What good is a Mastercard with a $2,500 limit

ComfortComfort Member Posts: 3

I had $20,000 transferred to my account...

 

Only $10,000 is on my card.  The rest stays in an account balance.  Dont know how to move it to the card though. 

 

But I go and use it to by international plane tickets for around $6,000 and I get declined. 

 

Despite having $10,000 on my account and $10,000  more on my account... I cant spend more than $2,500 in a transaction.

 

Can somebody explain to me why there is a $2,500 limit?

Comments

  • RomiRomi Community Manager Member Posts: 2,542 ✭✭✭

    Hi,

     

    The Payoneer card is a prepaid debit card and there are certain limits imposed by the issuing banks and by MasterCard. The limit is $2,500 and this cannot be raised at the moment.

    The available balance on the Payoneer prepaid MasterCard card is limited to $10,000.When an account has more than $10,000 in it, you will be able to see the full amount by logging into "My Account" on the Payoneer website and checking:

    • "Card Balance" - will show $10,000
    • "Account Balance" - will show the full amount.

    Romi

    Community Manager at Payoneer


    Find us on Facebook & Twitter

  • ComfortComfort Member Posts: 3
    I find that highly restrictive. That hard limit is fine when you only have a few hundred or a few thousand on the card but I have earnt more and I want to be able to spend it.

    Also.. How do I transfer money from my account to the card balance.

    Yesterday I withdrew about $2500 in cash and used the card for $2500. Today my account balance is $15,000 and my card balance is $7500. Why is it not back up to $10,000 as there is an account balance to cover it.
  • ComfortComfort Member Posts: 3
    I don't think you make it clearly understood that the card has a hard limit of $2500 per day. I am sure I am not the only one that has been caught out and embarrassed by this one. The guy at the travel agency thought I was crazy trying to explain that whilst I had the money I would have to get him to do 4 separate transactions over 4 days to pay for it.

    If it is a security issue there has to be a way to do manual approval for individual purchases by say contacting support first to confirm a bigger purchase will be coming through.
  • RomiRomi Community Manager Member Posts: 2,542 ✭✭✭

    Hi,

    It's not a security issue, it's a regulatory issue that we must stick to, due to MasterCard's and other regulators' terms and rules. I'm sorry for any embarrassment this caused but these are the limits for the Payoneer card and I'm afraid we cannot change them.

    Regarding  the balance "filling up" - when you have outstanding authorizations on the card, it is counted as if the money is still in your card, until the pre-auth is released. I see that you have 2 such authorizations (for $2,000) and this is why the account balance isn't transferring to the card balance (so that you don't end up having more than $10K on the card balance).

    Romi

    Community Manager at Payoneer


    Find us on Facebook & Twitter

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