Block or Unblock Funds
Banks can block funds on a deposits account, in full or partially, for a specific or indefinite period of time.
-
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.
-
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.
-
Retrieves the reserved funds details such as reason, amount and period of reservation of the account
Add or Remove Account Holders
It is a common banking practice to have more than one party, for example joint-holders, in a deposit. This section describes how a bank can maintain the deposit contract by adding or removing parties to an existing deposit.
-
Update the customer details of the term deposit such as add or remove joint customers
-
Update the customer details of the term deposit such as add or remove joint customers
-
Retrieves all the customer details for the given arrangement such as customer id, customer name, customer role, their beneficiary type, limit allocation percentage, GL allocation percentage and tax liability percentage.