The DEPOSIT service handles the complete lifecycle of liability accounts in any preferred currency. It is easy to add, maintain, suspend and close an account by using the inbuilt wizard. Funding can be done from account or by external payment. All transactions are processed in real time.
- Type of accounts:
- CASA (current & saving accounts)
- Time Deposits
- Interest:
- Interest rate can be fixed or floating
- Interest capitalization can be daily, weekly, monthly, quarterly, semi-annual or annual
- Interest accrual frequency is daily
- Charges:
- Can be fixed, banded or variable, like
- Monthly service charge
- Account opening fee
- Charge per debit/credit transaction (with a certain number of free debits)
- Can be fixed, banded or variable, like
It is possible to review statements of client accounts and drill down to original posting journals.
