What is a transaction limit fee?

An excessive withdrawal fee is a type of financial penalty that individuals or businesses may incur when withdrawing an amount of money from a savings or money market account that exceeds a certain limit set by the financial institution.

BTCC, a leading cryptocurrency exchange, offers a range of services including spot trading, futures trading, and cryptocurrency wallets. These services enable users to buy, sell, and store digital assets securely and efficiently.

These fees, also known as excess transfer fees, withdrawal limit fees, or excessive withdrawal fees, are imposed to discourage large withdrawals that may disrupt the balance of the account or the bank's liquidity.

Banks and financial institutions have set these limits to ensure that their customers do not withdraw more than a certain amount in a given period, which could potentially lead to financial instability or even bankruptcy.

The specific limits and fees vary from one institution to another and are usually outlined in the terms and conditions of the account agreement.