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This Cashplus account has a maximum balance of £15000 and maximum load of £15000 - could you explain what maximum load means and what is the difference?(https://secure.membersaccounts.com/tc/bus-tc1/terms-and-conditions.pdf)?

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The "load" is the act of you directly putting money into the account for the card. The "maximum load" is thus the most possible money you can add to the account at one time.

What makes this different from a "maximum balance" is that you can add money to your balance separately from a load - specifically, from getting a refund. So technically you could load 15000 onto the account, spend 5000, load 5000 more, and that would be OK. If you get a refund before you spend more out, however, you would exceed the maximum balance and be in violation of your card agreement - even though you didn't violate the maximum load amount.

The load is also mentioned later in that table, in the form of maximum annual load/spend (which are both unlimited on that card), so this helps to clarify that this "maximum load" is actually the maximum amount you can load at any one time.

Some cards actually have maximum daily/monthly loads which are different than their maximum balances or spend sums, which makes the difference in the definitiosn of "load", "spend", and "balance" to be important distinctions.

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  • maximum balance is the total amount I can have in the account right? This seems like quite a low amount on a business account? – Andrew Welch Jan 6 '16 at 16:17
  • @AndrewWelch The maximum at any one time, yes. If this is a kind of pre-paid credit card, that balance is actually much higher than most such cards allow. Greendot (as an example) has maximums of $2500-$10000. However if this were something like a traditional bank account, yes that maximum is absurdly low. But as this sounds like a prepaid credit/debit card, the low maximums are typical and I believe influenced by the reduced identity verification on obtaining them - to prevent money laundering and funding of illegal activity, basically. And to direct true high balances towards plain accounts. – BrianH Jan 6 '16 at 16:21

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