Card spend limit and fees

Palremit dollar cards have limits and fees we charge to keep our services going.

Here’s what you need to know:

Spend Limits

We have several limits in place for your security:

• Per transaction limit ⇒ None

• Daily transaction limit ⇒ $5,000

• Monthly transaction limit ⇒ $10,000

• Daily number of transactions ⇒ Unlimited, strictly by transaction amount limit

• Monthly number of transactions ⇒ Unlimited, strictly by transaction amount limit

For the exact amounts of these limits, please check your Palremit app or online account. These may vary based on your account type and status.

Fees

All our fees are listed in our schedule of charges. This includes potential fees for:

• Card creation and issuance (only after KYC)⇒ $2

• Transactions ⇒ We charge $0 for USD payments made using our dollar card.
  • For non-USD payments, we charge a 3% markup fee per transaction as it involves currency conversion. For example, if you pay for something online for $100 exchanged at ₦1,600, we charge you ₦4,800 or $3 (3%) for this transaction. Transactions in other currencies incur currency conversion fees.

• Card funding fee ⇒ 2% of funding amount (minimum of $0.5)

• Card monthly maintenance fee ⇒ $1

• Minimum card balance ⇒ $3 (you need to have at least $3 on your card balance)

• Inactivity ⇒ You risk getting your card deactivated if unused and unfunded for a long time.

• Declined charge due to low balance ⇒ $0.3
  • Please ensure you always have the adequate amount on your card required to perform transactions.

You can easily view the current schedule of charges in your Palremit app. From your dashboard, go to Cards > Card usage terms

Remember, we might update our limits or fees from time to time, but we’ll always let you know about any big changes in advance.