Can anyone explain to me why I have waited over two months for my “spending cap” to be verified? My account says my spending cap was approved but no usdc has been initiated.
What’s also disturbing is I was given a prompt that said I was eligible for the MetaMask Metal Card. It had me enter my banking info and more to verify my identity. I am later told by support there is no MetaMask Metal Card. So why was I told that?
Like what’s going on? My account says my verification will be done within 12 hours. I have been waiting 2 months. Like, what’s up?
Spending cap is part of the token approval that allows the connected Smart Contract to draw funds in the tokens you’ve allowed. EG: when you tap, the offchain components initiate a transfer with the SC, it then deducts that amount from your connected account.
You can use spending caps to control how much the contract is allowed to draw (IE if you set it at $100, it can withdraw $100 total, until you increase the spending cap. A common security practice is to set approvals for smaller amounts, then increase as you get close to it. Creates more friction if you use it often, as you need to sign new approval txns each time you increase. You can set it unlimited as well)
Once the spending approval txn shows as successful on chain, you should be ready to tap in stores to pay. (assuming you have enough of that token in the connected account)
As noted by Star, the physical card (Metal card) hasn’t released quite yet. Only the digital version at the moment. (which is what the KYC verification was for) Might have been the pre-registration for the Metal card?
You can manage your connected accounts, token approvals, etc from the cards site: https://card.metamask.io/
You can reveal the digital cards full details from here so it can be added to digital wallets like apple/google pay.
There’s a button to chat with Card support team at the bottom right side:
The Card support team can help with more specific questions about your account and what’s happening with verification.
We ask people not to post any personal details on public platforms, but we’re happy to help with general questions here.
