16.4.5 Transaction Limits

This topic describes the information about Transaction Limits

The bank can put restrictions on the transactions initiated by customers from the online banking channels. The bank applies different types of limits on different transactions. These limits may vary depending on the user / customer type.

The different types of limits are as follows:

  • Permitted number of transactions in a day
  • Cumulative amount of transactions in a day
  • Minimum amount for a transaction
  • Maximum amount for a transaction

The limits function enables a retail user to view the daily limits (applicable at specific transaction level and at transaction group level) assigned by the bank for a specific channel or for a group of channels. The user can edit and reduce the cumulative transaction amount limit offered by the bank for individual transactions. The user can also reduce the maximum transaction count limit offered by the bank for individual transactions.

Further modification of limits will be enabled up to the limits offered by the bank for each transaction. Updated limits will be applicable from the next calendar day.

Pre-requisites

The user must have an active Current and Savings Account relationship with Bank.

Features supported in the Application

  • View Transaction Limits: Daily and monthly
  • Reduce cumulative daily/monthly amount limit for each transaction
  • Reduce cumulative daily/monthly count limit for each transaction

Navigation Path: Perform anyone of the following navigation to access My Limits.

From the Dashboard, click Toggle menu, and then click Menu. From Menu, click Account Settings, and then click My Limits.

Parent topic: Preferences