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Standard Bank EAP stands for ‘Electronic Account Payment’. Your EAP limit represents the total value of all electronic payments you can make in a month – from the App, Internet Banking, or from ATMs, etc. Note that EAP limits only apply to payments made to other parties (ie not inter-account transfers).
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How to update EAP Limits on Standard Bank app
- Select the menu icon in the top left or swipe the screen from left to right
- Select ‘Manage Cards’
- Select the highlighted card (this is the card you used to create the dashboard)
- Select ‘Monthly EAP Limit’
- Select the current EAP limit amount, and change this to the new limit that you’d like (up to a maximum of R500 000)
- Select ‘Next’
- You will receive a one-time password (OTP) delivered to your cellphone or email
- Enter this OTP
- A screen will confirm your limit is updated and you will receive an SMS to confirm your limit has been changed
- Your new limit is applied permanently (ie for this month, and all months after that)
How to update limits on Capitec Bank
How to update limits on Standard Bank