We do not have any deposit limits! We do have a default monthly withdrawal limit of $5000. However, we understand you may be earning money (which we love!) so there's a straightforward process for raising limits. Learn more about raising limits and other individual account withdrawal limits here.

We currently have no fees for receiving deposits. We keep very competitive exchange rates (equal to or sometimes better than when you search it on Google, Wise, or Payoneer!) We don’t currently charge markups on these exchange rates. Fees and exchange rates will always show transparently as part of a transaction, unlike other applications. We have only one transfer fee, which you will transparently see for every transaction—no extra hidden conversion fees. Our goal is to reduce these over time, until fees are near zero!

For freelancers or remote workers, we need basic information such as your legal first and last names, date of birth, address, identification number and email. We also confirm how you will use Parallax (which should be for freelancer or salary purposes), and your sources of funds. We then securely verify your information with your passport or driver’s license and other government IDs soon, and a selfie liveness check to make sure you're a real human! The entire process can be as quick as 5 minutes if no additional reviews are needed.

Sending and receiving money to other Parallax users using our Send product is ‍instant! Get your money in seconds! Actually. ‍ ‍Once you have your money in Parallax, depending on your transaction size and withdrawal destination, it takes as quickly as 1-2 minutes to see your money in your accounts or wallets. Deposits from external USD accounts use the ACH or Wire transfer method, which are outside of Parallax' control and can take anywhere between 1-5 business days.

We enable MFA for every user that signs up. We log you out every 12 hours and you have to sign back in with an OTP or through your Google log-in to ensure it's you and only you who as access to your account. Also, we have a unique security setup. When you sign up, you will create a PIN and download a Security File. Keep those safe as those will be required to make any transaction. Your funds are held in self-custodial wallet that you have ownership and control over, meaning we or our partners will not be able to access or run away with your funds and only you would have authorization to make transactions. Read more here.