Product roundup: October 2024

Reap Card

Posted by

Anushka

Oct 31, 2024

This month, we've focused on making your Reap experience smoother, more organised, and most importantly, more secure. Here's how:

Organise your finances with easier receipt management

We've made it easier to manage your receipts directly from the Reap mobile app.
Now, you can directly add notes to your Reap mobile app transactions for better organisation.

Need to declutter? Simply delete unnecessary receipts to keep your records clean.

We've also made the receipt upload button easier to find.

Dive deeper:
How to upload a receipt on the Reap mobile app?

Improved security with daily spending limits

Your security is our priority. We've implemented daily spending limits on all Reap Cards for added protection against unauthorised transactions.

The existing Spend Control feature will continue to function as before; however, the daily ceiling will take precedence in case of any conflicts.

Default limit: Spend up to $50,000 USD or $390,000 HKD per day per card.
Need More? Admins can request higher limits for any card through the Reap dashboard or mobile app:
- Up to $100,000 USD or $780,000 HKD: Automatic approval valid for 3 days.
- Over $100,000 USD or $780,000 HKD: Requires manual approval from Reap (1-2 day turnaround).
Daily reset: Limits are reset every day at 7 PM HKT (11 AM UTC).

Note: The daily spending limit does not apply to Reap Pay transactions.

Dive deeper:
How can I increase my Reap Card's daily spending limit?

Pro tip: Get your Reap Card collateral instantly reconciled

Just include your unique reference ID (starting with "DEP-" or "IBM-") with your transfer, and the system will automatically match it to your payment, just like it does for repayments, as soon as we receive the funds.

This means you can start spending on your Reap Card sooner!

Note: Ensure the sending account matches your entity name in Reap.

Dive deeper:
How to increase credit limit via fiat collateral for Reap Card

We're committed to providing you with the best possible payment experience. Let us know if you have any questions or feedback.