Your card comes with a default spending limit that you can adjust directly in the app.
To change your limit:
From the home screen, tap your card
Tap Daily Limit
Adjust your spending limit
Changes take effect in under a minute. Your daily spending limit resets every day at midnight UTC.
Examples to Illustrate
Scenario 1: Your Cash Balance is $200, but your card shows a spending balance of $0. This could be due to a low daily spending limit or pending transactions.
Scenario 2: Your Cash Balance is $150, but your Spendable Cash is $120. This indicates $30 is reserved for pending transactions.
Pending Transactions and Pre-Authorization Holds
When you make a payment, merchants may place a temporary pre-authorization hold on your account. These funds are reserved and deducted from your Spendable Cash until the transaction settles. For example, if your Cash Balance is $100 and there’s a $15 pending transaction, your Spendable Cash will be $85 until the transaction is finalized. Key Points:
Pending transactions temporarily reduce your Spendable Cash.
Once the transaction settles, the Spendable Cash updates automatically to reflect the available balance.
Understanding Balance Types
Cash Balance: This is your total account balance, representing all the funds available in your account.
Spendable Cash: This is the portion of your Cash Balance that is immediately available for spending. It excludes funds reserved for pending transactions or pre-authorization holds.
Card Spending Balance: This reflects the amount you can spend using your card. It may be influenced by daily spending limits or pending transactions. When using your card, you may notice that the spending balance displayed on the card differs from your total Cash Balance. This discrepancy can occur due to daily spending limits, pending transactions, and pre-authorization holds. For example, if your daily limit is $50 and you’ve spent $20, your card will show a spending balance of $30, even if your Cash Balance is higher.