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Club Account Fields field group |
  
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Navigation: Deposit Screens > Account Information Screen Group > Additional Fields Screen > Miscellaneous Fields tab >
Club Account Fields field group
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Club Account Fields field group |
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Use this field group to view and edit information about customer deposit accounts that have the club account (automated check payout) feature set. This feature can be enabled by marking the Club Account field on the Deposits > Account Information > Account Information screen.
Club accounts can be set up on savings or Certificate accounts. The withdrawal for the club account payout will be by check; transfers cannot be processed on club account payouts. Note that the Payout Frequency field on this screen only offers monthly increments.
Club accounts are accounts used to save funds for a specific purpose, such as a holiday. Customers make deposits to the account over time, and a check is created and sent to them on a predefined date.
The Minimum Balance Limit field cannot be used with the club account feature. Instead, use the Payout Holdback field to maintain a specified balance.
The fields in this field group are as follows:
Field |
Description |
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Mnemonic: DMPOKP |
Use this field to indicate the balance the system should keep in the customer account when automatically conducting a payout withdrawal. If the amount held back is greater than the current balance of the account at payout time, no payout will occur. However, the Next Payout Date field will be updated by whatever value is set in the Payout Frequency field. |
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Mnemonic: DMPODT |
Use this field to indicate the next date the system should automatically withdraw the customer account balance (minus the value in the Payout Holdback field) and send it to the customer by check. Interest will always be accrued to this date and posted on the business day before the next payout date. |
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Mnemonic: DMPOFQ |
Use this field to indicate how often the system should automatically withdraw the customer account balance (minus the value in the Payout Holdback field) and send it to the customer by check.
Possible payout frequencies are:
1 - Every month 2 - Every other month 3 - Every three months 6 - Every six months 12 - Once a year |