Spending limits and cash withdrawal limits help you control how much can be spent using each Soldo card. They’re flexible, simple to set, and apply instantly, giving you peace of mind that company funds are used exactly as intended.
What are spending limits?
Spending limits define the maximum amount that can be spent with a card within a set time period. They help you manage budgets, avoid overspending, and align card usage with your company’s spending policy.
Spending limits can be applied to each card, but the card can only use the funds available in its linked wallet (the card’s funding source). If a wallet holds £500 and the card has a monthly spending limit of £1,000, the user can still spend only what’s available, in this case, £500. Limits cap spending, but they don’t add extra funds.
You can apply the following types of spending limits:
- Monthly - cap total spend per month
- Weekly - limit spend per week
- Daily - restrict daily spend
- Per transaction - set a maximum spend per payment
You can combine multiple limits on the same card. For example, you might set a monthly limit of £1,000, a weekly limit of £300, a daily limit of £100, and a per-transaction limit of £50. This provides layered control over how funds are used.
Spending limits can be updated at any time, and any changes are applied immediately. You can apply them to both plastic cards and virtual cards.
How to set spending limits
- From the navigation menu, select Cards.
- Select the card you want to manage.
- Select the Rules tab.
- Select Spend limits from the list of available rules.
- Click Add limit.
- Choose the limit type: Monthly, Weekly, Daily, or Per transaction.
- Enter an amount and select Save.
You can add multiple limits on the same card or edit them at any time. To update, disable, or remove an existing limit, click the More options icon (three dots) next to it.
Set cash withdrawal limits (plastic cards only)
If your company uses plastic cards, you can also control how much cash can be withdrawn from ATMs. This allows you to restrict or completely block cash withdrawals while still permitting regular purchases.
Withdrawal limits only apply to plastic cards, they don’t apply to virtual cards or plastic fuel cards, as these can’t be used to withdraw cash.
How to enable and set cash withdrawal limits
- From the navigation menu, select Cards.
- Select the relevant card.
- Select the Rules tab.
- Enable the Cash withdrawals (Chip & Pin) rule for the card.
- Once enabled, select Withdrawal limits.
- Click Add limit.
- Choose your limit type: Monthly, Weekly, or Daily.
- Enter an amount and select Save.
Like spending limits, you can apply multiple withdrawal limits to the same card and update them at any time. You can also disable cash withdrawals completely if you prefer.
Bulk updates for larger teams
If you’re on the Unlimited plan, you can use the Bulk card rules feature to apply spending limits to multiple cards at once, saving time when managing larger teams and high volumes of cards.