Volt initiates payments as bank transfers. This means that the transfers are subject to limitations set to bank transfers.

There are various factors that determine the individual transfer limits. Here are the 3 most relevant ones for Volt payments (in no specific order)

• the payment scheme,
  e.g. SEPA Instant max amount is 100.000 EUR,
• the bank and transfer specific or,
  e.g. transfers to unknown beneficiaries are limited, especially to those in other countries,,
• the individual shopper specifications,
  e.g. daily spending limits, single transfer limits set individually, or accounts types with transfer limits.

What happens if the transfer limit is exceeded?

If the transfer amount exceeds the limit, the payment may be rejected, or the bank may require additional verification before processing the transfer. Note that limits of the payment scheme can’t be exceeded.

Determining the transfer limit for a payment

The bank or transfer limits as well as the shopper individual transfer limits are not available to Volt before or even after the payment. In most cases, a transfer which exceeds the set limits is rejected without further information or set for additional verification often without clear guidance on what that entails for the shopper. The bank labels the payment as generally failed or pending without further details.

As a result, there is no reliable way to determine the transfer limit for a payment.

There are general rules that apply to all bank transfers in the context of payment amount limits.

Repeated transfers to a known beneficiary are fewer times rejected
While the first time a shopper pays an unknown beneficiary limits are more strict, transfers to known beneficiaries – meaning those that already were used in previous payments – will see fewer rejections due to limits.

This is especially the case for cross-border transfers. Some banks even block transfers to other countries with a limit of 0 (zero) unless the shopper releases that by changing the in their online banking or contacting their bank.

Advice the shopper to contact their bank directly
Some shoppers are aware of their specific transfer amount limits, especially if they often purchase high value items. Advising the shopper to contact their bank before or shortly after the payment can serve as a helpful reminder. This may not allow the current payment to still be processed but it can help to reduce the chances of a repeated failed payment due to amount limits.

Remove Volt for amounts that exceed the payment scheme amount limits
Even though we would like to be available for all purchases, those payments that exceed the scheme limits will certainly fail. For guidance we list the payment schemes with their limits below.

Please contact us if you have any more questions.