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This article helps you understand how to set and manage spending limits on your Capital on Tap Business Credit Card.
Overview
As a main account holder, you have the option to set spending limits for your cards and for your employee cards. These limits can be adjusted at any time and will refresh at the start of each billing period.
How to set spend limits
You can set various types of spend limits on your cards and your cardholders' cards.
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Billing period spend limit: This limit controls the total amount that can be spent within a single billing period.
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Single transaction spend limit: This limit restricts the value of a single purchase. Transactions that exceed this limit will be declined.
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ATM block: You can choose to allow or block ATM withdrawals for your cardholders.
Important: You can set these controls in the app or portal by navigating to the 'Cards' tab, selecting a card, and clicking 'Add spend controls'.
Balance notifications
Main account holders can receive notifications when balances reach certain thresholds.
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Go to 'Your account'.
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Select 'Notifications'.
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Select 'Balance alerts' and set the threshold where you want to be notified.
Can cardholders change the limits on their cards?
No, only the main account holder can change the limits on their own card or the cards of their cardholders.
Can a cardholder see the limits on their cards?
Yes, cardholders can view the limits on their cards in the 'Cards' tab of your portal.
Can I receive a notification every time a payment is made?
No, you can't set up notifications for every individual transaction.