The bank card has exceeded the monthly limit, which means that the amount of transactions or withdrawals made by the cardholder using the bank card in one month exceeds the limit set by the bank.
Banks usually set certain transaction or withdrawal limits for each account to ensure account security and control risk. These limits may vary depending on factors such as the bank's policy, account type, customer status, etc.
When the cardholder's transaction or withdrawal amount reaches or exceeds the monthly limit, the bank may take one of the following actions:
Decline of transactions: Banks may reject transaction requests that exceed the limit to prevent further outflows.
Restricting transactions: Banks may place restrictions on transactions that exceed the limit, such as requiring cardholders to provide additional identity verification information or waiting for a certain period of time before making transactions.
Charge a processing fee: Banks may charge additional fees for transactions that exceed the limit.
In the event that the card has exceeded the monthly limit, the cardholder can take the following actions:
Contact the bank: Check with the bank to find out about the specific limit policy and if there is a possibility of increasing the limit.
Adjust your trading strategy: Arrange transactions and withdrawals reasonably according to the bank's limit policy to avoid frequent limit exceedance.
Request a limit increase: If necessary, you can apply to the bank for an increase in the transaction or withdrawal limit, subject to the bank's requirements and approval procedures.