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Increase Maximum Payment Limit per Single Transaction via Faster Payment System (FPS) and Tap & GoDear Valued MerchantDate: 1 Jan 2019According to the Guideline on AntiMoney Laundering and Counter
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How to fill out increase maximum payment limit

01
Log in to your account on the payment platform
02
Navigate to the 'Account Settings' or 'Payment Limits' section
03
Locate the option to increase the maximum payment limit
04
Follow the instructions provided, which may include verifying your identity or providing additional documentation
05
Submit the request for an increased maximum payment limit and await approval

Who needs increase maximum payment limit?

01
Individuals or businesses who frequently make large payments or transactions
02
Users who need to send or receive higher amounts of money than the current limit allows
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The increase maximum payment limit refers to the maximum allowable amount that can be paid under a specific program or policy, which is subject to periodic adjustments based on regulatory changes or inflation.
Entities or individuals who exceed the existing payment limits or who are seeking to adjust their payment limits are typically required to file for an increase.
To fill out the increase maximum payment limit, one must complete the designated application form, provide relevant financial information, and submit any required documentation to the appropriate regulatory body.
The purpose of the increase maximum payment limit is to adjust the threshold for payments to better reflect current economic conditions and to ensure that financial assistance or obligations remain adequate.
Information such as the current payment amount, requested new limit, justification for the increase, and any applicable financial data must be reported when filing for an increase maximum payment limit.
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