9940
Payment exceeds settlement transaction limit
REJLimits
Community Reference: This is an unofficial resource compiled from public banking documentation. Severity and behavior may vary by bank and payment provider. View sources.
The payment amount exceeds the settlement transaction limit set by FPS or the participating banks. The standard FPS limit is generally £1 million per transaction.
Common Causes
- •Payment exceeds £1 million FPS limit
- •Bank has set lower transaction limits
- •Account-specific limits applied
- •Time-based limits exceeded
What to Tell the Customer
“This payment exceeds the maximum amount allowed for Faster Payments. Please use CHAPS for large value payments.”
How to Fix
- 1Check the FPS transaction limit (typically £1m)
- 2Verify your bank's specific limits
- 3Use CHAPS for payments over the limit
- 4Split into multiple smaller payments if appropriate