what is deposit limit before bank paperwork?

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  • Question
  • Updated 9 years ago
what is the limit of a deposit into a personal checking account before you have to file extra paperwork?
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  • unsure

Posted 9 years ago

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Sheena, Employee

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Dear Keith,

Thank you for your enquiry. You will need to supply us with verification of your credit card information and your identity if:

• You wish to deposit more than $250.00 using your credit card over a thirty-day period.
• You wish to withdraw funds from your account and you have previously used a credit card to fund the account

We recommend you do this early to ensure there are no delays when requesting withdrawals from your account.

To verify your credit card and identity we require the following:

• A copy of photo ID (such as drivers license or passport)
• A copy of the front and back of your credit card
• Proof of address if not shown on your ID (such as a utility bill, official letter or bank statement in your name)

This information can be scanned or photographed and emailed to help@intrade.com, or faxed to 1-866-303-1924 (or +353-1-6200-396 if outside the US). If you are faxing the information please ensure you make the fax as light as possible so we can read all details.

We appreciate that this information is sensitive and you may black out anything not needed for verification. We need to see the first six digits of your card number, the expiry date, and the name and signature. We do not need to see the last ten numbers on your card or the three-digit CCV code on the back. This information never shared with anyone else and is stored in a secure location.

This information is requested to ensure that all credit card transactions have been made by the authorised holder of the credit card and is an important element of our anti-fraud procedures.

Please note that this information is for our own verification purposes only and does not guarantee your bank will allow you use your credit card to deposit funds to your account.

If you have any further enquiries or comments please do not hesitate to post them here.