Transfer Funds From A Savings Account
Locate the saving account by viewing the client, group or center that holds the saving account and clicking on the saving account under Saving Account Overview (the originating account).
The saving account from which the transfer originates needs not belong to the same client that the destination account belongs to. However, the client who owns the originating account must request/authorize the transfer.
The originating and destination accounts must be in the same currency
Start by locating the savings account from which you want to transfer funds.
This means you must first identify the client (an individual), group (a set of clients), or center (an organization or administrative level) that owns the account.
Once the client, group, or center is found, navigate to their profile or detailed information.
In this section, you will see a list of their accounts.
Look for the option View Closed Accounts.
Under this view, click on the savings account you want to use as the source account (the account from which the money will be transferred).
- Amount: Enter the transfer amount.
- Transaction Date: Select the date using the calendar.
- Description: Enter relevant notes.
- Click Submit.
The transfer amount will be deducted from the source account, transferred to the destination account, and the source account balance will be updated immediately.
To transfer funds from a saving account to Recurring deposit account.
Recurring deposit should be active and savings account should have the required balance in order to initiate the transferring funds from savings account.
1) In savings account page, Click on Menu Hamburger>>More>>Transfer Funds
2) Please follow the input steps as mentioned in the screen shot below:
To transfer funds from a saving account to Fixed deposit account.
Fixed deposit should be linked with savings account at the time of a new Fixed deposit application submission in order to initiate the transferring funds from savings account.
Note:- Transfer funds can be done only one time, that is, for the new Fixed deposit activation if the linked savings account is active.
1) In savings account page, Click on Hamburger Menu>> More>>Transfer Funds
2) In the fixed deposit application:
Settings >> Link a savings account >> Select the savings account to associate with this fixed deposit account.
Then, approve and activate the fixed deposit.
This way, the specified deposit amount is automatically transferred from the linked savings account.
You can verify this by going to the Fixed Deposit Account page >> Transactions >> and selecting one of the completed transactions.
