Paxum withdraw limits

[rowan]

Does anyone know where I can find info on Paxum transaction limits? Just tried to withdraw a little over USD1500 via EFT, and got this error:

"Single Transaction Limit Amount Exceeded"

I am unsure whether this is a temporary Paxum problem, or I'm really hitting a limit. I've withdrawn more than this before, but I don't think I've done it via EFT.

I found some blog stuff from 5 years ago mentioning $10k transaction limits but I have doubts this is current.

Thanks

[RuthB]

Originally Posted by rowan

Does anyone know where I can find info on Paxum transaction limits? Just tried to withdraw a little over USD1500 via EFT, and got this error:

"Single Transaction Limit Amount Exceeded"

I am unsure whether this is a temporary Paxum problem, or I'm really hitting a limit. I've withdrawn more than this before, but I don't think I've done it via EFT.

I found some blog stuff from 5 years ago mentioning $10k transaction limits but I have doubts this is current.

Thanks

AUD EFT has a $1,500 USD per transaction limit.

[rowan]

Originally Posted by RuthB

AUD EFT has a $1,500 USD per transaction limit.

Why?

and

Where do I find this information?

[Adraco]

The limits are rarely listed and one needs to come to GFY to ask or try to scroll through endless blog posts or discussions on GFY to find useful information - hopeless!

It should be easily available.

[j3rkules]

Originally Posted by Adraco

The limits are rarely listed and one needs to come to GFY to ask or try to scroll through endless blog posts or discussions on GFY to find useful information - hopeless!

It should be easily available.

I fully agree with that.

[rowan]

I looked back over my payments...

- I've done wires for $2500+ without issue

- Back in 2017 I did EFT (AUD) for $1600+, but that was a previous incarnation of EFT, and today that would fail

So yeah... seems to be arbitrary, and subject to change.

These limits should be stated on the website somewhere.

[robwod]

Personally, I think it is ridiculous to be capped at $1500 per day. ATM used to be used to be 2400 or 2500. Now it's $1500.

@Ruth: is there a way to get the limits increased to something more reasonable?

[rowan]

The EFT thing seems to be per-transaction. I did a withdraw for $1494.99, then I was able to do a second transaction for a little over $50, which succeeded.

I can sort of understand a daily limit, but what use is a per-transaction limit when you can just rapid-fire out multiple $1500 EFT withdrawals?

[RuthB]

EFT (local bank transfer) is designed for smaller amounts; hence the smaller per transaction limit. The fee is also only $5 USD.

At the time of release we sent a mailer out to all Australian clients informing them of the implementation of AUD EFT and the limits/fees in place.

If you would like to withdraw larger amounts then please choose WIRE withdrawal!

[rowan]

Originally Posted by RuthB

EFT (local bank transfer) is designed for smaller amounts; hence the smaller per transaction limit. The fee is also only $5 USD.

At the time of release we sent a mailer out to all Australian clients informing them of the implementation of AUD EFT and the limits/fees in place.

I can't find the announcement, either in email or on GFY, but I did find a 2018 thread stating that EFT/ACH withdrawal limits have been "permanently increased" to $3500.

Information on any limits should be easily accessible by customers, without needing to go and find old threads or mails. Why is this not on the Paxum website?