Account product parameters
The following parameters are used when creating an account product. Mandatory fields are marked with a red asterisk (*).
Details
Organisational unit *
Organisational unit under which this product is defined.
Jurisdiction country *
Jurisdiction country where the bank operates and the product is valid.
Banking mode *
Banking mode under which this product operates.
Available options are:
ConventionalIslamic
Product code *
Unique product code written with capital letters and underscores.
Example: MY_FIRST_ACC_PRODUCT
Product name *
Product commercial name.
Product description *
Product internal description.
Reporting product code *
Reporting product code to which this product is linked. The reporting product code represents the category of a product or service used for management reporting purposes through the whole platform.
Validity range from
The start date from which the product becomes available for use in new account creation or product changes.
Validity range to
The end date after which the product is no longer available for selection. Once this date is reached, the product is deactivated; however, existing accounts using the product remain valid.
Account type setup
Account type *
Specifies the account type for which this product is valid.
Account holder type *
Specifies the type of account holder for which this product is valid.
Allow contractual overdraft
Indicates whether contractual overdrafts are allowed for accounts created under this product.
Note: This field is displayed only when the account type is set to CURRENCY.
Allow joint accounts
Indicates whether multiple owners are allowed for accounts created under this product.
Note: This field is displayed only when the account holder type is set to Private and account type is set to CURRENCY.
Account type setup
Defines the configuration specific to the account type for this product. If left empty, no account type–specific restrictions apply.
Service provider
Defines the account service provider code for this product. If left empty, no service provider–specific restrictions apply.
Residency
Residency country codes
List of allowed residency country codes for accounts created under this product. If left empty, all ISO country codes are permitted.
Tax residency country codes
List of allowed tax residency country codes for accounts created under this product. If left empty, all ISO country codes are permitted.
Balance currencies
Allowed currencies
List of currencies in which balances are allowed for accounts created under this product. If left empty, all currencies supported by the Account module are permitted.
Note: Attempting to create a balance in a currency not on this list will result in an error.
Default currency code
Specifies the default currency code used when opening an account under this product via the UI. If provided, it must be included in the Allowed currencies list. If Allowed currencies is empty, the value must be one of the currencies supported by the Account module.
Note: This field is not used for validation or defaulting during account creation.
Auto-create allowed currency balances
Indicates whether balances in all allowed currencies should be automatically created when a new account is opened under this product. If enabled, the system will initialise one balance per allowed currency at the time of account creation.
Class codes
Allow all class codes
Indicates whether all account type–related class codes are allowed for accounts created under this product. If enabled, both Class codes and Default class code must be left empty.
Class codes
Class codes allow deposits, overdrafts, fees, and other items to be mapped to GL accounts more specifically than the account type alone. This is the list of class codes allowed for accounts created under this product.
If left empty:
When Allow all class codes is set to
No, no class codes are allowed.When Allow all class codes is set to
Yes, all class codes are allowed.
Note: This field is displayed only when the Allow all class codes toggle is set to No.
Default class code
Specifies the default class code used when opening an account under this product via the UI. If provided, it must be included in the Class codes list.
Note: This field is displayed only when the Allow all class codes toggle is set to No. This value is not used for validation or defaulting during account creation.
Link to class codes
The link provides access to the full list of Account class code rules and allows new class codes to be added if needed. To learn more, see Account class codes.
Interest
This section is visible when the banking mode is selected as CONVENTIONAL.
Allow all interest method assignment codes
Indicates whether all interest method assignment codes valid for the given organisational unit, account type, person type, and currency are allowed for accounts created under this product. If enabled, both Allowed interest method assignment codes and Default interest method assignment code must be left empty.
Allowed interest method assignment codes
The list of interest method assignment codes allowed for accounts created under this product.
If left empty and Allow all interest method assignment codes is disabled, no interest will be calculated.
If left empty and Allow all interest method assignment codes is enabled, all applicable interest method assignment codes from the relevant account type interest methods will be allowed.
Note: This field is displayed only when the Allow all interest method assignment codes toggle is set to No.
Default interest method assignment code
The default interest method assignment code used when opening an account under this product via the UI. If specified, it must also appear in the Allowed interest method assignment codes list.
Note: This field is displayed only when the Allow all interest method assignment codes toggle is set to No. This field is not used for validation or defaulting during account creation.
Link to interest methods
The link provides access to the Account type interest methods and allows new interest methods to be added if needed. To learn more, see Account interest.
Fees
Allowed price list customer groups
The list of allowed price list customer group codes for accounts created under this product. If not specified, all customer group codes defined on the ACCOUNT.PRICELIST lookup page, with CUSTOMER_GROUP selected as the lookup type, are allowed.
Default price list customer group
The default price list customer group code used when opening an account under this product via the UI. If specified, it must be included in the Allowed price list customer groups list.
Note: This field is not used for validation or defaulting during account creation.
Default price list type code
The default price list code used when opening an account under this product via the UI. It can be specified only if a Default price list customer group is provided, and must belong to one of the price lists under that group.
Note: This field is not used for validation or defaulting during account creation.
Link to customer groups
The link provides access to the full list of Account price list lookup codes and allows new lookup codes to be added if needed. To learn more, see Account group lookup codes.
Link to price list
The link provides access to the full list of Fee price lists and allows new price lists to be added if needed. To learn more, see Account price list.
Account numbering
BIC key
Specifies the BIC to be assigned to accounts created under this product.
Note: This field is optional and may be left empty.
Numbering sequence key
Specifies the numbering sequence to be used for accounts created under this product.
Note: This field is optional and may be left empty.
Link to BIC allocation rules
The link provides access to the full list of BIC allocation rules and allows new rules to be added if needed.
Link to numbering sequences
The link provides access to the full list of Numbering sequences and allows new numbering sequences to be added if needed.
Finance configuration
Link to GL accounts configuration
The link provides access to the GL accounts setup for account component rules and allows new rules to be added if needed.
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