A spending limit is the maximum amount you can spend within a specific rolling period. These limits are enforced to ensure the financial security of your payment account.
Spending limits serve the following purposes:
| Purpose | Explanation |
|---|---|
| Fraud prevention |
Companies set limits to reduce the risk of fraud. |
| Financial protection |
Both individual and company cardholders set limits to protect funds.
|
| Institutional security |
Financial institutions might enforce limits to protect themselves from liability. |
Rolling spending limits
Rolling spending limits aren't fixed to specific dates or times. Instead, they're determined by how much you spend during certain periods. For example, you might have a limit of €5,000 over 30 days, €1,500 over 7 days, and €500 over 24 hours.
Spending limits are calculated over a certain rolling period from your first transaction.
Limits set by account providers
The Swan partner providing your payment account may set specific spending limits depending on whether you are an individual or company account holder.
Make sure to always keep the amount your spending limit is set at, such as 1500 euros over 30 days, in your account to prevent overdrafts or negative balances.
Cards with an all-time limit enable a specific spending amount to be used over the lifetime of the card. After this spending limit is reached, the card becomes invalid, and you can no longer use it.
Please check your specific spending limits in your Web Banking app, or reach out to your Swan partner support team.
Limits set by account holders
As an account holder or an account member with permission to manage cards, you can adjust spending limits over varying periods: 24 hours, 7 days, or 30 days.
You can lower spending limits when creating cards for yourself or other account members. The spending limit imposed per payment account is shared collectively; however, the spending cap can be adjusted per cardholder.
Keep your limits within your provider's preset spending limits to avoid transaction rejections.
Consider the following examples:
Example 1: Company cardholder transaction with a €50,000 spending limit over a 30-day rolling period
- If the company has five cards for each account member, they can spend up to €50,000 altogether in a month.
- If they’ve set the same spending limit for each card, none of the members can spend more than €10,000 individually.
Example 2: Individual account holder ATM withdrawal with a €5,000 spending limit over a 30-day rolling period
- If you have two cards, you can withdraw a total of €5,000 within a month, shared between both cards.
For more guidance on spending limits, see the guides on checking and adjusting your spending limits within your banking app. If you have further questions, submit a request to Swan Support.