Performing Transactions on Current Accounts

A top-up transaction represents adding amounts to the account before the value drains down to zero.

You can add top-up transactions to an approved contract via Loan Management's user interface or through API calls, using the Loan Management endpoints. Read more about these endpoints in the Loan Management Developer Guide.

In order to add a top-up transaction to a contract through the menus available in Loan Management, follow these steps:

1. In FintechOS Portal, select a contract with Approved status and double-click to open it.

2. Navigate to the contract's Payments tab and click the Insert button above the Transactions section. The Event page is displayed.

   

3. Fill in the following fields:

   • Event Date - This is pre-filled with the current date.

   • Transaction Type - Select from the list the Top Up Account transaction type. If you can't find it, then the transaction type is not associated with the banking product which is at the base of the contract.
     

   Other values are automatically completed: contract, customer, and currency.

4. Click the Save and Reload button.
   The event is saved in Draft status and a transaction number is automatically generated for it. The Edit Contract Event page corresponding to the selected transaction type is displayed. The account's actual balance is automatically calculated, and you can't edit it.

   

5. Fill in the external identifier of the transaction, if available.

6. In the Event Value field, enter the amount that is added to the account.

7. Enter the Source Account for the respective amount, the account from where the funds are taken to perform the top-up.

   

   NOTE  
   Loan Management actually uses the financial institution's reconciliation account as a source bank account.

8. Click the Save and Reload button.
   If the event value meets the business requirements defined within Loan Management, the event is saved. Otherwise, an error message appears. Change the values as instructed in the message and try saving the event again.
   While the event is in Draft status, you can modify all the event's fields except Transaction Type. The event value is not applied to the contract while the event is still in this status.
   

9. Approve the event by changing its status to Approved in the upper left corner of the Event page.
   

10. Confirm the change of status in the Confirmation window, clicking Yes. The event is now in Approved status and Loan Management applies the transaction to the contract, moving the funds specified in the event value from the source account into the current account.

    The transaction is visible in the Transactions section.

    

    NOTE  
    For approved transactions on current accounts, Loan Management updates the repayment schedule when running the End of Day job on the last day of the month.

11. View the balance of the account after approving the transaction, clicking the pencil icon next to the Main Bank Account field in the contract's Overview tab:

    

A withdrawal transaction represents removing funds from a bank account.

You can add withdrawal transactions to an approved contract via Loan Management's user interface or through API calls, using the Loan Management endpoints. Read more about these endpoints in the Loan Management Developer Guide.

In order to add a withdrawal transaction to a contract through the menus available in Loan Management, follow these steps:

1. In FintechOS Portal, select a contract with Approved status and double-click to open it.

2. Navigate to the contract's Payments tab and click the Insert button above the Transactions section. The Event page is displayed.

   

3. Fill in the following fields:

   • Event Date - This is pre-filled with the current date.

   • Transaction Type - Select from the list the Withdraw transaction type. If you can't find it, then the transaction type is not associated with the banking product which is at the base of the contract.
     

   Other values are automatically completed: contract, customer, and currency.

4. Click the Save and Reload button.
   The event is saved in Draft status and a transaction number is automatically generated for it. The Edit Contract Event page corresponding to the selected transaction type is displayed. The account's actual balance is automatically calculated, and you can't edit it.

5. Fill in the external identifier of the transaction, if available.

6. In the Event Value field, enter the amount that is removed from the account.

7. Enter the Destination Account for the respective amount, the account where the funds are being moved to.

   

   NOTE  
   Loan Management actually uses the financial institution's reconciliation account as a destination bank account.

8. Click the Save and Reload button.
   If the event value meets the business requirements defined within Loan Management, the event is saved. Otherwise, an error message appears. Change the values as instructed in the message and try saving the event again.
   While the event is in Draft status, you can modify all the event's fields except Transaction Type. The event value is not applied to the contract while the event is still in this status.
   

9. Approve the event by changing its status to Approved in the upper left corner of the Event page.
   

10. Confirm the change of status in the Confirmation window, clicking Yes. The event is now in Approved status and Loan Management applies the transaction to the contract, removing the funds specified in the event value from the current account.

    The transaction is visible in the Transactions section.

    

    NOTE  
    For approved transactions on current accounts, Loan Management updates the repayment schedule when running the End of Day job on the last day of the month.

11. View the balance of the account after approving the transaction, clicking the pencil icon next to the Main Bank Account field in the contract's Overview tab:

    

A transfer between my bank accounts transaction represents the process of moving funds between the same customer's bank accounts.

You can add transfer transactions to an approved contract via Loan Management's user interface or through API calls, using the Loan Management endpoints. Read more about these endpoints in the Loan Management Developer Guide.

In order to add a transfer transaction to a contract through the menus available in Loan Management, follow these steps:

1. In FintechOS Portal, select a contract with Approved status and double-click to open it.

2. Navigate to the contract's Payments tab and click the Insert button above the Transactions section. The Event page is displayed.

   

3. Fill in the following fields:

   • Event Date - This is pre-filled with the current date.

   • Transaction Type - Select from the list the Transfer between my bank accounts transaction type. If you can't find it, then the transaction type is not associated with the banking product which is at the base of the contract.
     

   Other values are automatically completed: contract, customer, and currency.

4. Click the Save and Reload button.
   The event is saved in Draft status and a transaction number is automatically generated for it. The Edit Contract Event page corresponding to the selected transaction type is displayed. The account's actual balance is automatically calculated, and you can't edit it.

5. Fill in the external identifier of the transaction, if available.

6. In the Event Value field, enter the amount that is added to the account.

7. Select the Destination Account where the respective amount should be transferred into. You can choose from the list of accounts that belong to the contract's customer and have the same currency.

   

8. Click the Save and Reload button.
   If the event value meets the business requirements defined within Loan Management, the event is saved. Otherwise, an error message appears. Change the values as instructed in the message and try saving the event again.
   While the event is in Draft status, you can modify all the event's fields except Transaction Type. The event value is not applied to the contract while the event is still in this status.
   

9. Approve the event by changing its status to Approved in the upper left corner of the Event page.
   

10. Confirm the change of status in the Confirmation window, clicking Yes. The event is now in Approved status and Loan Management applies the transaction to the contract, moving the funds specified in the event value from the current account into the destination account of the same customer.

    The transaction is visible in the Transactions section.

    

    NOTE  
    For approved transactions on current accounts, Loan Management updates the repayment schedule when running the End of Day job on the last day of the month.

11. View the balance of the account after approving the transaction, clicking the pencil icon next to the Main Bank Account field in the contract's Overview tab: