A limit on how much customers can pay by card through your customer portal. It only affects card payments that customers make themselves in the portal.
How to set it up
Contact support@kolleno.com with:
Your company name
The maximum amount you want to allow
If your company has a currency set in Kolleno, give the amount in that currency. See How the limit works with different currencies below.
What happens
Once the limit is in place, the Card option is hidden when the total of the invoices a customer selects reaches the maximum amount. Customers can still pay by any other method you have enabled, such as bank transfer.
Your company currency is USD and your card limit is 25,000:
USD invoices: card is available up to USD 25,000.
GBP invoices: the limit is converted, to roughly GBP 18,600.
JPY invoices: the limit is converted, to roughly JPY 3,750,000.
These figures are only an illustration. The converted limit follows the exchange rate, so it moves a little each day.
When an exchange rate isn't available
If Kolleno has no exchange rate between your company currency and an invoice currency, it cannot tell whether a payment is within the limit. Card payments in that currency are switched off until a rate is available, and our team is alerted automatically. If the customer tries to pay by card anyway, they see:
Card payments in [currency] are unavailable right now. Please use another payment method.
Different limits for different customers
A limit can also be set on a customer portfolio. A portfolio limit replaces the company limit for the customers in that portfolio, and is read in your company currency too.
Portfolio has no limit set: its customers use the company limit.
Customer is in several portfolios with limits: the lowest one applies.
Portfolio limit is 0: its customers have no card limit, unless another of their portfolios sets one.
How the limit works with different currencies
The limit is a single amount. How it applies to invoices in other currencies depends on whether your company has a currency set in Kolleno.
Your company has a currency set
The limit is read in your company currency. When a customer pays invoices in another currency, Kolleno converts the limit into that currency using the daily exchange rate and compares the payment against the converted amount.
For example, with a company currency of GBP and a limit of £10,000, a customer paying USD invoices can pay by card up to the USD equivalent of £10,000 at that day's exchange rate. Because exchange rates move, the converted limit in other currencies can change slightly from one day to the next.
Your company has no currency set
The limit applies as the same figure in every currency, with no conversion. For example, a limit of 10,000 allows card payments below 10,000 GBP, 10,000 USD or 10,000 EUR.
Frequently asked questions
Is there any equivalent limit for automatic payments?
Not on the amount, but you can cap how many invoices are automatically charged per customer in a single auto-charge run. That is a separate setting, covered in Limit number of invoices per auto-charge run.