Daily Limit

Category: Daily Limit

Good to Know – Borrower’s Online Limit after Disabling 2FA: Whenever we disable the 2FA (upon borrower’s request) for a profile we need to make sure that the limits are back to its original amounts.

Good to Know – Redraw, Bpay and Pay Anyone Limits: The default settings for 2FA enabled will be the same as for the non-2FA enabled ($10,000 for both redraw and Bpay while $2,000 for pay anyone). Borrower’s daily limits are shared between all accounts (same loan or different loan facilities)

Ex. If Mr Pay Anyone the limit is $25,000.00 and he lodged $20,000 in one of his offset accounts.

Mr. only has $5,000 left to request for his other accounts. If there are multiple parties to the loan, everyone has their own limits and will not affect the limit of other borrowers.

The borrowers who are 2FA enabled will be able to set their limits up to the new maximums in Internet Banking. In relation to Mobile Banking – these are still awaiting approval from Google Play & Apple.

Once they are approved by those entities the mobile banking applications will be updated with the new limits. This means that until the mobile banking updates are approved the borrowers will only see the old limits in their online access.

If they wish to self-service and change limits, they will need to access the Internet Banking website