The promise of Barter by Flutterwave is a promise that we can offer everyone a financially borderless world. It’s about a world of no financial restrictions. This is why Barter allows you to send money to anyone anywhere in the world.
USD transfers out of your Barter allows you to send money to any Barter users worldwide, local bank accounts in some regions, and to Domiciliary Bank Accounts in some regions.
However, to keep you and everyone on Barter, safe and secure it’s become imperative that we introduce new daily limits on USD transfers.
From Wednesday, 14th July 2021, our new daily limits for USD transfers will kick in.
Here are the new daily limits for USD transfers in Barter:
Transfers to DOM Account (In regions where it’s available)
Transfers to local bank accounts (in regions where it’s available e.g Nigeria)
Transfers to Barter users worldwide (available everywhere)
How does this affect me as a current Barter user?
This means that you’ll still be able to send money to anyone anywhere as usual. You only cannot send more than $2000 in a day to Barter users worldwide or to DOM accounts (if it’s available in your region). Similarly, if you’re able to send money to a local bank account, your daily limit is $500.
Does this mean I can’t have more than $2000 or $500 in my Barter account?
No. This has nothing to do with your balance. You can have any amount in your Barter as usual. This only applies to the amount you can send out per day.
Does this mean I can’t receive more than $2000 or $500 in my Barter account?
No. This does not affect the amount you can receive. This only applies to the amount you can send out.
Does this limit apply to a single transaction or my cumulative transactions for the day?
This limit applies to your cumulative transactions for the day so if you have sent out $1000 to a Barter user in a day, you can only send out $1000 to any Barter user for that day.
Does this limit change daily?
No. The limit stays the same daily. However, if you sent $1000 to a Barter user yesterday, your limit today is back to $2000.
If I don’t use up my limit today, can I carry it over to tomorrow?
No, you can’t. If you want to send money to a Barter user anywhere in the world, your daily limit is $2000 and it is $2000 every day whether or not you used up the limit the day before.
Thank you for trusting us on this journey as we continue to create endless possibilities for you. If you have any other questions, just let us know here, and we’d be happy to help.