Opening and managing savings accounts
Application, approval, activation, dormancy and closing — with the status flow.
Open an account
- Open .
- Choose the member (or group) and the savings product.
- Confirm the opening balance and lock-in (they default from the product).
- Enter the submitted on date and save.
- Approve the account, then activate it — only active accounts accept deposits.
| Field | Required | What it means |
|---|---|---|
| Member / group | required | The account holder. |
| Savings product | required | Rules for the account. |
| Opening balance | required | From the product; adjust if allowed. |
| Lock-in period + type | required | From the product. |
| Submitted on date | required | Date of the application. |
Account statuses
Submitted→Approved→Active→Closed
| Status / action | Meaning | Undo |
|---|---|---|
| Rejected | Application declined | Undo rejection |
| Withdrawn | Member withdrew the application | Undo withdrawal |
| Inactive | Account temporarily stopped | Undo inactive |
| Dormant | No activity for a long period — check identity before allowing withdrawals | Undo dormant |
| Closed | Account closed after paying out the balance | Undo close |
Other account actions
- Change savings officer — move the account to another officer.
- Transfer — move money from this account to another of the member’s accounts (for example to repay a loan).
- Withdrawal requests — members’ requests (e.g. from the app) wait in the applications list for approval.
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