Limit Definition

Limits are defined by the bank to set up amount and duration based restrictions on the transactions that can be carried out by the user.

As part of limits definition maintenance, following limits can be defined:

Transaction: It is the initiation limit with minimum and maximum amount defined typically for a user with role ‘Maker’
Cumulative: It is the collective transaction amount limit for all the transactions that can be performed during a day and maximum number of transaction in a day
Cooling Period: It is the time set by the bank during which fund transfer is not allowed to a newly added payee

Pre-Requisites

Transaction access is provided to System Administrator.
Approval rule set up for System Administrator to perform the actions.

Workflow

Features supported in application

Using this option system administrator can perform the following actions:

Search/ View Limits
Create Limit
Delete Limits

You are here How to reach here:

Administration Dashboard > Limit > Limits Definition

Limit Definition - View

Using this option, administrator can search for particular limit based on different search parameters. The search results displays a limit list based on different search filters selected.

If the search parameters are not specified, records of all the limits maintained in the application are displayed.

To search and view limits:

In the Limits Definition screen, enter the search parameters and click Search. The Limits Definition screen with search results appears based on the searched criteria.
OR
Click Clear to reset the search parameters.
OR
Click Cancel to cancel the search process.

Limits Definition - Search

Field Description

Field Name	Description
Limit Code	Name of the limit with unique identifier.
Limit Description	Description of the limit.
Limit Type	The limit type of limit. The limit type are: Transaction – It is the initiation limit with minimum and maximum amount Cumulative – It is a duration based limit with maximum amount and number of transactions for a day Cooling Period – It is a time period defined by the bank within which funds cannot be transferred to newly added payee
Search Results
Limit Code	Name of the limit with unique identifier.
Limit Description	Description of the limit.
Limit Type	The limit type of limit. The limit type are: Transaction – It is the initiation limit with minimum and maximum amount Cumulative – It is a duration based limit with max amount and number of transactions for a day Cooling Period – It is a time period defined by the bank within which funds cannot be transferred to newly added payee

Click the Limit Code of the record to view the details. The Limits Management-View screen appears.

Limits Definition - View

Click Delete to delete the limit.
OR
Click Back to navigate to the previous screen.
OR
Click Cancel to cancel the transaction and navigate back to dashboard.

Limits Definition - Create

Using this option, System AdministratorAdministrator is a set of individuals that administer the applicant/Affiliate entity. For example, Accountants, Authorized Signatories for organizations, Power of Attorney for individuals. can create a limit as required.

To create a transaction limit:

In the Limits Definition screen, click Create. The Limits Definition - Create screen with Transaction tab appears.

Limits Definition - Transaction - Create

Field Description

Field Name	Description
Limit Type	The type of limit. The limit type for selection are: Transaction – It is the initiation limit with minimum and maximum amount Cumulative – It is a duration based limit with maximum amount and number of transactions for a day Cooling Period – It is a time period defined by the bank within which funds cannot be transferred to newly added payee
Limit Code	The name of the limit with unique identifier.
Limit Description	Description of the limit.
Currency	The currency to be set for the limit.
Minimum Amount	The minimum amount for a transaction in selected currency.
Maximum Amount	The maximum amount for a transaction in selected currency.

In the Transaction tab screen, enter the code in the Limit Code field.
In the Limit Description field, enter the description of the limit.
From the Currency field, select the appropriate currency for the limits.
In the Minimum Amount and Minimum Amount field, enter the minimum and maximum amount for a transaction in local currency.
Click Save to save the created limit.

OR

Click Back to navigate to previous screen.

OR

Click Cancel to cancel the transaction and navigate back to dashboard.
The Review screen appears. Verify the details, and click Confirm.

OR

Click Edit to modify the details.

The user will be navigated back to the create screen.

OR

Click Cancel to cancel the transaction.
The success message of transaction submission appears.

Click OK to complete the transaction.

Limits Definition - Cumulative - Create

Field Description

Field Name	Description
Limit Type	The type of limit. The limit type for selection are: Transaction – It is the initiation limit with minimum and maximum amount Cumulative – It is a duration based limit with maximum amount and number of transactions for a day Cooling Period – It is a time period defined by the bank within which funds cannot be transferred to newly added payee
Limit Code	The name of the limit with unique identifier.
Limit Description	Description of the limit.
Frequency	The specific duration for which the limits can be utilized and available. The options are: Daily Monthly
Currency	The currency to be set for the limit.
Cumulative Transaction Amount	The collective amount in selected currency for transactions that can be performed in a day.
Maximum Transactions	The maximum number of transactions that can be performed per day.

To create a cumulative limit:

Click the Cumulative tab. The Limits Definition - Create screen with Cumulative tab appears.
Enter the relevant information in Limit Code and Limit Description field.
From the Frequency field, select the appropriate duration for the limits.
From the Currency field, select the appropriate currency for the limits.
In the Cumulative Transaction Amount field, enter the collective amount of transaction in local currency.
In the Maximum Transactions field, enter the value for maximum number of transactions.
Click Save to save the created limit.
OR
Click Back to navigate to previous screen.
OR
Click Cancel to cancel the transaction and navigate back to dashboard.
The Review screen appears. Verify the details, and click Confirm.
OR
Click Edit to modify the details.
The user will be navigated back to the create screen.
OR
Click Cancel to cancel the transaction.
The success message of transaction submission appears.
Click OK to complete the transaction.

Limits Definition - Cooling Period - Create

Field Description

Field Name	Description
Limit Type	The type of limit. The limit type for selection are: Transaction – It is the initiation limit with minimum and maximum amount Cumulative – It is a duration based limit with maximum amount and number of transactions for a day Cooling Period – It is a time period defined by the bank within which funds cannot be transferred to newly added payee
Limit Code	The name of the limit with unique identifier.
Limit Description	Description of the limit.
Currency	The currency to be set for the limit.
From Time	The cooling period start time. It can be in days and/or hours and/or minutes For example a new payee will be 'active' after a cooling period of 0 days & 0 hours & 30 minutes
To Time	The cooling period end time. It can be in days and/or hours and/or minutes. For example a new payee will be 'active' after a cooling period of 0 days & 0 hours & 30 minutes.
Cumulative Transaction Amount	The collective transaction amount in selected currency for a defined cooling period.

To set up multiple amount and time limit slabs:

Click the Cooling Period tab. The Limits Definition - Create screen with Cooling Period tab appears.
Enter the relevant information in Limit Code and Limit Description field.
From the Currency field, select the appropriate currency for the limits.
From the From Time and To Time field, select the appropriate day, hours and minutes.
In the Cumulative Transaction Amount field, enter the collective amount that is applicable for the defined cooling period.
Click Add Time Period if you want to create more than one amount and time limit slabs.
Click Save to save the created limit.
OR
Click Back to navigate to previous screen.
OR
Click Cancel to cancel the transaction and navigate back to dashboard.
The Review screen appears. Verify the details, and click Confirm.
OR
Click Edit to modify the details.
The user will be navigated back to the create screen.
OR
Click Cancel to cancel the transaction.
The success message of transaction submission appears.
Click OK to complete the transaction.

Note: You can click Delete to delete a record.

Limits Definition - Delete Limit

Using this option, System Administrator can update a created limit. The limit update allows only deleting the limit; all the other fields are non-editable.

To delete a limit:

In the Limits Definition screen, enter the search parameters and click Search. The Limits Definition screen with search results appears based on the searched criteria.
OR
Click Clear to reset the search parameters.
OR
Click Cancel to cancel the search process.

Click the Limit Code of the record for which you want to view the details. The Limits Definition -View screen appears.

Click Delete. The Delete Warning message appears.
OR
Click Back to navigate to the previous screen.
OR
Click Cancel to cancel the transaction and navigate back to dashboard.

Click Yes to confirm the deletion.
OR
Click No to cancel the deletion process.
The success message of transaction submission appears.
Click OK to complete the transaction.

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