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balanced / balanced-api

Balanced API specification.
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Should there be a Balanced imposed transaction limit for push to card? #598

Closed matin closed 10 years ago

matin commented 10 years ago

Visa OCT, one of the methods Balanced is using for push to card, has a transaction limit of $2,500. As far as we can tell, this is the lowest limit for partners Balanced is using for push to card.

There's some wisdom in having a limit that's predictable instead of being surprised based on the rules set by the network or bank.

This was proposed by @dmacquart.

matin commented 10 years ago

@dmacquart Is the limit per transaction? Can a marketplace issue back to back $2,500 transactions?

dmacquart commented 10 years ago

the VISA OCT system limit is per transaction so in theory, yes, someone could do multiple back to back $2,500 transactions. However, individual banks have their own limits so this complicates things.

matin commented 10 years ago

@dmacquart Can you share information regarding any other network limitations? We won't know how banks respond until we start processing transactions, but network limitations should be defined.

in theory, yes, someone could do multiple back to back $2,500 transactions.

Could someone at Visa confirm/deny that this is the case? If the $2,500 is established for AML reasons, then it may be a daily limit.

matin commented 10 years ago

Going to start off by having the limit at $2,500. Creating another issue to track whether there are any other limits.