What is the maximum transaction limit for a purchase card?

The maximum transaction limit for a purchase card typically falls within a range of $2,500 to $25,000, which depends on the specific agency's policies and guidelines. This range acknowledges that each agency may have different operational requirements and financial regulations that dictate the appropriate purchase limits for their cardholders.

Having set limits allows agencies to maintain fiscal control and accountability while facilitating the procurement process within defined boundaries. It provides flexibility to accommodate various purchasing needs while ensuring that transactions remain manageable and within oversight frameworks.

This structure helps mitigate risks associated with fraudulent activities and overspending, as each agency can tailor its limits according to its budgetary constraints and compliance requirements.