4.8 Close Out Withdrawal

The Close Out Withdrawal screen to initiate an account closure and close the CASA account by either dispersing the cash to the customer or by account transfer or by issuing Bankers Cheque.

The balance amount displayed is only the available balance from FLEXCUBE Universal Banking and Oracle Banking Branch does not consider the closeout withdrawal charges configured in FLEXCUBE Universal Banking. In case charges are required to be displayed in Oracle Banking Branch, Oracle Banking Branch also supports charges which can be configured.

To close the CASA account by either dispersing the cash to the customer or by account transfer or by issuing Bankers Cheque:

1. On the Homepage, from Teller mega menu, under Customer Transaction, click Close Out Withdrawal or specify Close Out Withdrawal in the search icon bar and select the screen.
   The Close Out Withdrawal screen is displayed.

   Figure 4-9 Close Out Withdrawal - New

   
   

   
   Description of "Figure 4-9 Close Out Withdrawal - New"

   
   
2. On the Close Out Withdrawal screen, specify fields. For more information on fields, refer to the field description table.

   Table 4-9 Close Out Withdrawal - New

   Field	Description
   Customer Account	Specify the account number for which the account closure to be requested. Note: The system displays an override or error message on the tab out of Account Number based on the account dormancy parameters.
   Account Name	Displays the name of the specified account number.
   IC Liquidate	Click this button to fetch the details of account amount.
   Account Amount	Displays the account balance in account currency.
   Narrative	Displays the default narrative Close Out Withdrawal and it can be modified.

3. Click Submit.
   A teller sequence number is generated, and the Transaction Completed Successfully information message is displayed.

   Note:

   The transaction is moved to authorization in case of any approval warning raised when the transaction saves. On transaction submission, it will verify if IC liquidation is completed for the account. Once the IC liquidation is done, the transaction details are handed off to the CASA module in the FLEXCUBE Universal Banking for the account closure process. During account closure process, the closure amount will be parked in the intermediary suspense GL specified during transaction request handoff.

   Maintain Close mode as CASH and linked product as ZRCD in Account Closing Maintenance (STDCLSMD) in FCUBS. This maintenance will ensure the funds are parked to the respective suspense GL during the account closure process at FCUBS.

4. Click Query.
   The Close Out Withdrawal - Query screen is displayed.

   Figure 4-10 Close Out Withdrawal - Query Transaction

   
   

   
   Description of "Figure 4-10 Close Out Withdrawal - Query Transaction"

   
   
5. On the Close Out Withdrawal screen, specify fields. For more information on fields, refer to the field description table.

   Table 4-10 Close Out Withdrawal

   Field	Description
   Transaction Reference Number	Specify the transaction reference number for which the closure is initiated.
   Customer Account	Displays the customer account number.
   Account Amount	Displays the account balance in account currency.
   Close Mode	Select the close mode from the following drop-down values: Account For more information, refer to Figure 4-11 Cash For more information, refer to Figure 4-12 Bankers Cheque For more information, refer to Figure 4-13
   Narrative	Displays the default narrative Close Out Withdrawal and it can be modified.

   Figure 4-11 Close Out Withdrawal by Account

   
   

   
   Description of "Figure 4-11 Close Out Withdrawal by Account"

   
   

   On the Close Out Withdrawal by Cash screen, specify the fields. For more information on fields, refer to the field description table.

   Table 4-11 Close Out Withdrawal by Account Transfer - Field Description

   Field	Description
   Transaction Reference Number	Displays the transaction reference number for which the closure is initiated.
   Close Account	Displays the customer account number. Note: The system displays an override or error message on the tab out of Account Number based on the account dormancy parameters.
   Account Amount	Displays the account balance in account currency.
   Close Mode	Displays the close mode as By Account.
   Credit Account	Specify the account number to which the funds need to be transferred during the account closure.
   Credit Account Branch	Displays the branch code of the offset account.
   Credit Account Name	Displays the name of the offset account.
   Credit Account Amount	Displays the offset account amount along with account currency.
   Exchange Rate	Displays the exchange rate based on the Account Currency and Offset Account Currency, and it can be modified. Note: This field is displayed only if Multi-Currency Configuration at Function Code Indicator level is set as Y.
   Narrative	Displays the default narrative as Close Out Withdrawal, and it can be modified.

   Figure 4-12 Close Out Withdrawal by Cash

   
   

   
   Description of "Figure 4-12 Close Out Withdrawal by Cash"

   
   

   On the Close Out Withdrawal by Cash screen, specify the fields. For more information on fields, refer to the field description table.

   Table 4-12 Close Out Withdrawal by Cash - Field Description

   Field	Description
   Transaction Reference Number	Displays the transaction reference number for which the closure is initiated.
   Customer Account	Displays the account number for which the account closure is to be requested. Note: The system displays an override or error message on the tab out of Account Number based on the account dormancy parameters.
   Account Amount	Displays the account balance in account currency.
   Close Mode	Displays the close mode as By Cash.
   Transaction Amount	Specify the currency in which the customer requested the cash. The system displays the derived transaction amount based on the exchange rate fetched using account currency and transaction currency. The transaction amount is the account amount deducted with total charges. Note: This field is displayed only if Multi-Currency Configuration at Function Code Indicator level is set as Y.
   Exchange Rate	Displays the exchange rate based on the account currency and offset account currency. Note: This field is displayed only if Multi-Currency Configuration at Function Code Indicator level is set as Y.
   Narrative	Displays the default narrative as Close Out Withdrawal, and it can be modified.

   Specify the denomination details. For information on the fields in the Denomination Details segment, refer to Add Denomination Details.

   Figure 4-13 Close Out Withdrawal - Bankers Cheque

   
   

   
   Description of "Figure 4-13 Close Out Withdrawal - Bankers Cheque"

   
   

   On the Close Out Withdrawal by Bankers Cheque screen, specify the fields. For more information on fields, refer to the field description table.

   Table 4-13 Close Out Withdrawal by Bankers Cheque - Field Description

   Field	Description
   Transaction Reference Number	Displays the transaction reference number for which the closure is initiated. Note: The system displays an override or error message on the tab out of Account Number based on the account dormancy parameters.
   Account Number	Displays the account number for which the account closure is to be requested.
   Account Amount	Displays the account balance in account currency.
   Close Mode	Displays the close mode as By Bankers Cheque.
   Issue Branch	Displays the issuing branch of the banker's cheque.
   BC Amount	Displays the account currency and account balance. You can also modify the account currency.
   Instrument Number	Specify the instrument number.
   MICR Number	Specify the MICR number.
   Payee Name	Specify the payee name.
   Address Line 1 to Address Line 4	Specify the address of the payee.
   Exchange Rate	Displays the exchange rate used to convert the transaction currency into account currency, and it can be modified. Note: This field is displayed only if Multi-Currency Configuration at Function Code Indicator level is set as Y.
   Narrative	Displays the default narrative as Close Out Withdrawal, and it can be modified.

   Specify the charge details. For information on the fields in the Charge Details segment, refer to Add Charge Details.