Account Limits

Account limits are set by type of payment rail for transactional, daily and monthly limits.

The platform further splits these limits into global limits setup at the Product level and local limits that can be overridden at the account level.

For each product the bank sets hard and soft limits for each type of money movement function available for that Product. For instance, if the product had ACH, FedNow, and Wire enabled they would have 3 soft and 3 hard limits.

How are these Soft and Hard Limits used?

• Soft Limit: each Account created for this product inherits the soft limit for the Product as a default.
• Hard Limit: The hard limit allows a user to extend their transactional limit if they need to up to a maximum allowable by the bank for this type of product.

Let’s say your program had a Savings Account and a Checking Account, the setup for limits could look like:

• A customer that opens a new checking account would automatically have a $5,000.00 ACH transactional limit by default. If this user needed to extend their ACH limit, they would need to call into the bank and request a larger limit. If they wanted a $30,000.00 the CSR would be restricted, because the maximum it could be extended to is $25,000.00 for that product.

This allows for the most flexibility in how limits can be managed, with the ability to autogenerate Account limits, based on the soft transactional, daily and monthly limits for each payment rail, while providing the bank flexibility on a per account basis to extend the limit, up to a maximum allowable amount set by the banks risk appetite.