Changes in MCA incoming quarterly limit calculation

Dukascopy Bank 08/16/2019 · 3 min read

This article provides information about the limits set for your Multi-Currency Account.

There are two main limits set on your Multi-Currency Account (MCA):

1. The limit on incoming funds for the current quarter determines the maximum sum of deposits that can be made to your account during the current quarter (three calendar months). You can reach the incoming quarterly limit with one operation, or from time to time deposit funds to the account. The limit is reset at the beginning of each new quarter: January 1, April 1, July 1, October 1. The value of this limit is set when you open your Multi-Currency Account, depending on the country of your residence and occupation status.

For example, for a client from the United Kingdom:

If the client is unemployed, the limit value is 2220 USD / quarter;
If the client is employed, the limit value is 4440 USD / quarter;
If the client has verified his income, the limit value becomes equal to 450% of verified monthly income. Thus, if client’s verified monthly income is 3000 USD, then the limit value is equal to 13 500 USD / quarter.

2. The limit on the total balance of the account determines the maximum possible amount that can be kept on your account at a time. By default, the limit is set to $ 50,000. However, if necessary, it can be increased up to $ 100,000. The total balance of your account is calculated by converting the individual balances of all sub-accounts (currency, investment, etc.) into the USD.

For example, client has on his MCA account:

100 USD;
100 EUR (or 110.64 USD at the rate of 1.10639).

In this case, the total balance of client’s account will be equal to 210.64 USD.

Where limits can be checked?

In the Web version of Multi-Currency Account

Log in to your personal account of the Multi-Currency Account (MCA);
Go to the client profile by clicking on your name in the upper right corner of the screen;
Select the “Your Account Limits” section.

In the mobile app Dukascopy - Swiss Mobile Bank

Log in to the Dukascopy mobile app - Swiss Mobile Bank;
Go to the menu section by clicking on the icon in the upper left corner of the screen;
Select the "Limits" section.

In the Dukascopy Connect 911 mobile app

Log in to the Dukascopy Connect 911 mobile app;
Go to the section of Multi-Currency Account by clicking on the BANK icon at the bottom of the screen;
Go to the Bank’s Bot section by clicking on the “+” icon in the lower left corner of the screen;
Select the “Account Limits” section.

Is it possible to increase the value of the quarterly limit?

The limit on incoming funds for the current quarter can be increased to 450% of your verified monthly income. If you would like to increase this limit, send a corresponding request to Dukascopy Support Team.

Is it possible to breach the incoming quarterly limit?

The incoming quarterly limit can be breached by making a one-time deposit. Such deposits are processed manually and require confirmation of client’s source of income, for example:

in case of the sale of property, it is necessary to provide a sales contract;
in case of savings, it is necessary to provide a bank statement;
in case of an inheritance, it is necessary to provide a corresponding testament.