Support Center

Deposits, Withdrawals and Transfers

Last Updated: Nov 11, 2016 05:45PM CET

 

Enter a deposit

Deposits Collection

Make withdrawals

● Make transfers

Early withdrawals from Fixed Deposits

Reverse deposits and withdrawals

Backdating Deposits and Withdrawals

History of deposits and withdrawals

 

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Enter a deposit

To log a deposit from a client on a Current / Savings Account:
Go to account >  Deposit > enter the transaction details and channel > click on Make Deposit.

To backdate a deposit, just check the Backdate option and enter the needed date.

 

 

 

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Deposits Collection

If you need to make several deposits you can do it through the bulk deposit option. In order to do so you must create first the Deposits Collections menu item. For more details on creating this menu item please read more here

For bulk deposit go to Deposits Transactions menu item > Deposits Collections

         

Then click on the dropdown menus to filter the deposits per branch, centre, credit officer and product > click on Filter.

A list with all the deposits following the criteria you chose will appear. The default values for Deposit Amount are the ones defined in those accounts.

To make several deposits without changing the original amount due and date, check the correspondent boxes > click on Post Deposits > click on Make Deposits.

 

 

 Note that the value in the Post Deposits button gets updated every time you add a new deposit, so that you can always see the total amount.

 

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Make withdrawals

To log a deposit from a client on a Current / Savings Account:
Go to account >  Withdrawal > enter the transaction details and channel > click on Make Withdrawal.

Withdrawals on accounts that have a maturity period enabled are not possible. Only administrator users and users with the Make early withdrawal permission can do it.

 

 

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Make transfers

You can make transfers from a deposit account to another deposit or loan account, including deposit accounts on overdraft balance.

When a transfer will be made from an overdraft account, the transferred amount will be debited on the overdraft account at accounting level and credited on the target deposit or loan account. Transfers can be made even if the current deposit account balance is positive, but will become negative (overdraft) after the transfer is made.

 

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Early withdrawals in Fixed Deposits

In a Fixed Deposit account, after the maturity period is started, only administrator users or those who have the permission to make early withdrawals will be able to withdraw the deposit. Other users won't see this as an option.

 

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Reverse deposits, withdrawals and transfers

If for some reason you need to reverse a deposit, a withdrawal or transfer, you can do it as long as there is no deposit, withdrawal or interest applied transaction logged after it.

To reverse a transaction on an account:
Go to on Transactions > click on Actions button for the transaction you need to reverse > enter the reason for the reversal > Reverse the transaction.

 

 

For Fixed Deposits, when the maturity period is active it won't be possible to undo deposits.

 

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Backdating Deposits and withdrawals

Some organizations, due to the nature of their operations, need to backdate deposits or withdrawals which occurred days before, for instance during a collection in the field.

You can backdate any deposits or withdrawals. When posting a backdated transaction before an existing one Mambu will:

  1. Reverse all the transactions posted after the new transaction entry date (all transaction that have entry date bigger than the current transaction entry date)

  2. Post the new transaction

  3. Repost all the reversed transactions
     

On the Accounting side, and just as it happens with repayments, backdated deposits and withdrawals will be logged for the date they were backdated for.
Transfers can not be backdated.

 

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History of deposits, withdrawals and transfers

Every deposit, withdrawal, transfer or fee applied to an account will be stored under Transactions, as well as the method of payment used for each of them.

All this information will be available even after the account is closed.

 

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