7 Limits 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.
Features Supported In Application
Using this option system administrator can perform the following actions:
Navigation Path:
From System Administrator Dashboard, under
Limits widget, click Limits
Definition.
OR
From Bank Administrator Dashboard, click Toggle Menu, then click Menu and then click Limits, Under Limits , click Limits Definition.