Due to a change in European Union Regulation 648/2012, known as the 4th Money Laundering Directive, UNverified cards will have the following limits as of 26th June (2017):
- Total card balance for all of your cards combined can not exceed 250 (GBP, EUR, or USD) at any time.
- Cards can not be used to withdraw or pay more than 100 at any one time.
- Total card balance for all of your cards combined can not exceed 250 (GBP, EUR, or USD) at any time.
- To avoid these limits, please verify your account before the cut-off date of June 26th . Verification can take 7-10 days.
- Unverified accounts with total card balance over 250 £ / € / $ will have to be SUSPENDED until verification is complete.
- If your total card balance is below 250 by June 26th, you do not need to verify your account. However, you will need to ensure that your total card balance (for all cards combined) does not exceed 250 at any time to avoid account suspension. If this happens, we will need additional documents to unfreeze the account.
(i.e. Cards issued by European Providers.)