The Nala limits for each period work as follows;
There is a 24-hour rolling limit for daily limits.
There is a 30 day rolling limit for monthly limits.
There is a 365-day rolling limit for yearly limits
This means that it essentially resets at a specific date depending on the timelines of the transactions made.
With a daily limit of £5,000, you can send up to £5,000 within 24 hours either as a lump sum or in small amounts that add up to £5,000. This limit then resets after 24 hours such that you get a new £5,000 limit.
With a monthly limit of £10,000 if you send £5,000 on the 1st of December and £5,000 on the 25th, you’ll be able to transact again after the 30th as your limits resets back to the £10,000.
Implications of this on the 365-day limit
The 365-day limit (£30,000 personal account limit) can be reached in different ways:
Sending £5,000 daily for 6 days (within the same year)
Sending £10,000 monthly for three months (within the same year)
You should track your transactions to request an increase of set limits via the Mama Nala in-app chat to avoid inconveniences.