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 types of 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/month and maximum number of transaction in a day/month
• Cooling Period: Payee cooling period limit is a time and the amount limit set by the bank during which fund transfer is not allowed or allowed till the specified limit, to a newly added payee.
• Limit package maintenance allows the administrator to map these definitions to every transaction.

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

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 for selected limit type 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

• 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

• 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 Cancel to cancel the transaction.
  OR
  Click Back to navigate to previous screen.
• The success message of transaction submission appears.
  
  Click OK to complete the transaction.

Limits Definition - Cumulative - Create

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 Cancel to cancel the transaction.
  OR
  Click Back to navigate to previous screen.
• The success message of transaction submission appears.
  Click OK to complete the transaction.

Limits Definition - Cooling Period - Create

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 Cancel to cancel the transaction.
  OR
  Click Back to navigate to previous screen.
• The success message of transaction submission appears.
  Click OK to complete the transaction.

Note: You can click to delete a record.

Limits Definition - Delete Limit

Using this option, System Administrator can delete a limit definition created earlier. Limit definition can be deleted only if it is not in use (available as a part of any limit package).

To delete a limit:

1. 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.

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

FAQs

Can I delete transaction and/ or cumulative/ cooling period limit definitions against a transaction in limit package?

No, existing limits against a transaction cannot be deleted; it can only be edited if effective date is starting from a future date.

Can I maintain multiple definitions for each limit type?

Yes, you can maintain multiple limit definitions under each limit type.

What is a significance of defining different slab limits in case of cooling period limit type?

Payee cooling period limit is a time and the amount limit set by the bank during which fund transfer is not allowed or allowed till the specified limit, to a newly added payee. Administrator can set up 2 or more time slabs to define the payee limits.
E.g. 0 mins to 30 Mins – Amount limit – $ 0
31Min to 60 Mins – Amount limit is $ 5000.
Customer cannot transfer any amount till first 30 mins from the time payee is added. From 31 to 60 mins, customer can maximum transfer upto $ 5000 subject to sufficient transaction and cumulative limits available.

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