LIMIT MANAGEMENT – CUSTOMER FAQs

General

1. What is transaction limit management?
This feature allows you to view and increase your transfer limits directly in the app.

2. What are the default limits?

  • ₦1,000,000 per transaction

  • ₦2,000,000 daily

Increasing Limits

3. How do I increase my limit?
Go to Profile → Increase limit → Select new limit.

4. Can I increase my limit instantly?
Yes, up to ₦5,000,000 (for eligible users).

5. What do I need to increase my limit?
Ensure your account is fully verified (Tier 3).

6. Can I increase my limit multiple times in one day?

No. You cannot submit a new request while a previous request is still pending.

Higher Limits

7. How do I increase my limit above ₦5M?
You’ll need to:

  • Fill and upload required documents

  • Submit request for review

8. How long does approval take?
Typically within 24 - 48 business hours.

9. What happens after approval?
Your new limit is applied immediately and reflected in the app.

10. What documents are required for limits above ₦5M?
 You’ll be required to upload a signed indemnity form and a completed KYCB form.

Rejections & Issues

11. Why was my request rejected?
This may be due to incomplete/invalid documents or internal risk assessment.

12. Can I reduce my transaction limit?
 Yes. You can adjust your limit within the allowed range in the app.

13. Why hasn’t my new limit been applied?

  • For limits up to ₦5M: it should apply instantly

  • For above ₦5M: your request may still be under review

14. How do I know if my request is approved or rejected?
 You’ll receive an in-app notification and email update.

15. Can I make transactions while my request is pending?
 Yes. You can continue using your current limit until your request is approved.

16. Can I submit another request after rejection?
 Yes. You can reapply after addressing the reason provided.

15. How many times can I request a limit increase?
 You can submit a new request after your previous one has been resolved.

16. What happens if I upload unclear documents?
 You’ll be notified to re-upload clearer documents before your request can proceed.

17. Why can’t I request above ₦5M directly?
 You must first increase your limit to at least ₦5M before requesting a higher limit.

18. Can I cancel a limit increase request after submitting it?
 No. Once submitted, the request cannot be cancelled but you can wait for the outcome and reapply if needed.

19. Will my limit reset daily after exceeding it?
 Yes. Your daily transaction limit resets every 24 hours.

20. Does increasing my limit affect my account security?
 Higher limits may require additional verification and review to ensure your account remains secure.