Navigation:  Deposit Screens > Account Information Screen Group > Additional Fields Screen > Additional Fields tab > Balance and Limit Information field group > Minimum Balance Limit information

Use this field in the Balance and Limit Information field group to indicate the lowest balance your institution allows for the customer account. This amount is used as a limit when processing transactions against the account. Tellers will be notified if a transaction will force the customer account below this value.

 

Loan sweeps on customer deposit accounts process using this field, the Sweep Minimum Balance field (from the Deposits > Definitions > Product Codes screen), and the Maximum Sweep Limit field. Loan sweeps process as follows:

 

Sweep Outs

•When a sweep out transfer is required, the amount transferred will be the difference between the customer account's Payable Balance (from the Deposits > Account Information > Account Information screen) and the Sweep Minimum Balance (or the value in this field if the Sweep Minimum Balance field is set to zero) up to the outstanding principal balance on the loan.

•If the Maximum Sweep Limit is not set to zero, the sweep out transfer amount will be the difference between the Payable Balance and the Maximum Sweep Limit up to the outstanding principal balance on the loan.

 

Sweep Ins

•A sweep in transfer will occur if the Current Balance of a customer account (from the Account Information screen) is below the Sweep Minimum Balance (or the value in this field if the Sweep Minimum Balance field is set to zero). The sweep in amount will be the difference between the Current Balance and the Sweep Minimum Balance (or the value in this field if the Sweep Minimum Balance field is set to zero).

•If the Maximum Sweep Limit field is not set to zero, the sweep in amount that will be transferred is the difference between the Current Balance and the Maximum Sweep Limit.

•The sweep in transfer amount will be limited by the remaining available credit on the loan.

•When the Current Balance of a customer account is between the Sweep Minimum Balance and the Maximum Sweep Limit, no sweep transactions will be processed.

 

To learn more about sweep transactions, see the Sweep CDTs help page.

 

This field cannot be used with club accounts (the Club Account field on the Deposits > Account Information > Account Information screen must be left blank). Overdraft features can be adjusted for individual customer accounts on the Deposits > Account Information > Overdraft & Secured Loans screen. For the transaction, institution, and CIM GOLD features that pertain to the use of the overdraft feature, see the Overdrafting Conditions and Options help page. In order to use the overdraft function on a customer account, the Overdraft field on the Account Information screen must be marked.

 

Transactions can take the customer account below this minimum balance with a GOLDTeller supervisor override. Overrides are set up for your institution on the Deposits > Definitions > Transaction Options screen and applied to customer accounts on the Deposits > Definitions > Hold Code Definitions screen.