The payment limit determines the limit imposed in the event of payment and withdrawal via a bank card. The range of bank cards, customer income and the principles adopted by each banking institution are factors that define the payment cap. It is calculated over a period of 30 days for which an amount not to be exceeded is fixed. In the event that the purchases exceed the determined restriction, the visa card is blocked until renewal. Simply contact your advisor or a bank agent to find out the limit of your visa card. This can be changed at any time. The change can be temporary or permanent. You can do this on your own or ask your advisor for help. In this article, I bring you everything you need to know about the visa card payment limit.
Credit card payment means the maximum amount authorized to make a payment. The user cannot exceed this imposed limit. In case you consider paying above this limit, there is a risk of a refused payment. Who imposes the payment limit? It is set by an account agreement between the bank and his client. The top spend agreement that you can charge to your card can be determined on a weekly or monthly basis.
It is possible to modify the credit card payment limit. This can be increased or decreased depending on the circumstances. Thus, when you plan to make exceptional purchases , the maximum amount can be increased. However, this process is carried out by a request granted to his banker.
The visa card payment limit designates the maximum amount not to be exceeded for payment of provisions. The limitation does not happen by chance. It has two well-defined objectives. It allows the bank to prevent you from misusing your account. This way seems to be arbitrary. But it can only be beneficial. In practice, it helps you better manage your own money. You no longer need to make a monthly distribution. It is also for the same reason that the bank sets a maximum withdrawal amount.
The other factor is for security concerns. The payment cap prevents the liquidation of your sum by a false user. It serves to decrease the impact of theft on each user’s card.
For a visa card, the payment restriction is determined in a rolling period of one month or 30 days. However, this changes depending on the bank. Some offer a usage cap for 7 rolling days.
The visa card payment limit is not a fixed amount. It is determined according to the different types of cards. It is therefore likely to vary from one card to another.
1. How to determine the payment limit of a visa card?
The determination of the maximum sum to be used for a payment card depends on three criteria. Thus, the imposed limit changes according to these three aspects:
The type of card: the financial institution in competition is so numerous. Each person belongs to a different banking institution. The latter has its own mode of operation and a bank card that distinguishes its customers. You can therefore hold a classic visa card or a premium visa card.
It also depends on the bank. The latter is free to choose a ceiling he wishes. However, we can always discuss it with your advisor. The third option is therefore to determine the ceiling by negotiation.
Each banking establishment is obliged to inform you of the payment and withdrawal limitations as soon as your account is opened.
2. What are the different types of capping according to the visa cards?
The limitation is not the same depending on the range of visa cards you choose. There are two ranges. There is :
If you want to benefit from a higher cap. My advice is to use a premium card. It provides for a large cash flow. You can enjoy financial freedom. It also helps to avoid annoying blockages.
Note: Regardless of the card chosen, you always have the right to increase the limit provided.
You will have been able to choose the range of bank cards for your payment. Now, the most important thing is to know everything about the credit card limit. How to calculate it? Remember that the credit card limit is a threshold of withdrawal and payment that can be made within a time limit.
There are two ways to calculate it. For withdrawal, it is calculated over 7 days while for payment, it is counted over 30 days. Whether for the withdrawal or payment account, the counter resets to 0 on the day of the 7th and/or 30 rolling days. More specifically, the day after the 30th day and/or the 8th day thereafter.
The blocked Visa payment card is automatically unblocked on the date the expense counter is returned. So you can start making a new purchase. Each payment and withdrawal made is recorded directly on the credit card’s cb chip. They are automatically added to the previous ones.
When the limit of amount to be paid by means of a card is exceeded, then invoicing is simply impossible. Are there other solutions? In principle, there is no alternative. You are therefore obliged to reduce the amount to be transferred. However, the transfer can be finalized if the ceiling is exceeded. This is subject to conditions. Merchants must have a transfer authorization via their refund terminal. The second condition concerns your bank. It must offer a service open to this type of transaction.
Otherwise, your payment account is automatically blocked until the capping period is renewed (30 or 7 rolling days).
1. Tips to avoid bank card blocking
In a settlement of payment via a bank card, the principle is as follows: the current provisions must not reach or exceed the imposed limit. Otherwise, the visa payment card will be blocked. For example, the imposed ceiling is €2,000. By the additions of the expenses of all the purchases must be limited to an amount of 1999€. If all billings reach the limits, the account cannot be settled. Your disbursement request will be refused. What to do then? We have two options.
The first is to avoid reaching the imposed restriction. Thus, to help you, I advise you to activate the alert in case the ceiling is about to be reached. At that time, you must stop disbursing with your payment card. It is best to wait for the period when the credit card cap is reset to 0.
The second option is to change the set limit. To do this, I recommend that you contact your advisor. If it is a one-time expense due to travel or an exceptional situation, it is best to opt for a temporary change. But it sometimes happens that the need becomes more and more important. Which means that the ceiling can no longer support it. There is therefore no solution other than to opt for a definitive modification.
2. What to do in case of blocked account
If you are unable to prevent your account from being blocked. There are only two solutions: either you contact your adviser directly and ask him to increase the agreed ceiling, or you wait until the renewal period of your expense meter.
Can we modify or increase the credit card payment limit? The answer is yes. But how ? Changing a limit set for disbursing a purchase can be changed at any time. You can plan two types of modifications: a temporary change (following an exceptional situation) and a permanent development (a long-term change).
Can you do the payment cap conversion yourself? If it’s a temporary change, you can do it yourself. The process is quite simplified. It can therefore be envisaged in customer spaces. On the other hand, for a temporary arrangement, it is preferable to contact your adviser. Sometimes we even have to make an appointment. Certainly, you are free to use your account as you see fit. However, it is necessary to provide supporting documentation in the event of a decisive renewal of the amount of disbursement of purchases.
You were able to choose a visa card to use for purchases. Now how do we know the cap of the visa card? There are different elements that can be used, but we can distinguish three: