1.10 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 account you are applying for. You can provide your preferences related to services you would like on your account 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 delivery mode and frequency.

In the case of joint application forms, you can specify the optional services as preferred by each applicant separately. Additionally, if applying for a joint account, you will also be required to specify information regarding how the account is to be operated.

Figure 1-16 Checking Account Preferences

Description of "Figure 1-16 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 1-16 Checking Account Preferences - Field Description

Field Name	Description
Activity Profile & Specifications
Apply for Overdraft	Specify whether you want to apply for overdraft facility or not. The options are: Yes No
Overdraft Limit Amount	The amount of overdraft limit to be requested. This field is enabled only if the option Yes has been selected in the Apply for Overdraft field.
Statement Frequency	The frequency at which you would like to receive account statements. The options are: Monthly Quarterly Bi Annual Annual
Optional Services	In case of joint application forms, there will be two sub sections to capture each applicant’s preference with regards to the optional services offered against the account. In this case the sub sections will be titled as Primary Applicant – Optional Services and Joint Applicant – Optional Services respectively.
Service	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 the applicant wishes to enable on the account.
Account Operation Mode	This sub section will be displayed only in the case of joint applicant application forms.
Mode of Operation	The available modes of operation by way of which the account will be operated. The options are – Jointly Either or Survivor Anyone or Survivor Former or Survivor As per Mandate
The following fields will be displayed per record if the option As per Mandate has been selected as Mode of Operation.
Amount From	Specify the minimum amount of the amount range for which the mandate is to be set up.
Amount To	Specify the maximum amount of the amount range for which the mandate is to be set up.
Required Signatories	Specify the required number of signatories for the specific amount range. The options are – Anyone Both
Add another Mandate	Select this option if you wish to add another mandate record.
Activity Profile	The fields (including type of field and values, in case of dropdowns) displayed under this sub section can change based on mid-office maintenances for the product. The fields described below serve as examples of fields that can appear under this sub section.
Preferred Currency	The currency in which you wish to hold your savings account. The currency will be defaulted to USD. If other currencies are supported, you will be able to edit this selection.
Source of Funds	Specify the primary source of funds that will be used to debit this account. The options can be: Pension Income Rent Alimony
ATM Transactions in a month	Specify the approximate number of transactions (domestic as well as international) expected to be performed in this account, in a month. The options can be: 10-20 >20 0-10
Domestic Transactions in a month	Specify the approximate number of domestic transactions expected to be performed in this account, in a month. The options can be: 0-5 5-10 >10
Purpose of account	Specify the purpose for which this account is being opened. The options can be: Salary Savings Investment
Expected Foreign Wire Activity	Specify whether you expect funds from foreign countries to be transferred to this account. The options are: Yes No
Expected Annual Volume of Transactions	Specify the expected annual volume of transactions. The options can be: >5000 >2000 >500
Courtesy Overdraft	Specify whether Courtesy Overdraft facility is required or not. The options are: Yes No
Choose which one you wish to opt in for Courtesy OD	Specify the channel through which you wish to opt-in for courtesy overdraft. The options can be: POS ATM This field is enabled only if the Yes option is selected in the Courtesy Overdraft field.

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, select the desired option.
   1. If you select the option Yes;
      1. In the Overdraft Limit Amount field, enter the amount of overdraft limit to be requested.
3. From the Statement Frequency list, select the desired frequency at which you wish to receive account statements.
4. Select the checkbox against any service that the respective applicant wishes to have enabled on the account.
5. Select the desired Mode of Operation from the provided options.

   Note:

   The Account Operation Mode sub section and this field is displayed only in case of Joint Applications.

   Perform the following action:

   • If you select theAs per Mandate option;
     1. In the Amount From field, enter the minimum amount of the amount range for which the mandate is to be set up.
     2. In the Amount To field, enter the maximum amount of the amount range for which the mandate is to be set up.
     3. From theRequired Signatories list, select the required number of signatories for the specific amount range.

     Note:

     1. Click Add another Mandate to add another mandate record.
     2. Click the
        
        
        
        icon against a mandate record to delete the specific record.
6. Under the Activity Profile section, select options or enter values are desired.
7. 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.