Reap Card's ATM Withdrawal Limit

Effective date: 21 Aug 2023
​
We've implemented certain limits for Reap Card's ATM withdrawals to maintain the security and compliance of our system. Here, you will find detailed information on the daily, monthly, and yearly withdrawal limits.

• Amount: USD 2,000 / HKD 16,000 per company

• Frequency: Limited to 3 withdrawals per day

• Amount: USD 10,000 / HKD 80,000 per company

• Frequency: Limited to 20 withdrawals per month

• Amount: Unlimited

• Frequency: Unlimited

To ensure our platform's integrity and global compliance, Reap Card has suspended the ATM withdrawal feature for the following FATF blacklist countries:

• Democratic People's Republic of Korea

• Iran

• Myanmar

Note: This decision is in line with the Financial Action Task Force (FATF) recommendations. If your company is based in or transacts through, any of these countries, please be aware that ATM withdrawal capabilities will not be available.

Q1. Why are there withdrawal limits?

Withdrawal limits are put in place for a combination of security reasons, fraud prevention, and to ensure compliance with financial regulations.

Q2. What happens if I reach my withdrawal limit?

Once you reach your set limit (be it daily or monthly), any further withdrawal attempts will be declined. You will need to wait until the next cycle (day or month) to make additional withdrawals.

Q3. Can I request a change in my withdrawal limits?

Yes, please provide our customer success team with the information below and we will review your request.

1. The desired amount and frequency you would like to request

2. Indicate the intended usage of the desired cash withdrawal

Q4. How can I check how many withdrawals I have made so far?

You can monitor your withdrawal frequency and the amount withdrawn from the Transactions section under Reap Card in your Reap dashboard.

For any further queries or support, please do not hesitate to contact the customer success team. We're here to help!