Each Payments account starts with the a default payments limit of $5000 in card processing transaction a month and a $1000 limit per transaction.
Exceeding these limits can result in a soft hold being placed on your processing fund. This means you customers will be able to pay their invoice with a card but those finds may be held to prevent fraud.
Requesting a Limit Increase is done in two steps. First you need to upload supporting documentation. The second step is to request the actual increase.
Uploading Supporting Documents
When requesting a limit increase over $5000 per month or $1000 per transaction the following documents are typically required.
Last 3 months of processing statements (we have these on your Payments page)
Last 3 months of bank statements
A copy of a business license
To upload support documentation follow these steps.
- Collect the last three months of bank statements for your company.
- Go to your Payments settings page.
- Tap Statements at the top of the screen.
- Tap on to open and then Download each of the last three Statements
- Tap Transactions to return to the Payments screen.
- Tap the Action [ ... ] button.
- Tap Upload Documentation to ProPay.
- Select Limit Increase as the document type.
- Select the the last three (3) months of Payments statements and three (3) months of bank statements.
- Tap Upload.
Once the upload of documents is complete you can request a limit increase.
Requesting a Limit Increase
Before requesting a limit increase you need to know the following.
- Average amount of card transactions you do in a month from your statements
- The largest typical transaction you tend to do
- Your ProPay account number from your Payments page.
NOTE: Requesting more than a $50,000 per month limit will require more financial documentation of the business and the business owners.
To request a limit increase send a message similar to this to email@example.com.
Subject: Limit increase for account << ProPay Account Number on your Payments Page >>
Please increase the processing limits for account number << ProPay Account Number on your Payments Page >> to the following levels.
Monthly Processing Limit: << your average transactions per month >>
Transaction Limit: << your highest anticipated transaction >>
The following documents have been uploaded to our ProPay account and show that these limit better reflect the historical volume and amount we have been processing.
* Three months of bank statements
* Three months of processing statements
Please reply with any questions.
<< your name >>
<< your company >>
ProPay will reply to you directly in the new one to two business days with their decision.