Support Center

Deposit Accounts' Life Cycle and States

Last Updated: Jul 26, 2018 05:09PM CEST

When you create a new deposit account in Mambu, it will go through a cycle with different states, each of them with specific implications which are described below.

Pending Approval


It is the initial state when you open a new deposit account. This means that the deposit application is under evaluation and can be “Approved” or “Rejected” as the next step of the process, or it can be “Withdrawn” by the client.


In this state it is still possible to edit the deposit account terms, such as the interest rate.




If the deposit account application doesn’t pass the initial evaluation, it can be “Rejected” through “Close” and “Reject” option.  The account will be automatically closed and classified in Mambu as "Closed (Rejected)".


The deposit applications will keep all their associated information, such as comments, notes or attachments, and remain associated to the client or group. This will allow organizations to have a record of all applications which were rejected with comments explaining why.


The application can be re-opened later, which will put the account directly to “Active” state.




If the client chooses to “Withdraw” the deposit application, it can be reflected in the system by choosing “Close” and “Withdraw” option. The deposit account will be automatically closed in Mambu, and classified as "Closed (Withdrawn)".


The application can be re-opened later, which will put the account directly to “Active” state.




Once the deposit account application passed the evaluation, it can be “Approved”.

To approve a deposit account, choose "Approve", add any comments you might have and confirm the state.

At this state the client can still “Withdraw” the application.


Once approved, you can still adjust the recommended deposit amount and set a maximum withdrawal amount by using the relevant options under “More”.

It’s possible to send back the application to “Pending Approval” state by “Undo Approve” option under “More”.




Once the client makes any transaction (deposit, withdrawal or transfer) on the account -  it will become “Active”.


 It’s possible to send back the deposit application to “Approved” by “Undo Activate” option under “More”, as long as no transactions have been yet posted on the account.




If no transactions (deposit, withdrawals or transfers) have been performed for a period of time, the account can be automatically be set to “Dormant” state (dormancy period is optional and can be defined at the Product level). This allows to identify and report on dormant accounts, as well as implement other specific workflows such as contacting the clients who own the dormant accounts.

Once the account status is changed to “Dormant”, no more interest is accrued on the account and no automated transactions are posted on it (interest, fees, transfers etc).

 Once a transaction is performed on a dormant account (by an authorised user), then the deposit account will automatically become “Active” and accrued interest will be recalculated for the dormancy period and applied to the account.




When the client wishes to close the deposit account that has a zero balance, the account can be closed and will be stored under the client's profile as "Closed”.


The deposit account can be re-opened, and it will be sent directly to “Active” state.




In order to prevent any transactions from being performed on the account (deposits, withdrawals, transfers), you can lock it under “More” options. The new state will be “Locked”.


Account in Active, Dormant and In Arrears states can be locked.

It’s possible to “Unlock the Account”, which will set the deposit account back to “Active” state and allow to perform transactions.


Additional states applicable to Fixed Deposit Accounts and Savings Plans


Begin Maturity Period


Once the opening balance quota is reached (defined under the Deposit Product settings), you can “Begin Maturity Period” for that account.

The state of the deposit account will remain “Active”.


It’s possible to “Undo Begin Maturity Period” for the deposit account.




Once the deposit account reaches maturity is will be stored in the system as “Matured”.


Once the matured account has a zero balance, then it is possible to close the account and it will be stored under the client's profile as "Closed”.


Additional states and processes applicable to Overdrafts


In Arrears


When a deposit account with an overdraft has a negative balance after the overdraft expiry date or the overdraft limit is decreased below the current negative balance, Mambu will automatically change its state to "In Arrears" until the deposited amount will cover the overdraft balance.

When the overdraft balance is covered, the deposit account will be sent back to “Active” state.




When repayments are no longer expected on a deposit account with an overdraft that is “In Arrears”, it can be closed and written off.

To “Write Off” a deposit account with an overdraft choose “Close” and “Write Off” option.

You can also add any notes you wish to this transaction that will be stored with the history of transactions for this account.

The account will be stored in the client’s profile as “Closed (Written Off)”.


If you wish to undo writing-off the account, it’s possible to use “Undo Write Off” under “More” options.
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