Overview
While most of you may never need to do this, you can always try to request a payment limit increase if your tenants need to pay more than the standard amount for either credit card or ACH.
IMPORTANT INFORMATION
To safeguard against disputes, we set limits to ensure your account can cover chargebacks. If a dispute arises and the bank rules in favor of the tenant, you’re responsible for reimbursing the payment processor.
In additional to a multitude of factors, we verify that your account can handle a chargeback before approving any transaction limit increases. This is to prevent any financial risk to you, your account, or the banking system.
When requesting a higher limit, please ensure the connected account has been sufficiently funded. If the account shows limited activity or low liquidity, we may require additional verification or ask you to deposit more funds.
For more information about your responsibilities that come with having a merchant account, please read: What is a Merchant Account and the Responsibilities Associated With It.
The Steps
To request a limit increase, you'll need to click Accounting on the main menu and then click on Receive Payments. From there, click the General Information tab at the top.
You'll also notice a button labeled, Update Limits on the top bar. Pressing this will open up a chat where you'll need to provide three pieces of information:
Name of the merchant account you are requesting the increase for.
How much are you requesting.
Financial Documentation: Please provide 3 months of bank statements and a signed lease to help us assess your request
Once you upload the information needed, please wait a moment, and you'll get a response with a link you'll need to click on. This link will finalize your submission with the merchant team and they'll now have a ticket for your limit increase request.
Note: The approval process can take between 1-2 days, and you'll hear back from the merchant team with a decision.
Related Articles