Are There Limits to Sending Money to My Kids? | Mydoh

Sending Money to your Child

Are there limits to sending money to my kids?

Are there limits to sending money to my kids?

Parents can of course send money to their kids when they would like, subject to a few daily transfer limits. Please see below for a full breakdown of these limits:

Parent to Kid(s) Transfers $CAD
Number of times Parents can transfer to child’s account per day 10
Number of times Parents can transfer to child’s account per month 40
Minimum amount Parent can transfer to child per transaction $1
Maximum amount Parent can transfer to child per transaction $200
Maximum amount Parent can transfer to child per day $499.99
Maximum amount Parent can transfer to child per month $5,000

 

Learn more about transfers and limits:

Please note: Transfer limits do not increase with the addition of another parent/guardian. Since co-parents/guardians share a wallet balance, the limits apply to the wallet as opposed to its individual contributors.

If you have any questions or are experiencing any issues, please reach out to our support team via the in-app chat, and we will be able to assist you further from there!