For North American clients, a direct debit limit is the maximum amount you can fund from your linked bank account via direct debit over a rolling 3 business day window. This limit is designed to help manage risk, prevent fraud, and ensure compliance with regulatory requirements. The direct debit limit is set at the company level, meaning all accounts under your company share a single limit. Weekends and public holidays in the country of the account debited are non-business days.

Why is this important:

Direct debit limits are important because they:

• Help protect both clients and OFX from potential fraud or unauthorised transactions.

• Ensure compliance with financial regulations and risk management policies.

• Make it easier for clients to monitor and manage their funding activity across all accounts under their company.

• By default, all new customers will be offered direct debit limits with a 3-day hold. Funds will appear in the client’s Global Business Account 3 business days after they are debited from the external bank.

How does the rolling 3 business day window work?

Before a direct debit can be created, OFX checks if there is adequate limit to create it. These checks take into account direct debits that are due to be settled 2 days before and 2 days after the release date, this is to ensure that there is adequate limit on the day of settlement and that future scheduled direct debits are not affected.

To illustrate the rolling 3 day window, here are a few scenarios where a client has a $100,000 direct debit limit.

Related FAQ Articles:

• Why am I unable to fund my account beyond a certain amount?

• How do I check when the direct debit will be deposited?

• Can I update the amount or date for my direct debit?