Payments and withdraws amounts with both physical and virtual cards is now based on calendar days instead of 30 rolling days. In other words, your available balance resets itself on the 1st day of each month.
The difference with the 30-day rolling system
Previously, the payments and withdraws limits were not based on calendar days ex : january 1st - 31st) but on the last 30 rolling days.
For instance, if your withdraw limit was 1 000€ on 30 rolling days and you withdrew 400€ on january 5th, it was necessary to wait until february 5th to get the 400€ back in your available balance. In this example, with the calendar days system, your available balance is back to 1 000€ on february 1st.
The impact on your business
We don't expect this to impact your daily operations or your finances, but as fellow planners we know how nice it feels to have all our bases covered. So here are a few tips ahead of this change.
Rest assured, there is no change to your card details, so you won't need to adjust your automatic payments or subscriptions.
On may 1st, you and your colleagues have seen their respective card monthly limit reset for the month. This means that they will be able to spend a higher amount than before on this 30 days period. For example, a colleague who spent 500€ on april 18th won't need to wait may 18th for the 500€ to be available again on his card.
Additionally, the payment limit linked to his card was reset on may 1st, which means that he has been able to spend more between april 18th and may 18th. Please note that this only applies to the month of may. If needed, you can easily change the spending limit in the card section of you Qonto profil.
Cards created in the middle of the month have a pre-defined monthly spending limit to use until the end of the month. To avoid this, we suggest you to create your cards on the 1st of each month, or change the monthly spending limit according to your spending needs.
We offer new customizable settings : a spending limit per transaction, a spending limit per day, or even depending on the day of the week. Therefore, more flexibility and control!