Daily Transaction ACH Limit

Daily transaction limit is the maximum limit for processing ACH and checks payments on any day set by HSBC Bank. Daily transaction limit validation eliminates the need to reprocess failed payments due to limit-exceeding failures. With this validation:

• You can only process payments that are within the daily transaction limit. The available daily limit can be viewed for processing bill payments from a pay single vendor, bulk bill payments, vendor prepayments, and money transfers.

• You can only submit payments on business days. Payment processing and money transfers cannot be initiated on weekends or bank holidays.

  Note:

  Payment cannot be created or rejected on weekends or holidays. However, they can be approved. When approved on weekends, these approved payments will be sent to HSBC on the next business day.

• You can better plan and prioritize the payments to be processed for any day based on the remaining daily limit available.

In a multi-subsidiary setup, daily ACH and credit card limits are set separately per subsidiary or approved account.

The following fields have been added for Making Money Transfers, Paying a Single Vendor, Processing Bulk Payments, and Vendor Prepayment:

• Daily Transaction Limit: It is the maximum limit for processing ACH and checks payments on any given day, set by HSBC Bank

• Daily Transaction Limit Available: It is the available limit after processing payments of the present day and the payments initiated post cutoff of the previous day.

• Payments Pending Approval: This is the total amount of payments submitted and pending approval.

Incoming and Outgoing Limit Validations

• Incoming Limit Validation: The daily limit is validated for payments initiated from pay single vendor, bulk payment processing, and add money requests.

  Incoming ACH Available Limit for incoming payments =ACH Daily Limit -Incoming Previously Submitted Payments and Approved

• Outgoing Limit Validation: The daily limit is validated during withdraw money requests.

  Outgoing ACH available limit for outgoing payments =ACH Daily Limit -Outgoing previously submitted payments (Withdraw requests +ACH payments of previous day)

Pending Approval Batches

ACH daily limit validations will take place during the submission of payments and after approving the payment. Additionally, the validation is performed when the batch is edited, transactions are removed, or the batch is approved. The ACH limit calculation considers the current day's limit for batches with current and past-dated payments.

The daily limit for the following working day will be applied to any payment that is submitted or approved after the 8 pm. ET cutoff time. If a transaction is sent after 8 pm, it will be included in the first batch of the next business day, and the daily limits for that day will be applied.

Daily Limit Exceeded

When the daily limit is exceeded, an error message will be displayed. To submit payments, you need to ensure that you stay within your remaining daily transaction limit.

In the case of paying a single vendor and processing bulk payments, when you exceed the limit, you will have to unselect some bills or change the payment date to a future date before submitting the payment.

In the case of making money transfers, when you exceed the limit, you have to initiate the transaction on the next business day.

General Notices