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
Account Sweep
Account Sweeps are a movement of funds from one virtual account to another targeting to maintain the defined minimum or maximum amount of account balances. With this functionality, you can set up balance sweeps among virtual accounts that are part of the same structure and currency. You can also perform sweeps among accounts in a cash pool group.
Define Sweep Type
POSTCreates sweep type for virtual accounts.
Amend Sweep
PUTAmend existing sweep setup for example the sequence , minimum and maximum amount
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Creates the basic details of a group for a sweep. A group is a collection of accounts that are linked for cash pooling purposes
Create a Sweep
POSTCreates sweep with rules which will be checked against to see if a transfer of funds needs to be made from one account to another.
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Amends the basic details of a group for a sweep. A group is a collection of accounts that are linked for cash pooling purposes.
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Creates intra-day sweep for virtual accounts. This is used to run the cash pooling on-line if the group permits.