3.4 Account Creation

Each account that you define is identified by an account number. The Account Number can be a combination of the CIF Number, the Account Class, the Currency, and any other alphabet/s or number/s of the account or currency as defined.

For the account number, you also need to define other parameters such as Account category, the primary currency in which transactions can be sent to this account, Customer’s name, and so on.

Authorization is required to activate the created or modified account. Whenever a new customer account is created or an existing record is modified, the system generates a notification message of the authorized record.

Account Number - The user can specify the account number of the customer. A single customer can have any number of accounts. The structure of the account number is defined in the customer account mask, which is maintained in the Account Parameters under Branch Parameters. The account number can be a combination of the account class, customer code (CIF number), serial number, or currency as defined in the Customer Account mask screen. The last part of the account number is always a system-generated check digit (which can be alpha or numeric depending on the mask defined). You cannot change the relative position of the customer account constituent (defined in the mask) while maintaining the actual customer account.

Customer Number - To create an account, you must enter the CIF number of the customer creating the account. All valid customer codes is displayed in the adjoining option list. You can select the required one.

If the CIF number is a part of the account mask, the specified CIF must be part of the account number depending on the length of the CIF in the mask. If you entered the CIF Number of the customer as part of the Account mask screen, the system automatically defaults the CIF code of the customer in the appropriate field. You can change this code.

However, if you have specified in the Account mask in the Bank Parameters screen, that the CIF number should not be included in the account mask, then you must manually specify the customer code. A list of all valid customer codes appear in the list of available options. You can select the appropriate one.

Customer Name - The customer's name is displayed based on the CIF ID entered in the Customer Number field.

Primary Currency - You must specify the currency of your customer account. A list of all the currencies maintained by the system appears in the available list. You can select the currency of transaction for each account.

This topic contains the following subtopics:

• Account Creation
  This topic describes the systematic instructions to create an account for an existing customer.