What is a Net Spend Limit?
A net spend limit tracks the total amount youāve deposited minus any money youāve withdrawn. You can set this yourself to help you manage how much you actually spend over time.
Previously called Net Deposit Limit: This limit was renamed to Net Spend Limit. If you've seen it referred to as Net Deposit Limit before, it's exactly the same thing.
This limit is flexible:
You can decrease (make less restrictive) it at any time and the change is immediate
āYou can increase (make it more restrictive) it, but thereās a 24-hour confirmation delay before the change takes effect
How It Works
Example:
You deposit Ā£200 on July 1st and Ā£300 on July 2nd, bringing your total deposits to Ā£500. You then withdraw Ā£500 on July 5th, resetting your net spend to Ā£0.
Because your net spend is within your Ā£500/month limit, you can still deposit up to Ā£500 again.
If you then deposit another Ā£500 on July 6th and lose it, your net spend is now Ā£500 again - meaning you canāt deposit more unless you withdraw additional funds or the monthly limit resets.