How do I raise my monthly withdrawal limits?

As your trusted financial partner, we're thrilled to hear about your financial success! We'd happily support you further on your financial journey.

By default, all accounts have a withdrawal limit of $5,000 that replenishes every first day of the month (UTC Timezone). However, we understand the need to increase this limit based on your growing finances. You can request for a permanent or temporary limit increase – a combination of both in some cases can also be approved, depending on your situation.

To expedite the assessment of your request, please ensure the submission of the most recent and accurate information, documents, invoices, and contracts. They should provide sufficient proof of your income and the need for the limit increase.

How to Request

To request for a withdrawal increase, fill out the form here and fill out all necessary information. Please make sure the form you are filling out is Withdrawal Limit Increase.**

The form will require you to submit documents, please make sure that 

• Documents should show relevant dates

• Documents should show the total dollar amounts or expected amounts. This will help us determine the right limits to set for you on a monthly basis

Here are some examples of proof of documents:

• Paychecks from your employer, at least from the past three month

• Invoice statements from your client, at least from the past three month

• Contract showing terms of engagement from your client or employer

• Offer letter from your employer with expected compensation

• Any other proof of income or statements that show where you are receiving your funds

From there, we'll get a sense of the total from those documents and can use that as basis for your limits.

Timeline

Once submitted, it may take the team up to 3 business days to review:

• If approved - you'll see an automatic increase in your withdrawal limit, and our team will reach out to you.
• If under review - we may reach out to ask for additional documents if insufficient.
• If it's been 3+ business days - you may follow-up with the submitted ticket.

Agreement Policy: By submitting the increase request form, you acknowledge and agree that it is a privilege subject to review and approval by the Parallax team. You also understand that additional proofs or documents may be required to support your claims during the assessment process, and that if insufficient documents or information are provided, it can lead to the denial of your request. Furthermore, you attest to the accuracy and legality of the sources of funds associated with the request.