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.
-
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
-
Calculate the payoff amount for the current account which includes the outstanding amounts and also amounts such as account balances, interest, and charge amounts
-
Approves account closure information to allow closing of an account which is no longer in use
-
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
-
Retrieves the payoff details of an account
Fees and Charges
Fees and charges are the costs associated with maintaining an account and using its various services and features. These costs can vary depending on the type of account and the specific services used by the account holder. This service helps you to fetch the details of charges associated to an account.
Fees and Charges
GETRetrieves the charge details of an account