1.17 Fund Your Account (Post Account Opening)

This topic describes the steps involved in funding the newly opened savings account through the Fund Now option provided on the confirmation page of insta-savings account applications.

If you select the Fund Now option, you will be guided to a page on which you will provided with options to proceed with the funding. If you are a new to bank customer the options will be to Fund using Finicity and fund through Other Payment Modes. In case you are an existing customer of the bank and hold active savings or checking accounts with the bank, you will be provided with an additional option to fund using Own Internal Transfer.

Alternately, you can also opt to fund your savings account later.

Note:

The bank will need to procure the required licenses in order to support Finicity integration.

Figure 1-27 Fund Your Account screen (Applicable when the Primary Applicant is new to the bank i.e. a prospect)

Description of "Figure 1-27 Fund Your Account screen (Applicable when the Primary Applicant is new to the bank i.e. a prospect)"

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

Table 1-23 Fund your Account - Field Description

Field Name	Description
Initial Deposit Amount	Specify the amount to be deposited in the account. The Initial Deposit Amount should be greater than the Minimum amount specified below this field.
Minimum amount	Displays the minimum amount that is to be funded.
Select Payment Method	This section will display the payment options available to you to fund your newly opened account.
Fund Using Finicity	Select this option to fund the account via an external domestic bank account.
Other Payment Methods	Select this option to fund the account through other means such a debit or credit cards or other payment gateway options.
Make Payment	Click this button to proceed to fund the account via the selected mode.
Skip Payment	Click this button if you do not wish to fund the account right away.

1. In the Initial Deposit Amount field, enter the amount in USD to be deposited in the account.
   Perform any of the following actions:
   1. If you wish to fund the account via an external domestic bank account, select the Fund Using Finicity option and click Make Payment;
      The Finicity interface is loaded with steps guiding you to select the bank in which your account is held, login to that bank and select the account to be debited.

      Note:

      Finicity only provides the means by way of which you can securely select your external domestic account and will also verify the external account. The actual debit of funds will take place from the host system where this account information is passed.
   2. b. If you wish to fund the account via an external payment gateway select the Other Payment Methods option and click Make Payment;
      The payment gateway page will be opened on which you can select the mode through which you can fund the account. Please refer Figure 1-25 Payment Gateway screen for an example of how the payment gateway screen might appear.
   3. If you have selected the Skip Payment option, this screen will be closed and you will be navigated to the bank’s portal page.

   Figure 1-28 Fund Your Account screen (Applicable when the Primary Applicant is an existing customer)

   
   

   
   Description of the illustration fund-your-account-screen-applicable-when-primary-applicant-is-existing-customer.png

   
   

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

   Table 1-24 Fund your Account - Field Description

   Field Name	Description
   Initial Deposit Amount	Specify the amount to be deposited in the account. The Initial Deposit Amount should be greater than the Minimum amount specified below this field.
   Minimum amount	Displays the minimum amount that is to be funded.
   Select Payment Method	This section will display the payment options available to you to fund your newly opened account.
   Own Internal Transfer	Select this option to fund the account via a savings or checking account that you hold with the bank.
   Fund Using Finicity	Select this option to fund the account via an external domestic bank account.
   Other Payment Methods	Select this option to fund the account through other means such a debit or credit cards or other payment gateway options.
   Account Number	This field will be displayed if you have selected the Own Internal Transfer option. Select a savings or checking account from which you wish to transfer funds to credit the newly opened savings account.
   Make Payment	Click this button to proceed to fund the account via the selected mode.
   Skip Payment	Click this button if you do not wish to fund the account right away.

2. In the Initial Deposit Amount field, enter the amount in USD to be deposited in the account.
   Perform any of the following actions:
   1. If you wish to fund the account via a savings or checking account you hold with the bank, select the Own Internal Transfer option.
      1. From the Account Number list select the CASA account from which funds are to be transferred to the new account.

         Note:

         This option will only be provided if the primary applicant is an existing customer of the bank.
      2. Click Make Payment.

         A confirmation message will appear along with the payment reference number.

   2. If you wish to fund the account via an external domestic bank account, select the Fund Using Finicity option and click Make Payment;
      1. The Finicity interface will be loaded with steps guiding you to select your bank and login to select the account you wish to have debited to transfer funds to your new savings account.

         Note:

         Finicity only provides the means by way of which you can securely select your external domestic account and will also verify the external account. The actual debit of funds will take place from the host system where this account information is passed.
   3. If you wish to fund the account via an external payment gateway select the Other Payment Methods option and click Make Payment;
      The payment gateway page will be opened on which you can select the mode through which you can fund the account. Please refer Payment Gateway screen for an example of how the payment gateway screen might appear.
   4. If you have selected the Skip Payment option, this screen will be closed and you will be navigated to the bank’s portal page.

• Fund Using Finicity
  This topic describes the process through which you can select as external account to fund the new account.