How to Transfer funds from a Saving Account

To transfer funds from a saving 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

1. Click the saving account name in the list to view the saving account information.

2. Click More and Transfer Funds from the action bar.

3. Select the group and account (for example, the destination loan account to be repaid) to transfer funds to:

   a. Office: Select the office where the destination account is located.

   b. Client: Select the client who holds the destination account.

   c. Account type: Select the product type upon which the destination account is based.

   d. Account: Select the destination account.

   e. Amount: Type the transfer amount.

4. Select the Transaction date from the calendar pop-up.

5. Type any notes in Description

6. Click Submit.

The transfer amount will be withdrawn from the originating account, transferred to the destination account and the originating account balance will be updated immediately.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 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 More>>Transfer Funds

2) In the Fixed Deposit Application>>Settings>>Link savings>>Select Savings account to link to this Fixed deposit account.

3) Then Approve and Activate the Fixed Deposit.

So the mentioned deposit amount automatically gets transferred from the linked savings account. You can verify by going to Fixed deposit account page>>Transactions>>Select one of the done transaction.

Related articles

• Page:Share Accounts

• Page:How to Prepay a Loan Account

• Page:Using collection sheet or other payment types for making payments

• Page:How to Assign a Loan Officer

• Page:How to Add a Charge to a Loan Account