Lock a savings account.

Created by Judy Macharia, Modified on Sun, 24 Sep, 2023 at 8:27 AM by Judy Macharia

Any deposit account in the state Active or Active in Arrears can be locked.

Locked accounts will not allow for any transactions and won't charge or collect interest for the time they remain locked.

To lock an account:
Navigate to the active deposit accounts:

Select the member

Choose the specific deposit account account

Click on “More” on the bottom right navigation menu

Click on lock deposit account - add any optional notes/narrative

Then Click on change status - The account will be locked and will not allow for any transactions. It also won't charge or collect interest for the time they remain locked
To unlock an account: click on More Actions > Unlock Deposit Account > Change State.

When an account is unlocked, it goes back to the state it was in before being locked. So if it's an overdraft account, for instance, and it was in arrears, when it's unlocked its state will still be Active in Arrears.