Explore Personal Banking
Accounts
Deposits
Loans
Wealth & Insure
Payments
Cards
What's special about us
Customer Support
Explore all Credit Cards
Premium Metal
0% Forex & Travel
Lifetime Free
10X Rewards
UPI Cards
Fuel & Utility
Showstopper
Credit Builder
More
Customer Support
Explore NRI Banking
NRI Savings Account
NRI Fixed Deposit
FOREX Solutions
Transfer to NRE
Markets & Beyond
Customer Support
Explore Startup Solutions
Explore Corporate Banking
Corporate Account
Cash Management Services
Supply Chain Finance
Corporate Lending
Treasury
NBFC Financing
Customer Support
BRAVO (Auto Sweep)
Explore Business Banking
MSME Accounts
Trade Services
MSME Loan
MSME Solutions
Debit Card
Offers
Customer Support
Explore Gift City
About Us
Investors
Careers
ESG

FOLLOW US ON :

Download Now

  • App Store
  • Google Play

Notifications

  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.

  • Activate your Credit Card within minutes and enjoy unlimited benefits

    Know More

  • One FASTag, three payments:Toll, fuel and parking

    The only FASTag with triple benefits

    Apply Now

FinFIRST Blogs

Credit Card Savings Account Personal Loan Home Loan Car Loan Education Loan Two Wheeler Loan NRI Business Banking Fixed Deposit Finance Beyond Banking MyFIRST Mobile Banking Startup Banking Investments Salary Account
Open an Account

Savings Account

Explore POS limit in debit cards for zero-fee banking and spending

Key Takeaways

  • POS limit is the maximum amount you can spend using your debit card at one merchant terminal.
  • You can adjust your POS limit based on your spending habits and needs to manage expenditures effectively.
  • Distribute your expenses across different accounts and optimise your cash flow.
19 Oct 2024 by Team FinFIRST
what is pos limit
Open an Account

Understanding the significance of your Point of Sale (POS) limit means enhancing your banking journey. By acknowledging the vital role played by your POS limit, you can empower seamless transactions and ensure streamlined financial management, making your everyday banking more efficient and hassle-free.

Read on to learn how to adjust your POS limit and fully utilise features like zero-fee banking.

READ MORE

Benefits of savings account
How should you use your savings account for maximum benefits?
impact of digital savings accounts in banking
How have digital savings accounts transformed the banking system?

What is a POS limit?

POS limit is the maximum amount you can spend using your debit or credit card in a single day at a merchant's terminal.

POS limits for IDFC FIRST Bank Savings Account
 

As an IDFC FIRST Bank Savings Account holder, your POS and withdrawal limits are designed to suit your banking habits. The Savings Account variant with ₹10,000 AMB (Average Monthly Balance) comes with a ₹4 lakh daily POS limit, and the Savings Account variant with ₹25,000 AMB comes with a ₹6 lakh daily POS limit.

Managing daily spending with POS limits
 

As an IDFC FIRST Bank Savings Account holder, you can manage your daily spending by understanding your POS limit. Here are different ways to manage your POS limit -                   

  • Online banking platform -

    • Log in to IDFC FIRST Bank online banking portal to check and adjust your POS limit as needed.

  • Mobile app -

    • Use the IDFC FIRST Bank mobile app for quick and easy access to your POS limit settings, allowing you to make changes on the go.

  • Branch visit -

    • Visit your nearest IDFC FIRST Bank branch for in-person support to review and adjust your POS limit.

Steps to adjust POS limit with IDFC FIRST Bank
 

To check and adjust your POS limit, follow these steps -

  1. Login to your net banking account
  2. Under ‘Accounts & Deposits’, go to ‘Manage Debit Card’
  3. Click on Manage to change your POS limits
  4. Click on confirm and authenticate with an OTP and verify

Managing POS limits for smart financial planning
 

To effectively use and manage POS limits for better financial planning, consider the following tips -

  • Set appropriate limits-

    • Adjust your POS limit to match your spending habits, keeping it within a reasonable range to avoid overspending.

  • Regular monitoring-

    • Frequently check your POS transactions to track expenses and identify any unusual activity.

  • Use multiple accounts-

    • If possible, distribute your spending across multiple accounts or cards to effectively manage cash flow and budgeting.

  • Leverage online tools -

    • IDFC FIRST Bank offers online banking and a mobile app to easily monitor and adjust your POS limits as needed.

  • Plan for emergencies -

    • Keep a slightly higher POS limit for emergencies, but ensure it's not too high to prevent potential misuse.

Conclusion
 

Understanding what a POS limit means is crucial for effective financial planning and secure bank transactions. By managing your POS limit in debit cards, you can control spending and prevent fraud. Regularly review and adjust your limits to align with your financial goals, ensuring security and flexibility in your daily spending.

With IDFC FIRST Bank, enjoy zero-fee banking on saving account services such as debit card issuance, ATM transactions, DD at branches, etc. Plus, get higher interest rates, monthly interest credits, and seamless account aggregation with an IDFC FIRST Bank Savings Account – apply now!

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.

Prev

What is a UTR Number and Where Can I Find It?
Next

The Evolution of Savings Bank Accounts

Related Products

Related Articles

Download IDFC FIRST Bank App

Tags

You might also be interested in:

Savings Account

Savings Account
Personal Loan

Personal Loan
Credit Card

Credit Card
Home Loan

Home Loan
Two Wheeler Loan

Two Wheeler Loan

Contents