Keeping your business banking details secure is our utmost priority and as a part of that, we have daily limits in place on your ATM withdrawals, Card transactions (both physical and virtual), and Outbound transfers to external bank accounts from your Bonsai Cash account.
Okay, what are the daily transaction limits?
The daily limits (on a 24-hour rolling basis) will be applied to the following operations with Bonsai business banking:
$300 for ATM withdrawals
$2,000 for card transactions
$3,000 for transfer to external bank accounts
So what happens when I reach my daily limit and still do another transaction?
Once you reach your daily limit, your subsequent transactions fail and you will be notified by us via email about why the transaction failed.
If I send $3,000 to an external bank via an outbound transfer from my Bonsai business banking balance, can I still make an ATM withdrawal of $300 on the same day?
Yes, you can. These limits are not cumulative across the type of transactions.
Are there exception to those limits?
We can increase transaction limits on a case by case basis. Please contact our support if you'd like to request a limit increase.
© 2023 Bonsai Technologies Inc - Bonsai partners with Stripe Payments Company for money transmission services and account services with funds held at Evolve Bank & Trust, Member FDIC. Bonsai cards are issued by Celtic Bank. Bonsai is not a law firm, and does not provide legal services, advice, or representation.