Your Verse account has a set of limits, depending on whether they are:
✧ “In-app” money transfers: that is, money transfers that you make to other users through the app (for example, when you transfer money to your friends through Verse using their $VerseTag or their phone number)
✧ External transfers: that is, transfers from your Verse account to other banks or financial institutions based in any of the 29 countries in which we are authorized to provide services.
1. For “in-app” 💸 money transfers, the following limits apply:
Limits according to frequency:
✦ Daily limit: you can send up to a maximum of 10.000 Euros per day to your friends through the application.
✦ Monthly limit: you can send up to a maximum of 99.999 Euros per month to your friends through the application.
✦ Annual limit: you can send up to a maximum of 99.999 Euros per year to your friends through the application
Individual limit per transfer:
In no case may the transfers you make to your friends through the app exceed the amount of 3,500 Euros. Each transfer you make will always have this limit.
2. For external transfers 🏦, the following limits apply:
✦ External transfers you receive to your Verse account: There is no maximum limit on the amount you can receive for all transfers you receive as a recipient using your Verse account (for example, external transfers you receive from friends, or transfers you make to yourself from your own bank accounts).
✦ External transfers that you make from your Verse account to other banks or financial institutions: for these cases the following limits apply:
✧ Daily limit: you can transfer up to a maximum of 3,000 Euros per day
✧ Monthly limit: you can transfer up to a maximum of 30,000 Euros per month
✧ Annual limit: you can transfer up to a maximum of 60,000 Euros. Please note that this limit can be removed if you provide the required documentation that we will request to your email.
Additionally, for very specific cases, we might need to request additional documentation 💌 regarding any of the transfers you make, in order to comply with our legal obligations.
This happens for example, when the total amount that you have transacted through Verse during a period of 365 days exceeds a certain amount. If that time comes, don't worry. We'll manage everything for you. Our Customer Service team will contact you, requesting the required information.