Crypto Wallet Abra Increases US-Based Bank Transfer Limits

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October 23, 2019 – Crypto Wallet Abra has announced it is increasing the limits on US-Based Bank transfers.

Abra mentioned on its blog that the limit increase is one of its users’ most requested feature, hence the app now has the following bank transfer limits:

  • $4,000/day
  • $8,000/week
  • $16,000/month

US bank wires are at $599 – $40,000 per wire daily.

Download Abra here:

The limit increase comes with a couple of, well, requirements:

  • Despite Abra’s increase limits, the user’s bank may supersede theirs.
  • For yearly wire raise limit, the user must first reach out to or apply to the Abra Wire Program
  • The $4,000 daily, $8,000 weekly, and $16,000 monthly limits are subject to additional ID validation and will be approved on a case-by-case basis.

These limits are refreshed on a rolling cycle. For example, if the user reaches the daily limit at 10:00am today, it will not be reset until 10:00am of the next day.

Finally, it should be noted that increase limits are for US-based Bank Accounts. While there is no announcement if this will apply to local banks in the Philippines in the future, this update will be helpful to have bank accounts in the US.

This article is published on BitPinas: Crypto Wallet Abra Increases US-Based Bank Transfer Limits

Source: Abra Blog

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