Yes, there are limits on transactions.
If you are using the Mettle bank account they are:
Type | Limit |
Incoming transactions | Payments into your account are uncapped unless they would increase your maximum balance.
For both sole traders and limited companies, your main account balance limit is £1 million. |
Outgoing transactions | For Faster Payments there's a limit of £10k per transaction, however you can make more than one faster payment per day. |
Card transactions | - Single transaction limit of £10k |
Cash deposits | - Minimum single transaction limit £10 |
Cash withdrawals | Daily limit is £500 per day (24 hour rolling limit) and £4,000 per month (30 day rolling limit) |
If you are using the e-money account the limits are:
Type | Limit |
Incoming transactions | Payments into your account are uncapped unless they would increase your maximum balance.
Limited companies have a maximum balance of £100k (£50k for sole traders) |
Outgoing transactions | For Faster Payments there's a limit of £10k per transaction, however you can make more than one faster payment per day. |
Card transactions | - Single transaction limit of £10k |
Cash Deposits | Minimum single transaction limit £10 |
Post Office cash deposits | An additional daily deposit limit of £2,000 applies to Post Office deposits. |
PayPoint cash deposit limits | Maximum single transaction limit £500
Sole traders
Limited companies
|
Cash withdrawals | Daily limit is £500 per day and £4,000 per month (30 day rolling) |