On 26th November 2018, the EU’s Fourth Anti-Money Laundering Directive (AML IV) came into force in Ireland and one of its sections relates to limits to card usage and storage. This law will apply to all 3Money customers from the 18th April 2019.
You will have lower limits on top up, spend, balance held and withdrawals if you haven’t verified your identity (Premium). This won’t affect you if you’ve already provided verification documents for your account.
Your new limits, without verification, from 18th April will be:
Submitting your documents and verifying your account will increase your limits to:
Verifying your account is free, easy and usually takes less than 48 hours. Get started below.
There are a few different ways you can verify your card:
You’ll need to provide high quality images, in full colour, of your ID and proof of address. It normally takes two working days to verify your card if all your documents are correct. You can use any of the following:
For your ID:
For proof of address (dated within 3 months):
The submitted documentation will be reviewed within 48 hours. After this time frame your account will either be verified and your card will be Premium, or you will be contacted to provide additional information (e.g. a clearer image). Please remember that high quality images are required for account approval.
Remember, the documents must be full colour, have the name of the card holder and include the whole document within the picture.
Click here to verify and move to Premium.
It normally takes up to two days provided your documents are correct.
There’s no impact and no action is required.
Yes, the process is absolutely free.
The transaction will be cancelled and you’ll receive an error message.
You won’t be able to add money until your balance is lower than €250 - unless you verify your account and move to premium.
The current limits, if you don’t submit the required documents, will be:
By having your documents verified, your limits will increase to: