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How to Set Up Automatic Card Payments

  • Updated

Automatic Card Payments enable continuous card spending by ensuring you always have sufficient credit limit headroom. You can customize your limit threshold and payment amount to suit your needs.

 

How to Set Up Automatic Card Payments

To set up Automatic Card Payments, click on your Business name in the upper left corner of your screen to find the Organization Settings option. Please note, only account owners are able to configure Automatic Card Payments and by default they are “Off," requiring the account owner to opt-in.

 

Once you click on Organization Settings, you will be brought to your Administration tab. Click on Security at the top of that page in grey and scroll down until you see the section for Automatic Card Payments. Toggle On “Enable automatic card payments” and the payment criteria will appear below.

 

 

Customize Your Credit Limit Threshold

First, you must customize your credit limit threshold. This percentage reflects the card balance value that triggers Rho to automatically create a payment. This allows you to continue spending as you approach your limit. The default is 95%. You can set a threshold between 1 and 99%.

  • For example, using the default 95%, if your credit limit is $100,000, once your credit balance is over $95,000, this will trigger Rho to automatically create an interim payment via an ACH Pull.

Customize Your Payment Amount

Next, customize your payment amount. This is calculated as a percentage of your total credit limit. The default is 5%. You can set a payment amount between 1 and 99%.

  • For example, using the default 5% - if your credit limit is $100,000, once your credit balance has exceeded $95,000 (per the above example), Rho will automatically make an interim payment of $5,000 via ACH Pull. This card payment of $5,000 will be immediately applied to your credit account, in order to enable continuous spending.

Select Your Payment Account Source

Finally, you must select the account from which you would like the interim payment to be automatically paid. An automatic ACH pull will occur for the preset % amount once the threshold is hit. Available accounts include:

  • Your Rho Operating Account

  • Your linked checking account at a third-party financial institution

All your linked accounts will appear in the dropdown list. For more information on transferring money from a linked account see our help article.

 

Please Note: Automatic payments are credited to your Rho Card account when received to enable uninterrupted card spending for accounts in good standing. The Rho Card payment isn't complete until after the payment settlements and the ACH reversal window has closed.

 

 

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