# Set a transaction policy

## Transaction policy overview

Transaction policies are limits that you set that dictate exactly how, when, and where your funds move. For example, you can set the following:

* Address whitelists: specify addresses that may receive transactions from each Waymont Vault.&#x20;
* Daily limits/transaction limits: set maximum limits for daily transactions or types of transfers, etc.&#x20;
* IP address restrictions: permit transactions only if initiated from certain IP addresses.
* Time of day restrictions: limit the times of day during which transactions can be made.
* And much more, limited only by your imagination.&#x20;

Transaction policies have a preset time-lock to change, and any new transaction policy or security update must be approved via your biometrics.&#x20;

## Setting a transaction policy

To set a transaction policy, enter into a vault’s setting page and set limits like whitelists, daily limits, IP-address restrictions, etc.&#x20;

By default, each vault is enabled with address whitelists and daily limits.&#x20;

### **Address whitelists**

Select which addresses your Waymont Vault can interact with. The Waymont Policy Guardian will reject anything outside of the addresses specified.&#x20;

### **Daily limits**

Set a US-dollar denominated amount for how much your Vault may transact in a 24 hour period. This token amount is calculated by fetching the pricing pricing data from the Zerion API. Currently, daily limits do not account for DeFi positions.&#x20;

Once the daily limit is reached, the Waymont Policy Guardian rejects all additional transactions.&#x20;

Making any update to your transaction policies requires biometric approval in addition to a 48-hour waiting period to take effect. &#x20;

**Waymont Concierge is also readily available to help you add other policies like (ie. IP address restrictions) to meet your needs.**
