How to reach here:
Using this option, Bank AdministratorAdministrator is a set of individuals that administer the applicant/Affiliate entity. For example, Accountants, Authorized Signatories for organizations, Power of Attorney for individuals. can create and maintain wallet products that are made available for the business users. When a business user applies for a wallet product and the application is processed successfully, a wallet account will be created for the user.
How to reach here:
Admin Dashboard > Wallet
Field Description
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Field Name |
Description |
|---|---|
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Offer Code |
The unique code/ Id for the wallet product. |
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Offer Name |
Name of the wallet product that is being offered. |
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Currency |
CurrencyA generally accepted form of money, including coins and paper notes, which is issued by a government and circulated with in an economy. applicable for the wallet product. |
|
Interest |
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Interest Applicable |
Indicates whether the interest is applicable for the wallet product or not. |
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Interest Rate |
The interest rate applicable for the wallet product. |
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Accrual Frequency |
The frequency in which interest is to be accrued |
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Capitalization Frequency |
The frequency in which interest is to be capitalized |
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Capitalization Basis |
The method in which interest is to be capitalized |
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Fees |
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Fees Applicable |
Whether fees is applicable for the wallet product or not. |
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Fees |
The amount of fees that is to be applied for the wallet product. |
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Charging Basis |
The basis on which the fees should be charged. The options can be:
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Charging Frequency |
The frequency in which the fees should be charged. The options can be:
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Statement |
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Statement Required |
Whether a statement for the wallet account is required or not. |
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Statement Frequency |
The frequency in which the statement is to be made available. The options can be:
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GL |
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Walletz GL Code |
The liability GLGeneral Ledger is bank’s accounting records. The formal ledger contains all details of financial accounts with records of debits and offset credits. account that will be associated with all wallet accounts. |
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Intermediary GL Code (Receive funds) |
The intermediary GL account into which funds will be initially credited whenever any wallet account associated with the product is due to receive funds. |
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Intermediary GL Code (Transfer funds) |
The intermediary GL account from which funds are debited whenever any fund transfer is to be made from a wallet account associated with the product. |
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Node GL Code (Liability) |
The GL account in which all credit balances of wallet account associated with the product are consolidated. |
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Node GL Code (Asset) |
The GL account in which all debit balances of wallet accounts associated with the product are consolidated. |