Float cards (both virtual and physical) can have two types of limits: Temporary and Recurring! If a Float card does not have a limit created, the default limit is $0.
The difference largely pertains to the limit cycles, and when the card expires. This article explains the difference and use cases between both types to ensure you're getting the best use out of Float!
Temporary limits are meant for one-time expenses within a certain time period. These limits will automatically expire on the expiration date chosen during creation. Temporary limits cannot be re-activated once they have passed their expiration timeline.
Expiration dates can be edited at any time prior to the set expiry date to reduce or increase the remaining lifespan of the limit. You can have multiple temporary limits on a single card on the professional plan.
Best Used for one-time dinner expenses, flight expenses for work trips
Note: Cards are limited to only one temporary limit on the essentials plan.
Recurring limits will renew on a timeline chosen by the creator (daily, weekly, monthly, yearly). The limit and the renewal timeline can be edited at any time prior to the card's expiry date by any administrator on the account. These limits will not expire until the card does; around 3 years after the date of creation. You can only have one recurring limit on a single at a time.
Best used for recurring subscriptions, employee expenses, welfare expenses etc.
Temporary limits cannot be converted to recurring and vice versa. Amounts and renewal schedules can be edited as long as the limit and card are still valid.
How To Edit These Limits?
Editing a limit on Float is quite easy! Follow the steps below to understand how these limits can be changed.
1️⃣ Navigate to the respective card or click here!
2️⃣ Click where it says "Recurring Limit" to edit the recurring limit!
3️⃣ When the screen opens, edit the recurring limit to whatever your business needs!