Direct Deposits Using Bank Events

The Bank Event object can be used for processing direct deposits or refunds.

Base-package overpayment processing functionality supports the ability to issue refunds using bank events. An Overpayment Process Type can be configured to create bank events, by specifying a Bank Event Type. Refund creation logic can then check that configuration to determine whether or not to create a bank event.

The base-supplied business object C1-OvrpyProcStandard includes refund processing using bank events, when applicable. Refer to this business object’s description and the online help for Overpayment Processing for more details.
Fastpath: Refer to The Big Picture of Overpayments for more details on overpayment processing.

A direct deposit bank event typically triggers the financial effect of the overpayment/refund on the related obligation’s balance. An Adjustment can be created when the direct deposit is extracted or accepted, depending on the business rules.