SL International Business

January 13, 2008

Withdraw limits, how do they work?

Filed under: — Tyrian Camilo @ 1:01 pm

Unlike usually thought, the limits are rolling, and not resetted daily.

This is the secure and correct way to do it, and work a bit like currency exchange circuit breakers.

An example is in order:

Bank withdraw limit is, say 10,000L$:

Day 1, 15:00: Person A withdraws 2,500L$
Day 1, 17:50: Person B withdraws 2,500L$
Day 1, 23:15: Person C withdraws 5,000L$. LIMITS MET
Day 1, 23:16 to Day 2, 15:01 :: Limits are met, no withdraws are being allowed.
Day 2, 15:15: Person D withdraws 2,500L$. LIMITS MET
Day 2, 17:55: Person E tries to withdraw 5,000L$, DENIED WOULD EXCEED LIMITS
Day 2, 19:30: Person F withdraws 2,500L$. LIMITS MET

Catch the drift? It’s by the exact amount actually withdrewn in the past 24hours. It’s not resetted on any set time, and is always calculated on the past 24hours.

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