The NALA transaction limits are set for various time periods, such as 1 day, 30 days and 365 days. They reset based on the date of each transaction, not at the start of each day, month or year. This is called a "rolling basis" reset.
The Daily limit resets a day after the transaction
The Monthly limit resets 30 days after the transaction
The Annual limit resets 365 days after the transaction
Here's an example of how it works:
If the daily limit is set at £5,000, you can spend up to £5,000 within 24 hours. This can be spent in one go or in multiple small transactions, as long as it doesn't exceed £5,000. This limit will be reset back to the original amount of £5,000 after 24 hours from the time of your latest transaction.
Let's say you have a monthly transaction limit of £100,000.
On April 10th, you made a transaction of £20,000, which means you now have £80,000 remaining of your monthly limit.
On April 15th, you made another transaction of £15,000, which means you now have £65,000 remaining of your monthly limit.
Instead of resetting your monthly limit on May 1st (the beginning of the next month), the limits will start to reset on May 10th, 30 days after the first transaction.
On May 10th, the £20,000 worth of the limit will be reset, and
On May 15th, the £15,000 worth of the limit will be reset, bringing your monthly limit back to £100,000.
Let's say you have an annual transaction limit of £400,000.
You start transacting on April 10th, 2023.
You reach or fully use up your annual limit of £400,000.
Your annual limit will not reset on January 1st, 2024 but instead, it will start to reset on April 10th, 2024 one year after your first transaction.
Note; These examples are for illustrative purposes only, and actual limits may vary.
If you have any other questions about NALA transaction limits, feel free to check out these related articles;