Freeze Card Rules: flexible expense management for any business

As your business grows with Loop, you will create multiple Loop cards to maintain visibility of your spending and controlling the spend of each of your cards will become crucial. You now have access to a new tool to view and manage individual card spending with our latest feature release: Freeze Card Rules.

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What are Freeze Card Rules?

Freeze Card Rules is a feature designed to help you monitor and manage your card spending effortlessly. This feature allows you to set rules so you can have cards frozen based on flexible controls, ensuring that you stay within your budget. Once a card exceeds a rule you set, it is automatically frozen, preventing any further transactions until the card is unfrozen. 

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Here’s how is works:

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View Freeze Card Rules - Select the card you would like to create a new freeze rule for on your Cards page; click the card and navigate to the new Freeze Card Rules section

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Set an Auto-Freeze Rule: 

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Set rules so you can have cards frozen based on customizable policies. For example:

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Run a Monthly Ads Campaign

Create a card freeze rule based on your monthly ads spend. Set the freeze after amount based on your budget (eg. $500), and when the card exceeds that amount it will be automatically frozen. On the 1st of the next month the card will be unfrozen and the monthly spending amount will reset!

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Set a Budget for a One-Time Event

Running a team event or working with a contractor? Set a card freeze rule that nevers resets. Set the freeze amount based on the event budget (eg. $5000), and when the card exceeds that amount it will be automatically frozen. Set the rule to never reset and the card will remain frozen until you decide to manually unfreeze.

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Spend Globally: The freeze after amount is an absolute value, treating all spending—whether in CAD, USD, EUR, or GBP—equally towards the freeze after amount.

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Remove a Rule: To remove a freeze card rule, set the Auto-Freeze After value to $0.00 and save the rule.

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Unfreeze on Demand: If you are an account Admin you can unfreeze a card by selecting Unfreeze in the card details. 

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Note: unfreezing a card does not reset the spending amount; you will need set the Auto-Freeze After amount to $0.00 or increase the amount so the card is not re-frozen on after the next transaction.

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‍Clear Notifications: If a card is frozen due to exceeding the set Auto-Freeze After amount, you will receive an email notification with the details of the specific card affected.

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Grant your team autonomy with accountability using Loop's suite of expense management features. Learn more here.

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