Mobi.me, the bitcoin wallet app designed under Chinese bitcoin exchange BTCC announced today that due to new compliance requirements from Visa, the amount of cash that verified Mobi Prepaid Card users can withdraw each day will be decreased starting on January 17th, 2018. The new maximum daily ATM withdrawal limits will be $1,000 for USD, €1,000 for EUR, and £800 for the GBP cards.
Aside from updated ATM limits for verified users, there are also new spending limits for unverified Mobi Prepaid Card users. The changes will be starting at 11:59 PM (UTC) on January 16th, 2018. If a user already has a verified ID and proof-of-residence, they won’t be affected by these changes and will be able to continue using the Mobi Prepaid Bitcoin Visa Card as normal.
The new spending limits for Mobi Prepaid Card users who have not verified their ID and proof-of-residence are below:
| Mobi Prepaid Card User Spending Limits | ||||
| Unverified Users | ||||
| USD Card | EUR Card | GBP Card | ||
| ATM Withdrawals | Number of Transactions | 2 | 2 | 2 |
| Maximum Withdrawal Limit per Transaction | $100.00 | €100.00 | £80.00 | |
| 24-hour Cash Withdrawal Limit | $100.00 | €100.00 | £80.00 | |
| Maximum Cash Withdrawal Limit | $100.00 | €100.00 | £80.00 | |
| Cumulative Amount（including ATM withdrawals） | Number of Transactions | 5 | 5 | 5 |
| Maximum Limit per Transaction | $250.00 | €250.00 | £200.00 | |
| 24-hour Cumulative Limit | $250.00 | €250.00 | £200.00 | |
| Maximum Cumulative Amount | $250.00 | €250.00 | £200.00 | |
| Depositing Funds to Visa Card | Max Limit per Transaction | Not available | ||
| 24-hour Cumulative Limit | ||||
If a user does not verify their prepaid card by 11:59 PM (UTC) on January 16th, 2018, then the Mobi user will only be able to withdraw a cumulative maximum of $100/€100/£80 in cash through ATMs, and the cumulative spending limit (including past withdrawals and spending) cannot exceed $250/€250/£200.
If ATM withdrawals and cumulative expenses do not exceed the new limits outlined above, then a user will still be able to use the prepaid card as normal.
The Mobi card is operating from the EEA area under Gibraltar’s e-money regulations.
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