What are the different types of limits in FastNet Business?

FastNet Business limit types 

FastNet Business has different daily limits depending on the type of payment, account, and user access. 

• Account Limit (for all FastNet Customers)
• International Division Limit (for FastNet International Customers) 
• Receipts Limits (optional for Direct Debit / Receipts Customers)  
• User Limit (for all FastNet Customers) 

Daily Account Limits 

An Account Limit is the daily payment limit for an account used in FastNet Business. It applies across all suffixes linked to the same account number. 

The daily account limit applies to all payments, including any International Money Transfers processed from a standard NZD account. 

Funds Transfers between suffixes on the same account number are not included in the daily Account Limit. 

Review Account Limits regularly to make sure they still match your expected payment needs. Limits that are higher than needed may increase exposure to fraud and scams. 

International Division Limit  

The International Division Limit is a daily NZ dollar limit for International Money Transfers from a Foreign Currency account. A Foreign Currency Out-of-Hours Limit of NZD $100,000 applies outside business hours, on weekends, and on public holidays. 

User Limits  

A User Limit is the daily amount an administrator or user can pay from FastNet Business. It applies to ALL payment types, except Fund Transfers between suffixes on the same account number. 

An Account Limit, International Division Limit, or Receipts Limit may still stop a payment even if the user has enough available User Limit. For example, a user with a $100,000 User Limit cannot send an $80,000 payment from an account with a $50,000 Account Limit. 

Review User Limits regularly so each user’s access matches their role and payment responsibilities. 

FastNet Business checks limits when you: 

• Save a payment, when you may receive a warning message 
• Authorise and send a payment, when you may receive an error message and the payment may not be processed without support