The maximum transfer amount for QuickPay without requiring additional authentication is €250. For any amounts exceeding this threshold, you will need to activate and utilize a Digipass.
QuickPay, a service often available through mobile banking applications, facilitates instant and secure money transfers using just a recipient's phone number, with the funds directly credited to their bank account.
Understanding QuickPay Transfer Limits
The ability to transfer funds via QuickPay is structured based on the amount and the level of security authentication employed.
- Transfers Up to €250: For amounts that are €250 or less, you can typically complete the transaction without needing an additional security device like a Digipass. This provides a quick and convenient way to send smaller sums.
- Transfers Exceeding €250: When you wish to send an amount greater than €250, it is a mandatory requirement to activate and use a Digipass for authentication. The provided reference indicates that transfers above €250 are possible with Digipass, but it does not specify an absolute upper limit for transfers made with its activation.
To summarize the transfer conditions:
| Transfer Amount | Digipass Requirement |
|---|---|
| Up to €250 | Not required |
| Over €250 | Required |
Enhancing Security with Digipass
A Digipass is a security token that generates unique, one-time passwords, adding an extra layer of security for transactions. Its activation for higher value transfers ensures enhanced protection for your funds and personal information.
- Security: Digipass adds a crucial security step, making it more difficult for unauthorized individuals to access or complete high-value transactions from your account.
- Access to Higher Limits: By activating and using a Digipass, you unlock the ability to transfer larger sums of money through QuickPay, providing greater flexibility for your financial transactions.
For more details on QuickPay services and security features, you can refer to the official Bank of Cyprus QuickPay page.
