Fund transfer.

Created by Judy Macharia, Modified on Sun, 24 Sep 2023 at 08:26 AM by Judy Macharia

You can make transfers from a deposit account to another deposit or loan account, including deposit accounts on overdraft balance.

  • Navigate to the active deposit accounts:

  • Select the member

  • Choose the specific deposit account account belonging to the guarantor where you wish to repay the loan from: 

  • Click on the “transfer” button on the right menu side

  • In the “To” field select whether the transfer is to the same member or a different member account. If it’s a different member, choose the option “Another client” (If it was to the same member you would choose the member’s name)

  • Choose the member’s name who you wish to repay a loan to in the “To client” field (you can search by either member number, member ID, member name)

  • Choose the recipient’s member account to receive the amount (can be either a savings or a loans account) and enter the amount.

  • Add any optional notes for the reason for the fund transfer. Then click on the “Make transfer” button

  • The above process is similar for:

  • Repaying a loan from a member’s own savings account

  • Transferring an amount from a member’s savings account to another savings account belonging to the same member or a different member

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