This is the limit set on each of your accounts for transfers between your account and another financial institution. This includes future and batch payments, with the default limit set at zero. (Does not include internal transfers, BPAY payment or Cheque payments).
If your limit is set a $2,001 or more, you will require SMS authentication to access iBank. If all signatories don't register for SMS authentication, then your limit will be set to $2,000. For more information on registering for SMS authentication, see 'security authentication'. For logging in information, see 'logging in for the first time'.