Savings Pockets

The Savings Pockets page allows you to create and manage savings pockets linked to a customer's existing account. A savings pocket is a sub-savings goal such as an AutoSave or Frequent Savings plan, funded from a source account, with its own target amount, savings frequency, and maturity date. This section walks you through accessing the Savings Pockets page, creating a new savings pocket, and managing existing ones.

Accessing The Savings Pockets Page

1. Log into the application using your credentials.

2. From the dashboard, navigate to Accounts in the side menu.

3. Select Savings Pockets from the dropdown list.

Create A Savings Pocket

To create a new savings pocket for a customer:

1. Click the Add button at the top of the list page.

2. Enter the Customer ID, Account Number, or Account Name to search for the customer's account.

3. Click Search.

4. Review the Account Summary; this displays the Account Name, Account Number, Product Name, NUBAN, Branch, Account Status, Ledger Balance, Available Balance, Withdrawable Balance, Overdraft Limit, and Account Officer.

5. Select the Fund Source/Liquidation Account the pocket will be funded from.

6. Select the Savings Pocket Type (e.g. AutoSave Savings).

7. Select the Product the pocket will be linked to.

8. Enter the Flex Saving Name for the pocket.

9. Enter the Percentage of spent amount to be saved.

10. Select the Start Date for the pocket.

11. Click Submit.

12. Click the "Yes, I want to proceed" button on the confirmation prompt to create the savings pocket.

📌Note: The fields shown in steps 8-10 may vary depending on the Savings Pocket Type selected.

Search Savings Pockets

To search for a specific savings pocket, enter an account number in the Search account number field at the top of the list page.

📌Note: You can also use the Filter button for more advanced search criteria, and Reset Filter to clear any filters applied.

Modify A Savings Pocket

To modify an existing savings pocket:

1. In the Actions column, click the three vertical dots (⋮) next to the savings pocket you wish to edit.

2. Select Modify from the dropdown menu.

3. In the Edit Savings Pockets panel, update the necessary field

4. Click Update.

5. Click the "Yes, I want to proceed" button on the confirmation prompt to save the changes.

View A Savings Pocket

To view the details of an existing savings pocket:

1. In the Actions column, click the three vertical dots (⋮) next to the savings pocket you wish to view.

2. Select View from the dropdown menu.

3. The View Savings Pockets panel displays the pocket's details, including Fund Source/Liquidation Account, Savings Pocket Type, Product, Frequent Saving Name, Frequent Amount at Maturity, Frequent Saving Frequency, Interest Rate, Duration (in days), Start Date, End Date, and Estimated Savings Amount.

Deactivate A Savings Pocket

To deactivate an existing savings pocket:

1. In the Actions column, click the three vertical dots (⋮) next to the savings pocket you wish to deactivate.

2. Select Deactivate from the dropdown menu.

3. Click the "Yes, I want to proceed" button on the confirmation prompt to deactivate the pocket.

Liquidate A Savings Pocket

1. In the Actions column, click the three vertical dots (⋮) next to the savings pocket you wish to liquidate.

2. Select Liquidate from the dropdown menu.

3. Review the Liquidation Account Summary: Savings Name, Frequent Account Number, Product Name, Available Balance, Withdrawable Balance, Ledger Balance, and Account Status are auto-populated and read-only.

4. Select a Liquidation Type: Full Liquidation or Part Liquidation. This field is required.

5. Review Accrued Interest, Penalty, Interest To Be Paid, and Total Amount To Withdraw.

6. Click Liquidate.

7. Confirm the action by clicking "Yes, I want to proceed."

Filtering Account Officer Records

1. Click the Filter button at the top right of the page

2. Enter your preferred filter criteria

3. Click Apply to display the filtered results