What Are Spending Limits?
Spending limits are financial controls that restrict how much can be spent using a corporate card within specific timeframes. They act as automatic safeguards to prevent unauthorized or excessive spending.
Here is how to manage physical cards spending limits on Bujeti.
Step-by-Step Instructions
If you're creating a new card, you can configure spending limits as part of the setup process:
Step 1: Navigate to "Cards" in your dashboard sidebar and click "Create a Card"
When the card type options appear, select Physical Card and then click on "Create Card" to proceed with the physical card configuration.
Select “Advanced card settings” from the drop-down and scroll to the "Spending Limits" section of the card creation form.
Enter your desired limits already created (Transaction limit, daily limit)
Your spending limits are now active and will apply once the card is activated.
Method 2: Setting Limits for Existing Cards
Step 1: Log in to your Bujeti dashboard and click "Cards" in the sidebar menu.
From your list of cards, click on the physical card you want to configure to open its details page. On the card details page, click the three-dots and the select " Edit card settings" button.
In the settings panel, locate the "Spending Limits" section.
After entering your new limits, click "Update settings" to apply the changes.
By following these steps, you can ensure that each cardholder's spending is aligned with your business's financial goals, while also promoting accountability. You can also see how to create a policy and setting spending limit here