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Source Acct Nbr details |
  
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Navigation: Loan Screens > Account Information Screen Group > Payment Information Screen > Loan Information tab > Recurring field group > Recurring field group - FPRA not set >
Source Acct Nbr details
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Source Acct Nbr details |
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The Source Acct Nbr field in the Recurring field group contains the account number for the savings or checking account that will be debited for the loan payment. Debits can be made either from an in-house account or from accounts not at your institution. If you have an auto-payment cycle, this field is required or the payment will be rejected and post an error message on the Afterhours Processing Exceptions Listing (FPSRP013).
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Note: If you get an error message stating "This routing transit number is restricted," that means the account is an invalid account. See the Invalid Accounts tab for more information. |
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To debit accounts not at your institution ¢ |
Enter the account number of the institution entered in the Bank Routing Transit number from which to draw funds. |
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To debit accounts within your institution ¢ |
Enter the account number within your institution. The structure of the account number may vary from institution to institution.
All account numbers have the same structure regardless of how many digits are used in any portion of the number. For instance, some institutions use a 2-digit check digit while other institutions may use a 1-digit check digit.
Account numbers are broken down as follows: B = branch or office, N = account number, C = check digit. Dashes or spaces are not used when entering information and the check digit is always 2 digits, using a leading zero if necessary.
When the source bank account number is entered for in-house checking or savings accounts, the system will validate that the account number (including the check digit) is a valid account within the Deposit system.
If the savings or checking account is not on file or not in the correct format, the message "Invalid Source Bank Acct#" is displayed.
Overdraft Protection
You can draft loan payments from deposit accounts that have overdraft protection. The system will post the payment and pull the funds from the overdraft account if necessary. The "available balance" is used in the calculation to determine if sufficient funds are available.
The overdraft can be advanced from another account, or you can set up an option that allows the overdraft to be advanced from the same loan for which the payment is being posted.
Deposit System
The account structure is based on institution General Ledger options. This enables deposit accounts to have up to four characters in the "B" branch section of the account number, and up to 10 characters in the "N" number section of the account number. You can also have one or two characters in the "C" check digit portion of the account number. The best way to determine how your deposit accounts are structured is to go to the Deposit system. The way the boxes for the account number appear on that screen is based on the options your institution has selected.
If the "N" portion of the deposit account number is greater than 6 digits, the account number will appear exactly as it appears in the Deposit system except a two-digit check digit must be used. This may require the use of a leading zero for the check digit.
Example:
Institution General Ledger options are ODGT for the number of digits in the "B" branch and ADGT for the number of digits in the "N" account number.
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