify your account to a higher level to increase your total limits, instead of waiting for your current limits to refresh.
2) Transaction Limits will refresh +1 hour from when the transaction was made.
Daily Limits Example:
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- If you cash in on April 10 at 6 AM, your Daily cashin limits will refresh on April 11, 7 AM.
Monthly Limits Example:
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- If you cash-in on April 10 at 6 AM, your Monthly cashin limits will refresh after 30 days on May 11, 7 AM.
Note: If a transaction is done using PESOnet or another payment system that does not instantly process funds, the basis used for your limits refresh will be the date and time of completion of the transaction, rather than the date and time the transaction was made.
To know more about what types of transactions count towards your limits, you can visit this link here.
If you have further questions, you may contact us through the Coins app or message us here.