How To Add Spending Limit?

Created by Muskan Bhandari, Modified on Wed, 3 Jan at 11:27 AM by Muskan Bhandari

Defining spending limits is a crucial aspect of policy management, ensuring that you have control over the amount that can be sent to whitelisted addresses within a specified time frame.

To set these spending limits, follow these steps:

1️⃣ Access your settings and navigate to the "Policy Management" section.

2️⃣ Click on "Add Policy Rules," and a pop-up window for policy creation will appear.

3️⃣ Within the policy creation window, click on "Spending Limit."

4️⃣ Select the specific wallet for which you want to configure the spending limit.

5️⃣ Once you've selected the wallet, the spending limit configuration options will become visible.

6️⃣ Here, you can enter the period for which the spending limit will apply, choosing between hours or days based on your preferences.

7️⃣ Enter the amount in USD that you want to set as the cumulative total of tokens or coins that can be sent from the selected wallet within the chosen time period.

8️⃣ Click on the "Next" button and proceed to approve.

? Note: If the owner has set a minimum approval requirement greater than 1, another admin will need to review and approve the policy.

By following these steps, you'll be able to establish spending limits that align with your organisations financial goals and security requirements, ensuring responsible and controlled transactions to whitelisted addresses.

This feature provides an essential layer of protection and transparency within your policy management system.