Transaction Limit is a basic security feature to prevent unauthorized internet banking payments. It is only a pre-authorization of payment limits .Using transaction limits feature user pre-approve the website or app for payments.
3 Steps To Create or set Merchant payment Limit
- Login to SBI net banking .Then go to Manage Vendors > Manage Merchant . Under the manage merchant click on Enable Merchant .
- Corporate User has to create the Merchant Payment Limit in “Merchant Limit > Create Merchant Limit” using any one of the accounts mapped to him/her.
- The Corporate Authorizer for that account has to authorize the Merchant Payment Limits within 7 days in “Merchant Limit > Authorize Inbox“.
The Authorizer has to be different from the user who has created the Merchant Payment Limits.
Note: The Merchant Payment Limits are Valid only for 48 hours for making payment. You can create a new limit after the old one has expired.
Now the Authorizer can go to the Merchant Site and make the payment directly.
For Government Tax Payments
Government Tax Payments can be made with or without creation of Merchant Payment Limit.
There is no need for the Administrator to add Government as a Merchant. Corporate user can create the Merchant Payment Limits and the Authorizer has to authorize.
- Merchant Pre-approved limits available for Corporate user (Authorizer) OR
- Pay without using your Merchant Pre-Approved limit by directly selecting your Debit Account.
Choose your option and make your payment.