Overview
This page helps you understand how to add a new bank account in the Finvisage application. As part of the process, you need to add the new bank account details on the New page. You can access this New page by clicking the Menu icon on the Bank Account page. Once the details are entered and saved, the new bank account is added.
Apart from adding a new bank account, you can also update an existing bank account by making any changes and also deactivate or activate it depending on the requirement.
Adding a Bank Account
1. On the Side Panel of Finvisage application, click Settings.
The Settings menu is expanded.
2. On the expanded Settings menu, click Bank Account.
The Bank Account page is displayed.
3. On the Bank Account page, click the Menu icon at the right bottom of the page to view the Add button, and then click it.
The New page is displayed.
4. On the New page, enter the new bank account details as shown in the below table:
Entering Bank Account Details
| Field | Instruction |
| Entity | From this drop-down box, select the Entity. Note: If you don't find the entity which you are looking for, then you need to add that entity in the Entity setting. For help on how to add a new entity, click here. Note: Selecting an entity is mandatory. |
| Counter Party | From this drop-down box, select the Counter Party. Note: If you don't find the counterparty who you are looking for then you need to first add that counterparty in the Counterparty setting. For help on how to add a new counterparty, click here. Note: Selecting a counter party is mandatory. |
| Status | From this drop-down box, select the bank account Status choosing from Active or Inactive. Note: Selecting the status is mandatory. |
| Account Number | In this field, enter the Account Number. Tip: The Account Number refers to the loan account number or other operational bank account provided by the bank from whom the NBFC has borrowed. Note: Filling this field is mandatory. |
| Currency | From this drop-down box, select the Currency. Note: Selecting the currency is mandatory. |
| IFSC | In this Field, enter IFSC Code of the Bank. Note: Filling this field is mandatory. |
| Branch Address | In this box, enter the Branch Address of the bank. Note: Filling this field is mandatory. |
| Other Info | In this field, enter the Other Information, if any. |
5. After filling all the above details, click the Create button at the bottom of New page.
The bank account is added.
Updating a Bank Account
You can make any change to a bank account and update it on the Edit page. For example purpose, in this section, we will show how to change the currency from EUR to INR.
To update a Bank Account
1. On the Side Panel, click Settings, and then click Bank Account.
The Bank Account page is displayed.
2.On the Bank Account page, click the Edit button corresponding to the Bank Account, which you wish to edit.
The Edit page is displayed.
3. On the Edit page, make the desired changes. For example, change to the currency from EUR to INR. See the image below.
4. After making the required changes, click the Update button at the bottom.
The Bank Account was successfully updated message is displayed. See the image below.
Deactivating an Active Bank Account
If required, you can make an active bank account inactive on the Bank Account page. The following instructions show you how to do this:
To deactivate an active Bank Account
1. On the Side Panel, click Settings, and then click Bank Account.
The Bank Account page is displayed.
2.On the Bank Account page, click the Activation button corresponding to the Bank Account, which you wish to deactivate.
The Are you sure? message box is displayed.
3. On the Are you sure? message box, click the OK button.
The Bank Account was successfully updated page is displayed and the bank account's status is displayed as Inactive. See the image below.
Activating an Inactive Bank Account
If required, you can again activate an inactive bank account on the Bank Account page. The following instructions show you how to do this:
To activate an inactive Bank Account
1. On the Side Panel, click Settings, and then click Bank Account.
The Bank Account page is displayed.
2.On the Bank Account page, click the Activation button corresponding to the Bank Account, which you wish to activate.
The Are you sure? message box is displayed.
3. On the Are you sure? message box, click the OK button.
The Bank Account was successfully updated page is displayed and the bank account's status is displayed as Active.