Funding an Account
Funding an account refers to the process of adding funds to a specific account or a financial instrument. It may involve various methods depending on the type of account and the financial institution or service provider.
Create Payment Order
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
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Amend attributes of a payment order that is yet to be approved by supervisor
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Delete a payment order awaiting supervisor approval
Delete Payment Order
DELETECancel an approved payment order that is in an awaiting status viz. Warehouse, Awaiting Funds
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Perform debit transactions in an account by providing debit amount and currency in which to be debited
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Perform credit transactions in an account, providing the credit amount and the currency in which to be credited
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Retrieve a specific order for a given payment order id
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Retrieve list of authorised payment orders based on a specific criteria
Block or Unblock Funds
Banks can block funds fully or partially on an account for a specific or indefinite period of time. This topic explains the service operations and their APIs involved in initiating, updating, and reversing a fund block. It also explains the APIs to fetch fund blocking information.
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Creates a funds reservation with details such as account number, block or reserve amount, period of hold transaction, reason for holding. Funds reservations are created to block or reserve funds which restricts any debit movements affecting the account balance below the blocked amount for the specified period on an account.
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Update funds reservation with details such as account number, block or reserve amount, period of hold transaction, reason for holding. Funds reservations are created to block or reserve funds which restricts any debit movements affecting the account balance below the blocked amount for the specified period on an account.
Reverse Fund Blocking
DELETECancels the funds reservation of an account. Funds reservations are created to block or reserve funds which restricts any debit movements affecting the account balance below the blocked amount for the specified period on an account. On removal of the funds reservations, the blocked or reserved amount is now available for usage.
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Retrieves the reserved funds details such as reason, amount and period of reservation of the account
Standing Order
A standing order is a type of financial instruction that allows an account holder to authorise a fixed amount of funds to be automatically transferred from their account to another account, typically on a regular basis. The transfer can occur weekly, bi-weekly, monthly, or on any other regular interval specified by the account holder.
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Create standing instructions with payment type, payment frequency, ordering customer or bank information and accounts involved
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Update standing instructions with payment type, payment frequency, ordering customer or bank information and accounts involved
Delete Standing Order
DELETEDelete or revoke standing instructions for a customer
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Approve standing instructions that are sent for second or third level approvals
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Retrieves the list of standing instructions details such as instruction reference, mode of payment, payment frequency, amount, accounts & customers involved
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Retrieves the list of standing instructions details such as instruction reference, mode of payment, payment frequency, amount, accounts & customers involved
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Retrieves the list of failed standing instructions details such as accounts involved, payment type & reason of failure
Account Sweep
Account sweep is a financial service that automatically transfers funds between different accounts to maximise the use of available funds and minimise idle cash balances. It can also be used to pay down outstanding balances on lines of credit or loans. Account sweeps can be performed on a daily, weekly, or monthly basis, depending on the needs and preferences of the account holder.
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Initiate a new sweep transaction for a specific account
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Initiate a new sweep transaction for a specific account
Create Twoway Sweep
POSTInitiate a new sweep transaction for a specific account
Update Sweep
PUTUpdates an existing sweep transaction for specific account
Approve Sweep
PUTApproves a sweep transaction for specific account
Delete Sweep
DELETERemove an existing sweep transaction for specific account
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Retrieves the list of account links for a sweep to occur.
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Retrieves the details of specific sweep transaction
Repay Facility
You can create a payment order for transferring the funds from an account to a facility arrangement account to repay the facility amount.
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Create the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
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Create the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Repay Facility
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Disburse Loan
Loan disbursements refer to the drawdown of the loan principal, which can be in a single disbursement or tranches. The proceeds of the disbursal can be channelized into a customer or customer-authorised account available within the bank or externally. In the former case, loan disbursements can be automatic (using a settlement account) or manual. In the latter case, funds can be transferred to another bank using clearing and other payment mechanisms.
Loan Disbursement
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Repay Loan
You can create a payment order to move funds from a loan account to a funding account by specifying the details such as currency, debit amount, initiation type, credit account, and so on.
Repay Loan
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
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Create a simulation for loan product with details like customer identifier, currency, etc.
Direct Debit
You can link between a financial institution, or payee, and a drawdown account to facilitate the automatic collection of funds through direct debit.
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Link the direct debit to an existing drawing under a facility
Payoff Loan
Loan payoff is the pre-closure of a loan in a single payment before the actual maturity of the loan tenure. Payoff can also be called foreclosure, early closure, or early settlement of a loan account. Loan payoff involves functions like a simulation of the outstanding amount payable and a distinct function for payoff loans based on the simulation.
Prepay loan
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Settle payoff
POSTCreate the payment order in Transact for various scenarios like loan disbursement, merchant fee processing, prepay and loan repayment
Pay off simulation
POSTCreate a simulation payoff activity for loan product with product id details