Adjusting Overdraft Terms
- 26 Oct 2021
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Adjusting Overdraft Terms
- Updated On 26 Oct 2021
- 1 Minute To Read
- Print
- DarkLight
- PDF
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In Mambu, you can adjust overdraft terms on Active deposit accounts.
To do so:
- Open the deposit account.
- On the right hand side of the screen, click on More > Adjust Overdraft Terms.
- Make the changes (adjust Overdraft limit, Interest Rate, Expiry Date, or Notes).
- Click on Save Changes.
Adjust overdraft limit
When the overdraft limit is changed, a non financial transaction, "Overdraft Limit Changed", will be logged, which helps in calculating the number of days in arrears for the account.
When the limit is set below the negative balance, the difference between Overdraft Limit and Balance will set the account "In Arrears". When the Overdraft is in arrears, you will see "Overdraft In Arrears" on the account overview, under the "Overdraft Conditions" section.
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