Funding

If you are not required to fund your direct deposits in advance, your Daily Limit is the maximum total value of outstanding settlement obligations that RBC will assume for your organization. It is the maximum value of outstanding direct deposits that RBC has delivered, will deliver, or will have delivered in advance of your funding or settling for those direct deposits. RBC Royal Bank will establish your Daily Limit.

A separate Daily Limit is established for each currency of the ACH DIRECT DEPOSITS service accounts. Daily Limits are available for the total value of your direct deposits originating through one or more ACH DIRECT DEPOSITS service accounts in the same currency, belonging to the same company.

The Daily Limit decreases as transactions are delivered on the Select Date and it increases as RBC collects funds from you in settlement of the transaction on the value date. Decreases and increases in the Daily Limit correspond to the total value of the transactions. The Daily Limit is affected by all transactions sent to the receiving financial institutions, including to receivers with account at RBC Royal Bank.

Controlling Your Daily Limit

Daily Limits cannot be exceeded. Transactions exceeding your daily limit will not be processed and will be stored under pending as “I” (“in Excess) payments. Making changes to single payments using RBC Express ACH Payment Manager can affect your Daily Limit.

Increases and Decreases to Your Daily Limit

Please contact your RBC Royal Bank Account Manager before you need to increase or decrease your Daily Limit or to obtain a Temporary Limit to avoid delayed transactions. You will be notified by email when your Daily Limit changes.

The bank’s system will verify that all unprocessed transactions are within any new Daily Limits. Any transactions that exceed your Daily Limit due to an increase or decrease will be reported on the Daily Limit – Payment Details Report.