Removing the €10,000 spending limit 

European regulations on the fight against money laundering and terrorism financing require our Banking Partners, and therefore also Spendesk, to identify all customers (KYB or Know Your Business) before establishing a business relationship with them. 

The €10,000 limit is a regulatory requirement set up by our banking partner limiting certain risks, in particular the risk of fraud. It allows you to credit your Spendesk account and spend up to 10,000 euros while waiting for the validation of your Spendesk account to be finalized. 

Thus, our Banking Partner will be obliged to block any transfer exceeding this amount (including in several successive payments) to an escrow account, until the validation of your KYB file is completed.

If a red message referring to this limit appears on the top of the page of your Spendesk interface, it means that your registration has not been fully completed yet.

In order to remove the spending limit imposed on your Spendesk account, we invite you to contact our financial team directly (compliance@spendesk.com) so that they can take the necessary measures.

 

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