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Platform fees, Transaction limits & FAQs

Platform fees

Top-up
Purchase Vio tokens directly from the app using Visa or Mastercard.
3.4%
Issuing banks may change additional fees for this service.
Top-up with Vio tokens from a listed digital exchange.
Free
Exchange
Exchange your Vio tokens into your local currency and deposit into your linked Visa debit card.
Free
No exchange fees, No foreign exchange fees
Send & Receive
Send and receive funds - domestically & internationally - to another user’s profile or wallet address.
Free
No transfer fees

Transaction limits

Transaction limits (USD) Topup Exchange Send & Receive
Min amount (per txn) 10 10 10
Max amount (per txn) 1000 1000 10 000
 
Max number of txns per week 10 10 - -
Daily limit 2500 2500 - -
Weekly limit 5000 5000 - -
Monthly limit 10 000 10 000 - -

FAQs

What is Vio?

Vio leverages Blockchain, in combination with Visa Direct technology, to create an innovative digital person to person transfer platform.

What features does the Vio app have?

Vio users can send, receive, exchange, top-up, request and track. All in one simple app.

How do I send money using Vio?

You can send money either to your App contacts or to another user’s wallet address. Make sure that the recipient profile or wallet address is correct, before making any transaction.

How do I exchange money to local currency?

You first need to link your Visa debit card number to your Vio profile. All that’s required is the 16-digit Visa debit card number and expiration date - no security code. The Visa debit card number will always start with a 4 and is printed on the front of the Visa card. You can then exchange your VIO tokens to local currency, and funds will be deposited into your linked Visa debit card account.

How do I receive money using Vio?

To receive money using VIO, you need to request funds from the person who will be sending you money. They can send you money either to your profile or wallet address.

How long does it take for the money to be available to me, after exchange?

If the your bank has been enabled for Visa Direct fast funds, the money can be available in your bank account within 30 minutes or less. If not, your bank will typically make the money available in your account within 48 hours.

Do I need a new Visa Debit card for Vio?

No, Vio works with your existing Visa debit card.

How do I access the funds transferred to my Visa card?

Funds that are exchanged to local currency will be deposited into to your Visa debit card account. Once the funds are available in your account, they can be accessed through your Visa debit card wherever Visa is accepted worldwide.

What type of money transfers can I use Vio for?

Person-to-Person transfers - For things like splitting expenses and personal IOUs.
Remittances - To transfer money internationally.

Which countries can I send funds to or exchange using Vio?

Please refer to our Supported Countries section. Other countries will be coming soon.

Is Vio only used for international transfers?

No, users can send and receive money domestically as well.

Are there fees payable for sending, receiving or exchanging funds?

No, there is no fees payable for sending, receiving or exchanging funds. There is also no foreign exchange markup.

How is the Vio token rate calculated?

The daily VIO token rate (buy and exchange) is calculated as an average of the exchanges that VIO will be listed on, and by country-specific market factors such as demand and supply.

What is the receiving and sending transaction limits?

Please refer to our Transaction Limits section.

Can I reverse a Vio transfer?

No, unfortunately all successful transfers are final and cannot be reversed. Make sure that the recipient profile or wallet address is correct, before making any transaction.

Can I claim against a fraudulent transaction?

No, unfortunately all successful transfers are final and cannot be claimed against for fraud. Never share your App username and password with anyone.

Is my money safe with a Vio transaction?

Yes, the Ethereum blockchain and Visa's network ensures transactions are secure and protected during transfers and exchange. Never share your App username and password with anyone.