A direct debit limit is the maximum amount you can fund from your linked bank account via direct debit within a specified period, typically a 3 business day rolling window. This limit is designed to help manage risk, prevent fraud, and ensure compliance with regulatory requirements. For USFOREX and CAFOREX clients, the direct debit limit is set at the company level, meaning all accounts under your company share a single limit.

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.

NOTE: The following applies to North American customers:

• A three-day hold for new customers or anyone without an existing direct debit account linked will now be implemented for funding via Direct Debit.

• Funds will be debited from the bank immediately, but won't appear in the Global Business Account until 3 business days later.

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?