Payment limits in Westpac Live

Westpac Live offers two customisable payment limits for added security of your business online banking.

Business Daily Limit – The maximum payment amount your business can make from Westpac Live on any day.
Daily Payment Limit – The maximum amount a User (a person who makes payments on behalf of your business) can transact on any day.

Simply put, you can: Set a Business Daily Limit for the business. For example, Business Daily Limit $450,000

Set a Daily Payment limit for each other. For example,

Daily Payment Limit $450,000
Daily Payment Limit $200,000
Daily Payment Limit $50,000

Tip

Individual Users can be assigned a Daily Payment Limit up to the value of the Business Daily Limit but collectively, are unable to spend more than the Business Daily Limit.

Payment methods which are covered by the Business Daily Limit and Daily Payment Limits include:

Pay Anyone payments
Same day (RTGS) payments
International payments
Bank Cheque requests
Restricted BPAY biller payments (BPAY billers to whom funds are released immediately)

Tip

Cleared funds must be available at least one day before the scheduled payment is due. A scheduled payment may be rejected if:

There is an insufficient available balance in the account
The payment exceeds the daily limit for the payment method
An invalid account is selected.

Managing Business and Daily Payment Limits

Managing Business and Daily Payment limits

Administrators of your Westpac Live can amend the Business Daily Limit online or on mobile. The Business Daily Limit is set at a default limit of $10,000,000 and can be increased up to $100,000,000 if required.
Administrators of your Westpac Live can amend the Daily Payment Limit only online, not on your mobile device.

To amend your limit online:

Select User administration from the Services & preferences menu
When prompted, enter your SMS or token code, then click Authorise

3. Click on Business Daily Limit to amend your limit

4. Update your Business Daily Limit if required

Tip

Administrators will need to be registered for either Westpac Protect™ SMS Code or a SecurID® token to be able to manage the Business Daily Limit or Daily Payment Limits.

How security works in Westpac Live

Our Westpac Protect™ Adaptive Authentication technology is a comprehensive real-time authentication and fraud detection platform which monitors your banking behaviour.

In addition, we protect you with our Security Guarantee and will repay any funds that are missing as a result of online fraud, providing you comply with our Online Banking Terms & Conditions. This includes keeping your access codes and passwords private and not sharing logins.

For added peace of mind, Users banking on behalf of your business will need a Westpac Protect™ SMS Code or a SecurID® token to:

Access a higher Daily Payment Limit above $5,000 (see table below)
Approve same day (RTGS) payments
Access certain areas in Westpac Live, such as User Administration

Managing security devices for Users

To assign a security device for a User:

Services & preferences > User administration > Select User

Click on drop down menu next to User and either select Assign Token or Register SMS Code

To switch security devices

Services & preferences> More features> Security device

Tip

There are two different statuses for security devices:

Active - User has completed activation and is using device
Linked - Administrator has linked the device and User but the User hasn’t completed activation – User must complete activation

Activating your security device (User)

You can activate and see the security device assigned to yourself in the Security section on your Preferences screen, accessed from the Services & preferences menu

Limits table

The following table shows the current limits that apply to a User assigned with a security device. In all instances the amount individual Users spend, where the business has multiple Users, can’t exceed the Business Daily Limit.

Security device	Limits applied to User
No device registered	An individual User can have a Daily Payment Limit up to the value of $5,000 and not require a security device to make payments.
Westpac Protect™ SMS Code	An individual User can have a Daily Payment Limit up to the value of $200,000. Each time a payment is made to a new payee, the User will be asked for an SMS code.
SecurID® token	An individual User can have a Daily Payment Limit up to the value of $100,000,000. Each time a payment is made to a new payee, the User will be asked for a token code.

Things you should know

BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.

SecurID® is a registered trademark of EMC Corporation. Read the Terms and Conditions at westpac.com.au before making a decision and consider whether the product is appropriate for you. Transaction fees may apply. Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian Credit Licence 233714.