Deposits, Withdrawals and Transfers
- Updated On 16 Nov 2020
- 3 Minutes To Read
Mambu allows you to easily manage and work with your customers' deposit accounts.
Enter a deposit
To log a deposit from a client on a Current / Savings Account:
- Go to the account's Overview page.
- On the right hand side of the screen, click on Deposit.
- Enter the amount and channel.
- Click on Make Deposit.
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 please read Customizing Menu Items.
For bulk deposit: go to Deposits Transactions menu item > Deposits Collections
Then 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.
To make several deposits without changing the original amount due and date, check the correspondent boxes > click on Post Deposits > click on Make Deposits.
To log a withdrawal from a client on a Current / Savings Account:
Go to the account overview page and on the right hand side of the screen, click on Withdrawal > enter the amount and channel > click on 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.
You can make transfers from a deposit account to another deposit or loan account, including deposit accounts on overdraft balance.
When a transfer will be made 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.
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.
Adjust deposits, withdrawals, and transfers
If for some reason you need to adjust a deposit, withdrawal, or transfer, you can do it as long as there is no deposit, withdrawal, or interest applied transaction logged after it.
To adjust a transaction on an account:
Navigate to Transactions > click on Actions button for the transaction you need to adjust > enter the reason for the adjustment > Adjust the transaction.
Backdate 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:
- Reverse all the transactions posted after the new transaction entry date (all transaction that have entry date bigger than the current transaction entry date)
- Post the new transaction
- Repost all the adjusted transactions
View 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.
If you have a question about how anything works or have come across something you haven't seen explained here, get in touch with our community of fellow users and Mambuvians where someone will lend a hand.
* If you don't already have an account you will be prompted to create one when you first visit the site.