Quote:
Originally Posted by danep
Hi Petra, how is it going? I just have a tiny correction about the Firstchoice Pay card daily usage limits.
The daily ATM limit is up to 5000$
The daily point of sale limit is up to 2500$
-Both of them are separate, hence they don't effect one another. So all together we are talking about 7500$.
Payments from platforms are loaded to the card within minutes by the way.
Let me know if anyone has further questions.
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You CARD's daily ATM limit is $5,000. However, ATMs have limits and not everywhere in the world allows you to pull thousands at a time. ATM limits here are between 250 to 500 euro. So yea, technically I can pull $5k a day but when you add the card fees, atm fees, hourly rate while running around finding atms to use, and bank fees to deposit cash, IT IS NOT WORTH IT. Maybe if you're in the USA where ATMs have higher limits or you can pay for everything including groceries with a CC, it's not so bad.
However, in the end for the amount of money I'm talking which is a lot more than $10k, it's not worth it. The money will be tied up on the ewallet for longer than we're comfortable with along with a lot of unnecessary fees when we could just get a wire straight into our bank account for much less in trouble and fees.
Sorry, I can honestly say I wouldn't recommend this to anyone dealing in large cash transactions.