1.9 Checking Account Preferences

This topic describes the section where you can specify your service preferences.

This step enables you to enhance the features of the business account that is being applied for. You can specify preferences related to services that you would like the account to have, which could include Debit Card, Passbook, Cheque Book, access to Direct Banking and Phone Banking, etc. You can also select the currency in which you wish your account to be held and define account statement preferences such as the account statement mode and frequency. A business checking account might also come with the additional feature of Overdraft. In this case, if overdraft is enabled for the product, the option to apply for overdraft and subsequently to specify the required overdraft limit amount will be provided on this page.

Figure 1-18 Checking Account Preferences

Description of "Figure 1-18 Checking Account Preferences"

Note:

The fields which are marked as Required are mandatory.

For more information on fields, refer to the field description table.

Table 1-19 Checking Account Preferences - Field Description

Field Name	Description
Activity Profile & Specifications
Preferred Currency	The currency in which you wish to hold your business Checking account.
Apply for Overdraft	Specify whether you wish to utilize the overdraft facility available for this account type. The options are: Yes No
Overdraft Limit Amount	Specify the overdraft amount you wish to apply for. This field will be displayed if the option Yes has been selected in the Apply for Overdraftfield.
Account Statement Mode	Specify the mode through which you would like the account statement to be delivered. The options are: Email Physical
Statement Frequency	The frequency at which you would like to receive account statements. The options are: Monthly Quarterly Bi Annual Annual
Optional Services
Service /Feature	Each service that has been configured for the product you are applying for will be listed here. Select the check box against the service that you wish to enable on your account.

1. From the Preferred Currency list, select the currency in which you wish your account to be held.
2. In the Apply for Overdraft field, specify whether to utilize the overdraft facility for this account type or not.
   1. If you select Yes option;
      1. In the Overdraft Limit Amount field, enter the overdraft amount you wish to apply for.
3. In the Account Statement Mode field, select the desired option.
4. From the Statement Frequency list, select the desired frequency at which you wish to receive account statements.
5. Select the checkbox against any service that you wish to have enabled on your account under the Optional Services sub section.
6. Perform one of the following actions:
   • Click Continue to proceed to the next step in the application.
   • Click Back to navigate back to the previous step in the application.
   • Click on the Skip this Step link. This option will only be provided, if this step is optional for the product for which the application is being made.

     The next step in the application will be displayed.

   • Click on the Scan QR-code anytime to continue on mobile link to continue the application on mobile or tablet device.
   • Under the kebab menu, perform one of the following actions:
     • Click the Save and Continue Later option to save the application.
     • Click the Continue on Mobile option to continue the application on a mobile device.