The Daily Withdrawal Limit is a security feature for Institutional Prime portfolios that caps the total amount withdrawn within any 24-hour window. Daily withdrawal limit includes both crypto and fiat. Deposit amounts will not apply toward the limit.
This limit can be customized by size : 500k, 1mm, 5mm, 10mm, 20mm, 40mm, 60mm, 80mm, 100mm and unlimited.
Additionally, the time the 24hr window begins may be customized to begin at a specific hour determined by the clients local time.
The entire limit will reset once the 24hr window is reached. The limit is displayed in users local time.
When you enter a withdrawal amount, Prime shows your remaining daily withdrawal limit and your per-transaction limit below the amount field. Prime displays an error if the amount exceeds either limit or your available balance.
The daily withdrawal limit applies to the total withdrawn during the configured 24-hour period, including both cryptocurrency and fiat. Deposits do not count toward the limit. The per-transaction limit applies to a single transaction.
To start a cryptocurrency withdrawal, select Manage Funds > Withdraw from your Portfolio page, then select the asset. Review the limits in the withdrawal form before continuing.
Learn more about Withdrawing crypto assets.
Roles with initiation permissions can propose changes to withdrawal limits which will take effect after consensus is met.
Steps:
From the Prime Portfolio Page navigate > Settings
Select > Security Tab on the left hand side
Transfers > Daily Withdrawal Limit> “Edit” link
Confirm the requested changes and proceed
Confirm with YubiKey
E.g. Withdrawal limit is set to 2pm EST for $500K
02:00 PM — Withdraw $300,000 in crypto
05:00 PM — Withdraw $200,000 in USD (Total: $500,000, limit reached)
No further withdrawals until 02:00 PM next day; the limit will refresh to $500,000 again.