Every TransferCove account has limits on how much money it can move. They depend on your account tier. New accounts start on Tier 0, and verifying your identity moves you to Tier 1, with higher limits.
Where to see your limits
Go to Settings, then Limits and verification. You’ll see:
- your current tier
- your daily and monthly limits
- how much of each you’ve used so far
The amounts for each tier are set by our team and can change. The app always shows the current figures for your account.
How tiers work
- Tier 0: every account starts here when you sign up. The limits are modest.
- Tier 1: you reach it after you verify your identity and a person on our team approves it.
In some cases our team may set different limits on a single account.
When limits are checked
We check your limits every time, before any money moves. A payment, deposit or withdrawal that would take you over a limit is stopped before it starts, so you never end up with half a payment. The app tells you which limit you’ve reached and how much room you have left.
Withdrawals also have a daily limit, shown on the withdrawal screen before you confirm.
Method minimums and maximums
Separate from your tier limits, each payment method for adding money or withdrawing has its own minimum and maximum per transaction. You see them when you choose the method.
If you hit a limit
- Wait until the limit resets. Daily limits reset each day and monthly limits each month.
- Split a large withdrawal or deposit across days, within the limits shown.
- Verify your identity to move up a tier, if you haven’t yet.
If you regularly need to move more than your tier allows, contact us and tell us what you need.