Transaction and verification limits–everything you need to know

This article explains the difference between your transaction limit, and your verification limit.

Transaction limit

You can make a transaction of any amount, using any of our card readers.

However, due to the security risk associated with remote payments, we have added transaction limits according to your business type. Our Support Team will help you identify these remote payment limits for your SumUp account.

Verification limit

As a payment institution regulated by the Financial Conduct Authority (FCA), we’re obliged to verify that you are the individual registered with the SumUp account and that you are the main contact for your business.

The verification limit is 5,000 GBP/EUR.

This means that you won't be able to make any transactions once you've reached the 5,000 GBP/EUR processing limit unless your account has been verified. But don’t worry, in most cases verification is a quick and automatic process.

Here’s how it works:

  1. After signing up an eKYC (electronic Know Your Customer) will be triggered. This is a process used to verify both your address and identity. Most businesses are verified automatically through this process.
  2. If you’re not automatically verified, you’ll receive a notification from us, to upload a picture of your ID in the SumUp App.
    Please note: You only need to provide documents if we ask you to. In some cases, we may require further business-related documents based on your business type.

Important

The verification of your SumUp account might take a few days. If you expect to exceed this 5,000 GBP/EUR limit quickly, please contact our Support Team as soon as possible–we help you speed up the verification process.

For UK based businesses, take a look at this article on how to upload your documents. For Ireland and Malta, read this article.

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