Spending Limits
Each risk level is subject to the initial spending limit. The limit can be increased to the next level if additional due diligence steps are completed (compliance questionnaire and Source of Funds proof).| Risk Category | Tier (Access Level) | Annual Limit | Required Verification |
|---|---|---|---|
| Low risk | Tier 1 | 27,000 EUR | Government-issued ID + Liveness check + Proof of address |
| Tier 2 | Unlimited | Government-issued ID + Liveness check + Proof of address + KYC Questionnaire + SoF proof | |
| Medium risk | Tier 1 | 27,000 EUR | Government-issued ID + Liveness check + Proof of address + KYC Questionnaire |
| Tier 2 | Unlimited | Government-issued ID + Liveness check + Proof of address + KYC Questionnaire + SoF proof | |
| High risk | N/A | Unlimited | Government-issued ID + Liveness check + Proof of address + KYC Questionnaire + SoF proof |
Spending Limits Increases
Iron sets spending limits per customer to support its risk-based approach to transactions oversight. When a customer reaches their threshold, transactions may be temporarily blocked until further verification is completed.How It Works
When a customer hits their transaction or balance limit:- The transaction is paused.
- The customer’s status moves to
IdentificationRequired. - Iron triggers a tier upgrade, requiring additional identity verification (including Source of Funds, “SoF”).
- The partner is responsible for providing the customer with the identity link for the tier upgrade.
Partner Responsibilities
- Providing the customer with the identity link for the tier upgrade.
- or contacting the end customer and collecting the required documents (e.g., Source of Funds, Source of Wealth) and passing it to Iron compliance team
Timing matters:
- If the customer submits the documents within 24 hours, Iron reviews, clears the transaction, and may raise the customer’s limit.
- If the customer fails to provide the required documents in time, the transaction is rejected and returned.
Bank-Triggered Blocks
In some cases, a banking partner may block a transaction due to compliance concerns. Iron’s compliance team will:- Contact the partner and request additional customer documentation (typically SoF).
- Optionally, set the customer status to
IdentificationRequired. - The partner should assist the customer in providing the documents promptly to avoid transaction rejection.
Important Notes
- Iron’s compliance team may apply new limit thresholds after reviewing the submitted documentation.
- Even if the document arrives after the 24-hour window, limits may still be raised, but the original transaction will not automatically resume — it must be retried.
Source of Funds (SoF) Document Requirements
Every document must include: Customer Name, Current Address (matching onboarding), Issue Date, and Financial Value.| Source of Funds | Accepted Documents | Validity |
|---|---|---|
| Salary | Bank statement (2 payments) or payslip | < 3 months old |
| Savings | Bank statement from the holding institution | < 3 months old |
| Inheritance | Signed letter from a licensed solicitor or estate trustee | No expiry |
| Crypto | Wallet/Account screenshot (with name/address); add bank statement for DEX users | < 3 months old |
| Investments | Copy of investment portfolio statement | < 3 months old |
| Company Profits | Dividend distribution certificate | < 12 months old |
| Sole Trader | Bank statement (2 payments) or latest tax return | 3 months for bank / 12 months for tax |
| Pension | Pension statement or bank statement (2 payments) | < 12 months old |
| Rental Income | Signed Rental Agreement | Must be valid for 3+ months |
| Property Sale | Copy of the signed sale contract | No expiry |
| Company Sale | Sale contract + screenshot of Registry (showing change of ownership) | No expiry |
| Benefits | Government document + bank statement (2 deposits) | < 3 months old |
Minimum Transaction Amount
- The minimum supported transaction amount is 1 EUR (or equivalent value).
- Any transaction request below this threshold will not be executed, as the processing and network costs would exceed the transferred value.
- We strongly recommend that partners clearly communicate this minimum to their end users, especially during onboarding or when guiding them through their first test transaction. This helps avoid confusion and unnecessary troubleshooting.