Deposits, Withdrawals and Transfers
  • 08 Jun 2022
  • 4 Minutes To Read
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Deposits, Withdrawals and Transfers

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Mambu allows you to easily manage and work with your clients' deposit accounts.

Entering a deposit

To log a deposit from a client on a current / savings account:

  1. Go to the account's overview page.
  2. On the right-hand side of the screen, select Deposit.
  3. Enter the amount and use the Channel dropdown to select the transaction channel.
  4. Select Make Deposit.
Please Note
To backdate a deposit, select the Backdate checkbox option and enter the needed date.

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Deposits collection

If you need to make several deposits you can do it through the bulk deposit option. In order to do so you must create first the Deposits Collections menu item. For more details on creating this menu item, see Menu Items.

To make a bulk deposit transaction:

  1. On the main menu, go to Deposit Transactions > Deposits Collections.

Deposits Transactions menu with Deposits Collections options

  1. Click on the dropdown menus to filter the deposits per branch, centre, credit officer and product > click on Filter.

A list with all the deposits following the criteria you chose will appear. The default values for Deposit Amount are the ones defined in those accounts.

  1. To make several deposits without changing the original amount due and date, check the correspondent boxes > click on Post Deposits > click on Make Deposits.


Please Note
The value in the Post Deposits button gets updated every time you add a new deposit, so that you can always see the total amount.

Making deposit transactions in bulk

Please Be Aware

This feature is currently in the pre-release phase and enabled only for certain customers on request. If you would like to learn more about whether this feature may fit your current or upcoming needs, please talk to your CSM or solutions engineer.

Apart from using the UI (as presented in the topic above), you can also post deposit transactions in Bulk using the API.

While the Deposits collection functionality allows you to post multiple transactions simultaneously but would fail in full if one of them fails, with the API each transaction is processed separately meaning that if one of the transactions fails, the rest of them continue to run and have their own status.

There is a second API endpoint that allows you to see the status of a bulk transaction, identified by the bulk ProcessKey which gives the status of the bulk and shows all successful operations processed along.

Making withdrawals

To log a withdrawal from a client on a current or deposit account:

  1. Go to the account's overview page.
  2. On the right-hand side of the screen, select Withdrawal.
  3. Enter the amount and use the Channel dropdown to select the transaction channel.
  4. Select Make Withdrawal.

Withdrawals on accounts that have a maturity period enabled are not possible. Only administrator users and users with the Make early withdrawal permission can do it.

Make withdrawal pop-up with Cancel and Make Withdrawal buttons.

Making transfers

You can make transfers from a deposit account to another deposit or loan account, including from deposit accounts on overdraft balance with the condition that they are made in the same currency.

When you make a transfer from an overdraft account, the transferred amount will be debited on the overdraft account at accounting level and credited on the target deposit or loan account. Transfers can be made even if the current deposit account balance is positive, but will become negative (overdraft) after the transfer is made.

Please Note
If the Accounting in Multicurrency feature is enabled, transfers will be allowed as long as the accounting rules of the related products contain GL accounts set in the same currency.

Custom fields for transfers

Transfers are the only transaction type made without using transaction channels to which you may assign custom fields. Custom fields are additional fields you can create in order to capture additional information required for your business processes. For more information, see Custom Fields and Posting Transactions with Custom Fields.

Early withdrawals in Fixed Deposits

In a Fixed Deposit account, after the maturity period is started, only administrator users or those who have the permission to make early withdrawals will be able to withdraw the deposit. Other users won't see this as an option.

Backdating deposits and withdrawals

Some organizations, due to the nature of their operations, need to backdate deposits or withdrawals which occurred days before, for instance during a collection in the field.

You can backdate any deposits or withdrawals. When posting a backdated transaction before an existing one Mambu will:

  1. Reverse all the transactions posted after the new transaction entry date (all transaction that have entry date bigger than the current transaction entry date)
  2. Post the new transaction
  3. Repost all the adjusted transactions
Please Note
On the Accounting side, and just as it happens with repayments, backdated deposits and withdrawals will be logged for the date they were backdated for.
Please be Aware
Transfers cannot be backdated.

Viewing the history of deposits, withdrawals, and transfers

Every deposit, withdrawal, transfer or fee applied to an account will be stored under Transactions, as well as the method of payment used for each of them.

Please Note
All this information will remain available after the account is closed.

Adjusting deposits, withdrawals, and transfers

For more information about adjusting deposits, withdrawals, and transfers, see Adjusting Transactions.

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