Account Limits
Understanding Account Limits
Account limits on Anchor vary depending on the deposit account type. These limits define the maximum allowable transaction from an Account.
Limit Categories
Limits are categorized based on transfer types:
NIP Transfer: This describes transfers or withdrawals to other banks, such as to Zenith, Access, etc.
Single debit limit: Maximum amount per transaction.
Daily debit limit: Total allowable transactions per day.
Book Transfer: This describes transfers to other accounts within the system, such as Master Account to Deposit Account, e.t.c
Single debit limit: Maximum amount per transaction.
Daily debit limit: Total allowable daily transactions.
Check Account Limits
You can find the limit for a specific deposit account by following below steps:
Log in to the Anchor Dashboard.
Navigate to Accounts.
Click on Deposit Account, and select the specific deposit account of interest.
Hover over Daily Limits to view the applicable limits.
Increasing Account Limits
Deposit account limits can be increased after execution of an Indemnity by sending an email to support@getanchor.co. The account limit increase process is currently not available via the API.
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