Add or Remove Account Holders
Banks allow multiple account holders (for example, joint holders) to be recorded on accounts and also allow these account holders to be modified during the life of the account. This section describes how the bank can modify the involved account holders of an existing account.
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Update the customer details of the account such as add or remove the joint customers, tax liability percentange, limit liability percentage of the joint customers
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Update the customer details of the account such as add or remove the joint customers, tax liability percentange, limit liability percentage of the joint customers
Posting Restriction
Banks employ posting restrictions to regulate transactions in accounts. Posting restrictions are transaction-based rules that prevent transactions from being posted to an account for the purpose of operational control. A typical business case in which a bank uses a posting restrictions to regulate credits into an account is for non-resident accounts, where there may be restrictions on depositing local currency amounts into the account.
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Update the account details to block or unblock the account by setting the posting restriction and to change the nick name of the account
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Update the account details to block or unblock the account by setting the posting restriction and to change the nick name of the account
Payment Schedule
A payment schedule is the agreed-upon timeline and frequency for making payments on a loan or credit account. The payment schedule specifies when the payments are due, the amount due, and the total number of payments required to pay off the account.
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Update the payment schedule condition such as payment method from capitalise to pay, payment frequency from monthly to quarterly etc., on an account
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Retrieves the payment schedule of an arrangement account
Statement Frequency
Banks generate account statements to notify the customers about the account's activity at defined intervals.
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Update the statement frequency of an account.
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Retrieves the statement frequency of an account
Renegotitaion
This service helps you to modify the terms and conditions of the account. You can enable a variety of account maintenance activities, both financial and non-financial. Some of the key maintenance activities are maintenance of account titles, restrictions on account, credit and debit interest information and revisions of settlement account.
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Perform the renegotiation of the account contract details such as payment frequency, payment start date, interest rate, statement frequency and settlement details, etc.
Manage Interest
Banks can pay an interest to the customers on credit balances held in their accounts. Credit interest or debit interest can be changed in the account at any time during the entire life cycle of the account.
Update Interest
PUTUpdate the interest conditions of the account such as interest rate, tier details, margin amount etc.
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Retrieves the interest details of an account such as interest rate , interest type and interest amount
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Retrieve the past period's interest accruals
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Retrieves the interest accrued for the current period of an account
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Retrieves the interest accruals of the previous year
Account Facilities
Facilities for an account control the list of available services or facilities for the arrangement account. For example, if an account has the facility of overdraft, passbook, cheque, and so on can be found using the facility property.
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Update the service availability for an account like block or unblock of cheque,card,sweep etc.,
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Retrieves the service availability for an account like block or unblock of cheque,card,sweep etc.,
Manage Cheques and Cards
Below are the service operations and their respective APIs involved in requesting a card.
Card Issue
POSTCreate card issue request with details such as card status, issue date, pin issue date and charges
Update Card
PUTUpdate card issue request with card status, issue date, pin issue date, cancellation date & reason
Remove Issue Card
DELETEDelete or revoke the card issue request for an account
Cheque Issue
POSTIssue a new cheque
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Update issued cheque details
Remove Cheque Book
DELETEDelete the issued cheque
Manage Alerts
This service helps you to subscribe or unsubscribe to alerts for events and Digital Account Officer (DAO).
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Initiate an alert request or external subscription.
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Initiate an alert request or external subscription.
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Update alert subscription details
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Retrieves subscribed alerts details
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Retrieves eligible alerts for the account
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Retrieves the details of active alerts for a given account number
Account Settlement
Account settlement information outlines the details of how an account balance is paid or settled, either by the account holder or by a third party. This information can include the amount of the payment, payment method, payment date, and any associated fees or charges.
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Update the settlement conditions of the account such as payin account, payin percentage, payin amount, payout account, payout percentage, payout amount, etc
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Retrieves the settlement details for the given arrangement such as payment type, payin account, payin percentage, payin amount, payout account, payout percentage, payout amount, etc
Manage Limits
Limit information highlights the specific restrictions or caps imposed on certain account activities or transactions. Common types of limits that may be placed on accounts are transaction limits, withdrawal limits, transfer limits, and spending limits.
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Update the limit conditions of the account with the secondary limit amount and other limit details
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Retrieves the currency, balances, limit details and arrangement details of the account
Account Dormancy
Account dormancy is a period of inactivity on a financial account, such as a bank account or credit card account, during which no transactions or other account activity occurs. The length of time that an account can remain dormant before it is considered inactive or dormant varies depending on the financial institution and the type of account. Typically, an account is considered dormant if no customer-initiated transactions, such as deposits or withdrawals have occurred for a specified length of time, which can range from six months to two years.
Reset Dormancy
PUTReset the dormant account to active status manually
Update Dormancy
PUTDeactivates the savings account and moves it to given dormancy status.
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Retrieves the dormancy setup details for the account such as dormancy period, status etc
Stop Payment
Stop payment is a service that allows a customer to stop payment on a check that they have made, typically if the check has been lost, stolen, or if there is an issue with the payment.
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Initiate a stop cheque request for an account
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Update an existing stop cheque request for an account
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Retrieves the list of Payment Stop requests details such Cheque nos, Amount range, Beneficiary, Period and Charge details available for a specific account
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Retrieves the list of Payment Stop requests available in the system with details such as Account Reference, Cheque nos, Amount range, Beneficiary, Period and Charge details
Change Product
Changing product is the process of switching from one type of account product to another within a same product group offered by the bank or financial institution that may involve additional fees and charges.
Change Product
PUTChange account from one product to another such as changing savings account to current account
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Update the action such as proof and publish for the specific product
Change Branch
You can transfer an existing account from one branch of a bank or financial institution to another. This service requires the account holders to provide the required information such as their account number, personal identification, and the new branch location.
Change Branch
PUTUpdates the branch of an account
Change Channel
You can update the sourcing channel for the existing customer accounts. Sourcing channel can be prominent information for reporting. The available channels are OLB, and MB.
Change Channel
PUTUpdates the channel of the account
Change Line of Business
In the organization hierarchy, the line of business is defined to distinctly define different cost centers for bank, and align them later to a particular branch depending on its construct and requirement. This endpoint is used to update the line of business.
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Updates the type of line of business of the account
Notice Withdrawal Conditions
Notice withdrawal is a feature that may be offered on certain types of accounts, such as savings accounts. With notice withdrawal, the account holder must provide advance notice to the financial institution before withdrawing funds from the account. The notice period may vary depending on the account terms and the financial institution's policies
Create a Notice
PUTNotifies the withdrawal of amount from account by providing the withdrawal date and amount etc. This is applicable only for notice type of accounts.
Update Notice
PUTUpdates the notice of withdrawal of amount from account by providing the withdrawal date, bill reference and amount etc. This is applicable only for notice type of accounts.
Cancel Notice
PUTCancels the notification of withdrawal of amount from account.
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Retrieves the details of notice bills
Migration
Migration of accounts involves the process of updating and transitioning the account from an older or existing account. Below are the service operations and their APIs involved in the process.
Migrate Accounts
POSTMigration of a legacy system account contract to the given account product by providing the original contract date, account name, statement, payment frequency and start date, etc.
Migrate Bills
PUTCaptures the bill information of the account such as bill id, property names, bill amount etc. This is used to migrate the bills of a legacy contract which is migrated from other system & update the bill details
Migrate Balances
PUTCaptures the balance details of the account such as balance type, due amount etc. This is used to migrate the balances of a legacy contract which is migrated from other system & update the balance details
Account Closure
Customers usually initiate account closures. However, banks may also initiate account closure activities for example, when an account is inactive or has a zero, negative, or below a threshold balance for a period of time.
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Perform the settlement of payoff amount for the savings account by providing the transaction amount, currency and also settlement instructions
Close Account
PUTPerform the closure of the savings account after settlement of payoff amount. The account moves to closed status based on the closure conditions defined in the system
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Calculate the payoff amount for the current account which includes the outstanding amounts and also amounts such as account balances, interest, and charge amounts
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Approves account closure information to allow closing of an account which is no longer in use
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Retrieves the account closure information of the account such as closure date and reason, mode of closure, balances on the date of closing and pending charges
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Retrieves the payoff details of an account