Transaction Limits

Introduction

The daily, weekly, monthly and yearly limits for   amount of transactions and total number of transactions can be set for the limit schemes and effective transaction type combination.  Limit for different frequencies depending on the channel through which the customer is transacting can also be defined.

Using this option, the Administrator can perform the following functions:

• View the existing transaction mappings. The display list consists of effective transaction type, scheme description, and the channel type mapped to the effective transaction type.

• Create new transaction limits.

• View or update the existing transaction limits.

• Delete or multiple delete the existing transaction limits.

Note:

Before creating a new mapping record, the Administrator should create codes for Limits schemes as common codes of code type, 'LSH' and the Effective transaction type as common codes of code type, 'EFT'.

• Transaction limits are defined with a combination of effective transaction type and limit scheme.  The effective transaction type will have the linked transactions.  The Limit scheme will be linked at the user level.  Based on the combination of the effective transaction type and the limit scheme, the transaction limits defined will be applicable to those transactions for the user.

• The Transaction limits could be a specific limit (i.e. defined specifically for a retail or a user) or could be a default limit (applicable to all users).

• The administrator  can define the transaction limits for a unique combination of effective transaction types and limit scheme

• The limits could be defined for four frequencies:

• • Daily

  • Weekly

  • Monthly

  • Yearly

• The Limits are always maintained in the home currency. For checking of the limits, where the transaction amount is not in home currency, an exchange rate between the transaction currency and home currency is applied, to get the transaction amount in home currency. For this conversion, mid exchange rate is considered and no spreads are applied.

• The validation and consumption of limits are applied upfront for the current as well as for scheduled transactions and recurring transactions.

• For recurring transactions, the validation and consumption are upfront where the number of recurring instances are less than 'N' where 'N' is a bank level parameter.  For subsequent instances, validations are handled offline.

• A transaction is denied if no  transaction limit is  available for that transaction. .

• In case the limit check succeeds for a particular transaction, but the transaction fails due to some other reason, the consumed limits are reverted. In case of multi-currency transactions, all reversals are done at the same conversion rate as was applicable at the time of raising the request.

• The applicable transaction level limits for user  is consumed when a corporate user submits a collection transaction.

Navigation

The following is the navigation for this option:

• Click Transaction Limits in the Limits menu under Application Maintenance.

• The Transaction Limits screen is displayed.

What you can do

The table below provides a brief description of the data that should be entered on the screen and the functions you can perform:

Field

Description

Bank ID

The ID of the bank for which specific limit records are retrieved.

Limit Scheme

The limit scheme whose record is to be retrieved.

Effective Transaction Type

The effective transaction type drop-down. The type is set by the administrator using the Common Codes option.

Channel Type

The type of channel whose records are to be retreived.

Limit End Date

If records are to be retrieved on basis of limit end date the same can be specified.