It looks like if you block a phone number, it is blocked all the time. If, however, you restrict calling times for a number, you are merely restricting outbound calling.
For more information about Smart Limits, please click on the links below.
AT&T Smart Limits for Wireless
AT&T Smart Controls: Smart Limits
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AT&T Locker is being discontinued on August 3rd. Find out what you need to do.