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How much can I deposit by card?

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Question
How much can I deposit by card?

Answer

Well, that all depends on the size and frequency of your deposits. We have a rolling deposit system, which we’ll try to explain as simply as possible.
Within any 30-day period you can deposit a maximum of $3,000 by card. You can do this in as many small deposits as you want, but the maximum is $3,000 in the 30-day period (which starts from your first deposit).
Let’s take a 30-day time period as an example and we’ll say that you want to use the maximum permitted. On Day 1 you decide to deposit $200, but on Day 5 you decide to deposit a further $2,500. That means you can only deposit a further $300, which you decide to do on Day 15. That means after Day 15 you will not be able to deposit again by card until the 30-day period finishes.
This is where is may get a little tricky. In the following month you will again be able to deposit $3,000, but no bigger than the previous month’s deposits. For example, if you wanted to deposit $1,000 on Day 2 of the following month, you would not be able to do so and would have to wait until Day 5 as you’d made a large $2,500 deposit on that day in the previous month, which would cover your $1,000 deposit. 
Let’s take another example where you don’t want to deposit the maximum $3,000. On Day 1 you deposit $100 and on Day 20 you deposit another $100. On Day 1 of the following month you would be able to deposit the $2,800 you hadn’t used the previous month PLUS the $100 from the original Day 1 deposit.


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Views: 449 Created on: May 23, 2017
Date updated: May 23, 2017

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