Float cards can have two types of limits: Temporary and Recurring. By default, if no limit is set on a Float card, its limit is $0.
The key difference between these limit types lies in their cycles and expiration. This article will help you understand the distinctions, so you can make the most of your Float cards.
Only administrators can set or edit card limits. However, spenders can request new limits by submitting a spend request for their card.
Guide Overview
Creating New Limits on Float Cards
How to View Active Limit Approvers
Temporary Limits
Temporary limits are meant for one-time expenses within a certain time period. These limits will automatically expire on the expiration date chosen during creation. Temporary limits cannot be reactivated once they have passed their expiration timeline.
Limit expiration dates can be edited at any time prior to the set expiry date to reduce or increase the remaining lifespan of the limit.
Temporary limits will automatically expire at 12:00 am ET the day after the selected expiry date. For example, if a limit expires on July 22, it will deactivate at 12:00 am ET on July 23.
Professional Plan customers can have multiple temporary limits on a single card.
Recurring Limits
Recurring limits will renew on a timeline chosen by the creator (daily, weekly, monthly, yearly). The limit and the renewal timeline can be edited at any time prior to the card's expiry date by any administrator on the account. These limits will not expire until the card does.
Only one recurring limit can be active on a card at a time.
Creating New Limits on Float Cards
Creating limits during card creation:
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- Navigate to Cards > Create Card > Select Physical or Virtual > Input card details
- Under Limits > Add Card Limits > Add Temporary or Recurring limit
- Enter limit details > Click Create
- The card will be created with temporary limits already in place and is ready for immediate use
Creating limits on an existing Float card:
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- Navigate to Cards > Select Physical or Virtual > Select a card
- Navigate to Spending Limits > Select "Create Limit" or "Add Temporary Limit"
- Enter the limit details > Create Limit
Important considerations:
- Temporary limits cannot be converted to recurring limits, and vice versa
- Cards can only have one recurring limit at a time
- Amounts and renewal schedules can be edited as long as the limit and card are still active
How to Edit Existing Limits
Editing a limit on a Float card is a simple process that can only be done by an Administrator.
To do so:
- Log in to Float as an Administrator
- Go to the Cards page > Physical or Virtual > Select the card you want to edit
- Under Limits > click the limit name or amount that you want to edit (Recurring or Temporary)
- Input the new limit details > Click Submit
FAQs:
Can limits be applied to specific merchants?
No, it isn't possible to apply limits to transactions with specific merchants or vendors, or to fully block or restrict transactions with specific merchants or vendors. To restrict purchases by merchant category, see: Merchant Category Controls on Cards.
Why might a card’s limit show a negative remaining balance?
A card limit may show a negative remaining balance if a merchant force-captures a transaction, or if the recurring limit is reduced to less than the amount already spent before it refreshes.
When I edit an existing temporary limit, does the change take effect right away?
Yes. Any changes to a temporary limit take effect immediately.