Common use of Account Limits Clause in Contracts

Account Limits. 2.1 Limits may apply to the maximum value of an individual payment Transaction, the maximum Virtual Card Transaction value per Virtual Card, the maximum aggregate value of all payment Transactions made from your Account or Virtual Cards in a particular time period e.g. during any one Business Day and the maximum number of payment Transactions made from your Account over a particular timeframe. 2.2 The limits that apply to your Account and Virtual Cards will be communicated to you during the Account set-up process. These limits may also change over time based on your Account and/or Virtual Card usage; any such change will be communicated to you. You can check the limits at any time by contacting Customer Services. Any payment Transaction request which exceeds such limits will be rejected. 2.3 To manage our risk, particularly with respect to money laundering, fraud or security concerns, we also apply internal controls, including limits, to certain types of payment. We change these as necessary but for security purposes, we do not disclose them.

Appears in 2 contracts

Sources: Modulr Provider Terms, Modulr Client Application Form

Account Limits. 2.1 Limits may apply to the maximum value of an individual payment Transaction, the maximum Virtual Card Transaction value per Virtual Card, the maximum aggregate value of all payment Transactions made from your Account or Virtual Cards in a particular time period e.g. during any one Business Day and the maximum number of payment Transactions made from your Account over a particular timeframe. 2.2 The limits that apply to your Account and Virtual Cards Card will be communicated to you during the Account set-up process. These limits may also change over time based on your Account and/or Virtual Card usage; any such change will be communicated to you. You can check the limits at any time by contacting Customer Services. Any payment Transaction request which exceeds such limits will be rejected. 2.3 To manage our risk, particularly with respect to money laundering, fraud or security concerns, we also apply internal controls, including limits, to certain types of payment. We change these as necessary but for security purposes, we do not disclose them.

Appears in 1 contract

Sources: Introduced Client Agreement