What is a deposit limit?
When you open an account with us, you can choose to set a deposit limit. A deposit limit is a means by which you can set a maximum deposit limit you can deposit during a day (24 hours), week (7 days) or month (30 days). This means you are always in control of your money and the maximum amount you are willing to spend.
If you wish to decrease your limit you can do this at any time and it will be effective immediately. To increase your limit however, it will take 24 hours to take effect on your account. After this 24 hour period you will be asked to confirm the change on logging in.
When do the monthly, weekly and daily limits run from/to?
Deposit limits work on a rolling period. So, for example, if you've deposited your full weekly limit on Tuesday at 9pm, you won't be able to deposit again until 9.01pm the following Tuesday.
Please note: if you are reducing your deposit limit, the change will take effect straight away. However, when increasing your limit, it will take the remaining time left in your current limit plus the new limit before the change comes into effect.
For example, if you have a £50 weekly deposit limit, and you have deposited £50 on January 10th 19:00, then immediately increase your limit to £50 per day - you will not be able to deposit the next day even though the 24 hour cool have has expired, as the original limit has to be met. In this situation, the next available deposit would be at 19:01 on Jan 17th