As part of our ACH reward program, Qualified Spend is defined as any Visa Signature debit card transaction that has settled in the previous month and has only received the base 0.5% category reward. Please note that debit card transactions that have received a category boost do not contribute to this total.
Additionally, Bitcoin purchases, including all automations, as well as gift card transactions made using your Fold debit card, are also included in the calculation of your Qualified Spend total.
It is important to remember that Fold utilizes the settlement date to determine the month in which a debit card transaction occurs. Merchants have a period of up to 9 days to finalize a payment and withdraw the funds. Consequently, transactions made at the end of the month, particularly during the last day or two, may not settle until the following month and will therefore be recorded in that month's Qualified Spend.
Lastly, please be aware that all banks operate on Coordinated Universal Time, or UTC, which may be several hours ahead of your local time. Since Fold obtains all transaction data from our banking partner, any payments made during the final hours of the month are unlikely to be counted towards that month's qualified spend, as it would already be past 00:00 UTC for the bank. These will be added to the following month's total.
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