Card Limit Increase
Process for requesting customer card limit increases above standard thresholds.
Overview
Our card limit increase process ensures compliance with UK Money Laundering Regulations whilst enabling legitimate high-value transactions for your customers.
Standard Limits
| Limit Type | Amount |
|---|---|
| Per transaction | €30,000 |
| Monthly cap | €30,000 |
Higher limits above €30,000 can be approved when properly justified with the required documentation.
Prerequisites: Identity Verification
Before requesting any limit increase, valid identity documents must be on file.
Proof of Identity (PoI)
Accepted documents:
- Passport (most countries)
- National ID card (selected countries)
- Driving licence (selected countries)
Requirements:
- Full name, date of birth, photo
- Valid expiration date
- Government-issued
Proof of Address (PoA)
Accepted documents:
- Utility bill (gas, electric, water)
- Bank/credit card statement
- Driving licence (selected countries)
Requirements:
- Name and address visible
- Issued within last 3 months
- Official provider document
In selected countries (UK, Ireland, Australia), a Driving Licence can serve as both PoI and PoA. As a principle, PoI can act as PoA if it contains an address.
Documentation references:
What You Need to Submit
| # | Requirement | Details |
|---|---|---|
| 1 | Customer Details | Requested limit amount, duration (one-off or ongoing) |
| 2 | Reason for Increase | Detailed explanation, business justification |
| 3 | Source of Wealth (SoW) | How wealth was accumulated, where wealth is stored |
| 4 | Source of Funds (SoF) | Origin of specific funds (required for one-off transactions) |
One-off vs Ongoing
| Type | SoF Required | SoW Required | Notes |
|---|---|---|---|
| One-off | Yes | Yes | Specific transaction justification |
| Ongoing | No | Yes | Comprehensive wealth documentation |
Alternative: Professional Letter
A professional letter from the customer's lawyer or accountant may be accepted instead of direct documentation.
Requirements:
- Must use Wirex approved template
- Professional's credentials will be verified by Financial Crime team
Documentation reference:
Documentation Examples
Common sources and acceptable proof:
| Source | Required Documentation |
|---|---|
| Salary | Recent payslip + bank statement |
| Sale of Property | Contract of sale + bank statement showing proceeds |
| Savings | 3+ month bank statement showing balance |
| Loan | Loan agreement + bank statement |
| Inheritance/Gift | Testament/donor letter + bank statement |
| Investment/Trading Profits | Exchange screenshots + transaction history |
| Pension Fund | Fund statement + bank statement |
| Tax Refund | Tax return (within 12 months) + bank statement |
Document requirements:
- All documents must show customer's name, dates, and amounts clearly
- Bank statements should be recent and relevant to the transaction period
How to Submit
Email your request with complete documentation to the Customer Success team:
| Contact | |
|---|---|
| Yevheniia Sokol | [email protected] |
| Diana Viekslier | [email protected] |
| Nataliya Chudovska | [email protected] |
Processing Timeline
| Step | Description | Timeline |
|---|---|---|
| 1 | You submit | Via email with all docs |
| 2 | We review | ~24 hours |
| 3 | We implement | Same day (before 1pm CET) or next business day |
Service commitment:
- Requests processed within 24 hours of receiving all required documentation
- Requests approved before 1pm CET: usually implemented same business day
- Requests approved after 1pm CET: usually implemented next business day
Possible Outcomes
| Outcome | Description |
|---|---|
| Approved in Full | Limits updated per timeline |
| Alternative Offered | Lower limit proposed |
| Request Denied | Feedback provided |
Quick Reference
| Topic | Requirement |
|---|---|
| Prerequisites | Valid KYC must be on file with ongoing sanctions screening |
| One-off vs Ongoing | One-off needs SoF; ongoing needs comprehensive SoW |
| Documentation Standards | Generic reasons insufficient for ongoing limits; provide detailed business justification |
| Professional Letters | Must use approved template; credentials verified by Financial Crime team |
Questions
BaaS Team:
| Contact | |
|---|---|
| Daniel Rowlands | [email protected] |
| Alessandro Bruno-Bossio | [email protected] |
Customer Success Team:
| Contact | |
|---|---|
| Yevheniia Sokol | [email protected] |
| Diana Viekslier | [email protected] |
| Nataliya Chudovska | [email protected] |
Updated about 1 month ago