Wallet CRE Banking Services
      Back to home
      1. Help Center
      2. Investment Management
      3. Wallet CRE Banking Services

      How does Covercy set my deposit, payment, and card-spend limits?

      A quick guide to how Covercy sets ACH, check‑deposit, and debit‑card limits based on your account’s plan tier and profile.

      Why we set limits

      • Fraud & loss prevention: Lower starting limits keep both you and your investors safe while we confirm transaction patterns and counterparties.

      • Regulatory compliance: Banking regulations require us to align limits with verified account activity.

      • Operational predictability: Clear limits avoid last-minute payment delays during capital calls or large distributions.

      How limits evolve over time

      1. Default assignment (new account)

        • Every new Covercy banking account starts with conservative daily and monthly caps on deposits, outgoing payments, and debit-card spend.

        • Think of this as a “speed limit” for your first few transactions.

      2. Established track record

        • After we’ve seen successful deposits, investor distributions, or rent collections—and your KYC/KYB documents remain current—we automatically raise your caps to match typical operating volumes.

        • No action is required on your side; you’ll see the updated limits under Banking ▸ Settings.

      3. High-volume use cases (by request)

        • Fundraising rounds with many inbound wires or checks.

        • Large acquisitions or refinance payouts needing same-day transfers in the seven figures.

        • Bulk investor distributions at quarter- or year-end.

        • Submit a Request Increase ticket or speak with your Customer Success Manager (CSM). We routinely approve one-time or permanent limits in the millions of dollars when documentation supports the need.

      Turnaround time: Most limit increases are approved within one business day once we have the supporting details (e.g., purchase agreement, capital call notice, or distribution schedule).

      Viewing—and increasing—your current limits

      1. In the Covercy web app, go to Banking ▸ Settings.

      2. Review your Deposit, Outgoing ACH/Wire, and Card Spend limits.

      3. If you’re approaching a cap, click Request Increase and outline the upcoming transaction(s).

      4. Our support team will confirm next steps by email.

      Quick FAQs

      • Can limits ever be lowered?
        Only in rare cases—such as prolonged inactivity or unresolved negative balances. We’ll notify you first.

      • Is there a fee for higher limits?
        No. Limit reviews are included in your banking service; standard transaction fees still apply.

      • What if I manage multiple entities?
        Each account’s limits are tuned separately—one SPV can keep its default caps while another handles multimillion-dollar capital raises.

      Legal note
      Your Covercy Banking Agreement governs all deposit and payment activity and takes precedence over the descriptions above. For help, email support@covercy.com or contact your CSM.