In keeping track of your Transaction Limits, there are 2 important factors to note.
1) Transaction Limits do not necessarily refresh at the beginning of a new day, new month, or new year, but rather according to the specific date of transaction
Your transaction limits will refresh on the following schedule:
- 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
** Kindly note that the system marks 00:00 UTC (or 8:00am PH time) as the beginning of each day,. Therefore, if you make a transaction beyond 8 am, your limits will refresh by 24 hrs + UTC. However, please take note that you will still need to make sure that your transaction finishes the 24 hours mark before it can refresh by 8 am.
For example, if you cash in on April 10, around 6 am (before 8am), your Daily Limits will refresh on April 11, 8 am. But if you cash in on April 10, around 10 am (after 8am), your Daily Limits will refresh on April 12, 8am.
Another example, if you cash in on April 10, around 6 am (before 8am), your Monthly Limits will refresh on, May 10, 8 am. But if you cash in on April 10, around 10am (after 8am), your Monthly Limits will refresh on May 11, 8am. **
Monthly Limits Example:
A user has a Monthly Cash In Limit of PHP100,000.
- User makes a cash in transaction worth PHP100,000 on April 10. User's Monthly Cash In Limit will not refresh on May 1, the beginning of the next month. Instead, user's Monthly Cash In Limit will refresh PHP100,000 worth on May 10, a month after the specific cash in transaction was made.
Annual Limits Example:
A user has a Annual Cash Out Limit of PHP400,000.
- User makes a cash-out transaction worth PHP400,000 on April 10, 2021. User's Annual Cash Out Limit will not refresh on Jan 1, the beginning of the next year. Instead, user's Monthly Cash Out Limit will refresh PHP400,000 worth on April 10, 2022, a year after the specific cash out transaction was made.
2) Transaction Limits are also tracked on a rolling basis, meaning the limits do not necessarily refresh all at once.
Monthly Limits Example:
A user has a Monthly Cash In Limit of PHP100,000.
- User makes cash in transactions worth PHP25,000 each on April 10, April 11, April, 12, and April 13. User has now then reached his Monthly Cash In Limit of PHP100,000. So what happens on May 10, a month after the first transaction?
- On May 10, user's Monthly Cash In Limit will refresh PHP25,000 worth
- On May 11, user's Monthly Cash In Limit will refresh another PHP25,000 worth.
- On May 12, user's Monthly Cash In Limit will refresh another PHP25,000 worth.
- On May 13, user's Monthly Cash In Limit will refresh the last PHP25,000 worth, totaling the complete PHP100,000 once again.
Annual Limits Example:
A user has an Annual Cash Out Limit of PHP400,000.
- User makes cash out transactions worth PHP100,000 each on April 10, April 11, April 12, April 13, all in the year 2021. User has now reached his Annual Cash Out Limit of PHP400,000. So what happens on April 10 2022, a year after the first transaction.
- On April 10 2022, user's Annual Cash Out Limit will refresh PHP100,000 worth.
- On April 11 2022, user's Annual Cash Out Limit will refresh another PHP100,000 worth.
- On April 12 2022, user's Annual Cash Out Limit will refresh another PHP100,000 worth.
- On April 13 2022, user's Annual Cash Out Limit will refresh the last PHP100,000 worth, totaling the complete PHP400,000 once again.
To know more about transaction limits and 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.
