Adam & Sandra are owners of a business account that can perform debit transaction. Below are some examples of transaction using limit types:
Example 1: Account 1 is needing a BPAY payment of $40,000 processed.
Sandra cannot process this payment because she has a Personal limit of $20,000 in place. She would only be able to make a payment of up to $20,000.00 in one day.
Adam would need to make this payment as he does not have a personal limit restricting how much he can transfer. He does have a daily limit of only $20,000, however, as account limits are not affected by daily limits, he would still be able to process the payment.
Example 2: Account 2 is needing a business payment totaling $25,000 and a BPAY of $10,000 processed on the same day.
Sandra would be able to process both payments as she does not have a Personal limit applied to the account, meaning she can access the full $75,000.00 Account limit.
Adam would be able to process either of the 2 transactions, but not both, and would need to rely on Sandra processing the remaining transaction.
Example 3: Account 1 needs to have $100,000 transferred to account 2.Adam would be able to process this transaction without any issues.
However, if Sandra were to process this, it would involve five separate transactions over as many days. This is due to having a $20,000 personal limit, despite the transfer being between two accounts she can operate on.
Adam & Sandra are owners of a business account that can perform debit transaction. Below are some examples of transaction using limit types:
Example 1: Account 1 is needing a BPAY payment of $40,000 processed.
Sandra cannot process this payment because she has a Personal limit of $20,000 in place. She would only be able to make a payment of up to $20,000.00 in one day.
Adam would need to make this payment as he does not have a personal limit restricting how much he can transfer. He does have a daily limit of only $20,000, however, as account limits are not affected by daily limits, he would still be able to process the payment.
Example 2: Account 2 is needing a business payment totaling $25,000 and a BPAY of $10,000 processed on the same day.
Sandra would be able to process both payments as she does not have a Personal limit applied to the account, meaning she can access the full $75,000.00 Account limit.
Adam would be able to process either of the 2 transactions, but not both, and would need to rely on Sandra processing the remaining transaction.
Example 3: Account 1 needs to have $100,000 transferred to account 2.Adam would be able to process this transaction without any issues.
However, if Sandra were to process this, it would involve five separate transactions over as many days. This is due to having a $20,000 personal limit, despite the transfer being between two accounts she can operate on.
