Determining Bank Details

Each automatic payment specifies the details of the bank account, from which funds will be withdrawn. Depending on business rules, bank account details can be captured on Person, Account or Tax Role. Current base logic supports capturing the details on the Account level, i.e. via Account — Auto Pay.

The Bank Details Determination algorithm on the Installation Record is used to retrieve the currently effective bank details that are used for an automatic payment. When called in ‘Read’ mode, this algorithm returns bank details such as Bank Account Number, Bank Routing Number, Account Name, Bank Account Type, etc.

The algorithm can optionally return the following, if applicable:

The algorithm that is supplied with the base package assumes that the bank details are stored in Account — Auto Pay. For more information, go to Installation Options - Algorithms and scroll to the Bank Details Determination system event.