Frequently Asked Questions (FAQs)
First Citizens Online Banking Service Enhancement: Daily Limit of TT$5,000 Applied to Payments to Custom Payees
1. What is the daily limit on payments to custom payees on the First Citizens Online Banking Service about?
2. How many transactions am I allowed to do within the daily limit?
- This can be multiple payments to one custom payee or multiple payments to multiple payees.
- This can be one payment to one payee as well.
3. What comprises the dollar value of $5,000?
It considers only movement of funds from your account to another person’s account at First Citizens.
The $5,000 does not consider the dollar value transfers between accounts in your name only at First Citizens or payments to companies external to First Citizens.
4. Are transactions on foreign accounts impacted by the daily limit of $5,000?
5. If I process payments to custom payees, how would I know how much of the $5,000 daily limit remains available to me?
6. What happens if I pay $5,000 during the course of a day?
7. Can I request an increase in the daily limit for payments to my custom payees?
8. I have processed payments to custom payees in the past for more than $5,000. What are my options?
9. I scheduled payments greater than $5,000 to custom payees before the Bank made this change. What are my options?
10. Does this daily limit apply to new transactions I wish to do, i.e. immediate or custom payments to custom payees or 3rd parties at First Citizens?
During the immediate payment process or the process to set up a scheduled payment, the daily limit amount available field will be displayed, advising you of the remaining balance available to you.