What is an account limit?
For individual, eligible business accounts, account limits affect how much can be transferred out of the account daily.
Account limits can be any amount that is a multiple of $1,000.
The account limit is independent of your daily limit. Transactions processed from the business account with an account limit will not affect your daily limit.
Account owners can set up or maintain account limits to eligible business accounts.
Applying an account limit to a specific account allows you to process larger transactions from a single account, whilst not exposing all your business and personal accounts to a large daily limit, increasing your risk.
Unlike your daily limit, account limits are used when a customer performs any form of transaction out of the account the limit is applied to. This includes transfers to other accounts linked to your Internet Banking.