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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.
POS limit is the maximum amount you can spend using your debit or credit card in a single day at a merchant's terminal.
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.
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 -
Log in to IDFC FIRST Bank online banking portal to check and adjust your POS limit as needed.
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.
Visit your nearest IDFC FIRST Bank branch for in-person support to review and adjust your POS limit.
To check and adjust your POS limit, follow these steps -
To effectively use and manage POS limits for better financial planning, consider the following tips -
Adjust your POS limit to match your spending habits, keeping it within a reasonable range to avoid overspending.
Frequently check your POS transactions to track expenses and identify any unusual activity.
If possible, distribute your spending across multiple accounts or cards to effectively manage cash flow and budgeting.
IDFC FIRST Bank offers online banking and a mobile app to easily monitor and adjust your POS limits as needed.
Keep a slightly higher POS limit for emergencies, but ensure it's not too high to prevent potential misuse.
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!