Are you looking for information on how to increase the daily spending limit on your Nedbank credit or debit card? How can you do this via the app and through online banking? Banks impose spending limits for two main reasons. First of all, they do it to manage the flow of cash from their ATMs. If people were allowed to withdraw all their money at once, then banks would have a hard time keeping up with the demand. Secondly, banks set card limits to protect their customers. In the event that your card and PIN are stolen, it limits the amount of money that you end up losing. So, how do you increase your withdrawal and spending limit on the Nedbank app?
Increase your Nedbank card daily limit
The following is how to increase the daily limit on your Nedbank card using the app;
- Open the Nedbank Money App on your phone or tablet.
- Once logged in, click on More.
- Go to Profile limits.
- Select the limit that you wish to increase. This can be an ATM limit or a spending limit. It can also be a transfer limit.
- Use the slider to change your limit.
- Click on Updated limits.
Alternatives ways of boosting your Nedbank credit card limit
That’s how to increase the limit on your Nedbank credit or debit card. But what are the alternatives for doing it on the app? You can also increase your limit via online banking.
To do so, you need to log in. Next, click on Profile limits. Next, choose the limit that you wish to change and then set the amount. Finally, click on Update limits.
Another option for you is to visit your nearest Nedbank branch. They will be able to help you change your daily limit in there. Again, this can be for various issues, such as for ATM withdrawals and for transactions.
You can also get further help for increasing your limit by calling 0860 555 111. That’s the Nedbank Contact Centre number.
Why increase your limits?
We have already noted that spending limits on cards and accounts are meant to protect bank customers. It prevents you from losing all your money in the event that your card is lost or stolen.
A fraudster can only use money up to the daily limit. After that, you should be able to have your card blocked. Doing this protects you from further loss.
In any case, most people increase their limits because they wish to withdraw more money at ATMs. They also increase their limits because they wish to buy certain goods that cost beyond the limits.