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Palremit Help Center

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 ⇒ $100,000
  • Daily number of transactions ⇒ Unlimited, strictly by transaction amount limit
  • Monthly number of transactions ⇒ Unlimited, strictly by transaction amount limit

What are the transaction limits for USD on Palremit?

Transaction limits on Palremit vary depending on the source of funds. Here’s a breakdown:

  • Family members with the same last name: No limits; only daily limits apply.
  • Friends with different last names: a first deposit transaction of $2,000 for standard USD virtual accounts and $5,500 for virtual USD accounts limit per transaction, up to five times a day (totalling $20,000 and $50,000).
  • Business payments: No limits, but high-value transactions may require enhanced verification.
  • P2P deposits: Up to $150,000 a month, with only a first-time deposit of $2,000 limit per individual transaction, after which higher volumes can be done.

Can I receive ACH wire transfers ?

Yes, you can receive Automated Clearing House (ACH) transfers. There are no limits for these transactions, after a first deposit transaction of $2,000 for standard USD virtual accounts and $9,500 for virtual USD accounts.

Are there limits on international ACH transactions ?

For international ACH transactions, there are no limits on the total amount you can receive.

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 2% 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 ⇒ $0
  • 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 an 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.