Spending limits
Each virtual card comes with custom card controls that let you set spending limits if you want. If a transaction is over the limit, we will automatically decline the limit.
For each Cards+ virtual card you can set a:
- Daily limit
- Monthly limit
In the near future, we’ll also allow you to set merchant locks on these cards and link all spending on a card to a specific bill or goal.
Card types
There are two virtual cards types: a Single-use card and a Standard card.
Single-use virtual card:
A single-use virtual card is a one-time use card that will automatically get terminated once your first transaction is authorized. This is a helpful card to use for free-trials, online shopping, virtual marketplaces or classified ads.
Once a card is terminated, it cannot be re-activated. Any transactions in progress, should be processed without any issue.
Please note, you will not be able to receive a refund on a single-use card. In such a situation, you can provide the merchant with a different card to receive your refund.
Standard virtual card:
Standard virtual cards that can be customized to set daily and/or monthly spend limits. For example, if you see your standard card to have a $500 monthly limit for groceries, once your transactions total over $500 for the month, we’ll automatically decline these purchases.
In the near future, we’ll also allow you to set merchant locks on these cards and link all spending on a card to a specific bill or goal.
More limits coming soon
In the near future, we’ll also allow you to set merchant locks and link spending on a card to a specific bill or goal.