This guide breaks down the costs associated with your Teya Business Account and explains the transaction limits in place to keep your money safe.
Fees
Below is a full breakdown of the fees that apply to your Teya Business Account.
| Operation | Price |
|---|---|
| Opening & maintaining account | Free |
| Funds transfers | Free |
| Direct Debits | Free |
| Physical & Virtual Cards | Free |
| ATM withdrawals | Up to 30 free per month (then £0.50 per withdrawal) |
| Cash deposits | £2 per deposit |
Account limits
To protect your funds, we apply specific limits on certain actions, such as transfers and withdrawals.
These limits are based on your expected annual sales turnover with Teya (the total sales you process through your Teya Account). We aim to keep these limits flexible enough that they do not interrupt your daily business operations.
| Action | Single limit | Daily limit | Monthly limit | |
|---|---|---|---|---|
| Money transfers | £16,000 | £20,000 | £60,000 | |
| Card payments (in person) | £5,000 | £10,000 | ||
| Online card payments | £3,500 | £8,000 | ||
| ATM withdrawals | £400 | |||
| Cash deposits | £500 | £3000 |
| Action | Single limit | Daily limit | Monthly limit |
|---|---|---|---|
| Money transfers | £24,000 | £30,000 | £90,000 |
| Card payments (in person) | £7,500 | £15,000 | |
| Online card payments | £5,250 | £12,000 | |
| ATM withdrawals | £400 | ||
| Cash deposits | £300 | £3,000 |
| Action | Single limit | Daily limit | Monthly limit |
|---|---|---|---|
| Money transfers | £40,000 | £50,000 | £150,000 |
| Card payments (in person) | £12,500 | £25,000 | |
| Online card payments | £8,750 | £20,000 | |
| ATM withdrawals | £400 | ||
| Cash deposits | £300 | £3,000 |
How to view your limits in the Teya App
You can check your specific limits directly in the Teya app at any time:
- Open the Teya app.
- Go to Transfers.
- Select a recipient.
- Tap View Limits.
Changing your limits
If your business needs change and you require higher limits, you can request an amendment. Contact Team Teya and we will review your eligibility.