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How do I decide what amounts to set for Payment limits?


We have four different kinds of payment limits you can set in Bankline:

When deciding what specific limit amounts to set, we recommend choosing limits that reflect your business’s outgoings and needs. For your ‘Maximum payment amount’ think about what the largest payment you’re realistically likely to make will be, add some extra for contingency, and there’s your amount. (Remember, this should cover the total of your largest Bulk list payment.)

For your ‘Daily gross payment limit’, think about what’s the largest sum of payments you’re likely to need to fully authorise over a single day (including those with a future payment date). Give yourself some extra room, and that’s your amount.

With the ‘Dual authorisation threshold’, ask yourself at what point you’d rather have two pairs of eyes on a payment before it’s fully approved, for peace of mind.

If you’re an administrator, you can always alter these limits if your business’ needs or circumstances change. They’re yours to set, and they’re there to make your life easier and help you keep your business safe.

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