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 main account balance beyond its maximum limit of £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 and £4,000 per month |
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 |
New PayPoint cash deposit limits from 4 September 2024 | Sole traders
Limited companies
Maximum single transaction limit is not changing. |
Cash withdrawals | Daily limit is £500 per day and £4,000 per month |