How to Change Transfer Limit on AmBank Online

Why Would You Want to Change Your Transfer Limit?

Let's face it – there will come a time when you either need to transfer more money than usual or want to limit transfers to ensure your account's security. For example, you may be buying a new car, investing in property, or making a major purchase that requires a substantial bank transfer. On the other hand, you may also wish to reduce the transfer limit if you feel your account could be vulnerable to unauthorized transactions.

AmBank Online offers flexibility by allowing customers to adjust their transfer limits within their personal internet banking profile. However, there are limits to how high you can set it, and each transaction type (local, foreign, etc.) may have its cap. Understanding how to manage this feature can save you time, and stress, and make your online banking experience more efficient.

The Step-by-Step Process to Change Transfer Limit on AmBank Online

Let’s dive into the step-by-step process of how to change your transfer limit:

1. Log into AmBank Online

• Visit the AmBank website or use the AmOnline mobile app.
• Enter your login credentials (username and password). If you've set up biometric login, you can use fingerprint or facial recognition if enabled.

2. Navigate to the "Settings" Section

• Once logged in, find the "Settings" tab in your profile or the main dashboard.
• Select "Account Management" or directly search for transfer settings.

3. Select "Transfer Limit"

• Under the Account Management menu, look for the Transfer Limit option. Here, you’ll see your current limits for various types of transfers (e.g., local transfer, international transfer, GIRO, etc.).

4. Choose the Type of Transfer

• AmBank allows you to adjust limits based on the type of transfer. Choose the type for which you want to change the limit (e.g., funds transfer to own account, third-party transfer, or overseas transfer).

5. Enter the New Transfer Limit

• You can now enter the new transfer limit. Make sure it complies with the bank’s maximum limit policies (usually displayed next to the input fields). For security reasons, setting too high a transfer limit might increase risk exposure, so choose wisely.

6. Verify Your Changes

• After entering the desired limit, you’ll need to verify the changes through multi-factor authentication. This can be via a one-time password (OTP) sent to your registered mobile number or email.

7. Review and Confirm

• Review your new transfer limit and hit "Confirm" to finalize the change.

Common Issues When Changing Transfer Limits

1. OTP Issues: One of the most common issues users face is not receiving the OTP. If you experience this, ensure that your mobile number or email address linked to your AmBank account is up-to-date. If necessary, visit a branch or call customer service to rectify the situation.

2. Exceeded Maximum Limit: If you try to set a transfer limit higher than what AmBank allows, you'll receive an error message. The bank imposes a ceiling on certain transactions for security reasons, especially for international transfers. Always check the maximum allowable limits before submitting.

3. Connection Problems: Ensure you have a stable internet connection during the process. If your session times out, you may have to restart the process. Always save changes immediately to avoid repeating steps.

Important Considerations When Changing Your Transfer Limit

Security First

Increasing your transfer limit can be convenient, but it also increases the risk of fraud or unauthorized transactions. Here are a few security measures you should consider:

• Use Strong Passwords: Make sure your AmBank Online password is complex and difficult to guess.
• Enable Notifications: Activate real-time alerts for every transaction, so you are immediately informed if an unexpected transfer takes place.
• Set Realistic Limits: Consider setting a transfer limit that suits your regular needs rather than maxing it out. You can always temporarily raise it for a specific transaction.

Lowering the Transfer Limit

On the flip side, lowering your transfer limit is an excellent idea for people who don’t need to transfer large sums frequently. This can prevent substantial losses in the event of a security breach.

What If You Need to Change the Limit Urgently?

While most changes to transfer limits are applied instantly, there might be cases where you need immediate changes and the online process isn't fast enough, especially for urgent transactions. In such scenarios, contacting AmBank customer support via phone or visiting the nearest branch can expedite the process. Some users have reported that branch visits result in immediate changes without the delay sometimes experienced with the online system.

Data and Insights on Transfer Limits

AmBank's transfer limits are aligned with regulatory standards and customer preferences. Based on customer feedback surveys, over 70% of users prefer setting lower limits for day-to-day transactions, while 30% opt for high limits due to business needs or large asset management. Below is a comparison table highlighting the daily transfer limits based on customer profiles:

Customer Support: Your Safety Net

If you encounter persistent issues or face technical difficulties, AmBank's 24/7 customer support is there to assist. They offer support through various channels:

• Phone Support: For immediate assistance, you can contact AmBank’s helpline.
• Email: Send detailed queries and expect responses within 24 hours.
• Live Chat: Available through the website or app, this offers instant solutions to common issues.

Final Thoughts on Changing Transfer Limit on AmBank Online

Changing your transfer limit on AmBank Online is a straightforward process that grants you full control over your account's transaction capabilities. Whether you need to raise the limit for significant transactions or lower it for peace of mind, AmBank offers flexibility through its user-friendly interface. By following the steps outlined above and considering the security tips, you can manage your finances with ease and confidence.

The process is swift, secure, and customizable, helping you balance convenience and safety.