Introduction to Accounts

This module describes the Account utilities.

Negotiable Deals

Tellers handle transactions in a single currency or multiple currency environments, leading to financial transactions that are prone to errors and risks. As an efficient way to manage such errors, policies by the banks are being set to have more control on the occurrence of Forex risks.

This user guide deals with negotiable references that are generated whenever cross currency transactions are involved.

1. If the negotiable deal is allowed below the ceiling amount defined in the CURRENCY application.
2. If the negotiable deal is customer specific.

3. If the negotiable deal is allowed for cross currency or not.

Furthermore, the user guide also explains how the special rates that are granted by the treasury department to privileged customers can be captured under a negotiable reference and how the same can be utilized during teller transactions.

Account Numbering

Automatic generation of account numbers has become a basic feature of any banking solution, as a way to unify the bank’s customized account numbering structure and to avoid any issue that might arise from manually inputting the account numbers. Moreover, normally account numbers are created based on an algorithm or by means of special inputs decided by the bank.

This guide explains the steps involved in the automatic generation of account numbers using the account numbering logic as per the Lebanese banking practice.

Chequebook Issuance

Cheques are the most important medium used for non-cash payments because of their low processing cost and simplicity of use. Chequebooks generally contain 5 to 150 detachable blank checks depending on the customer or country requirements and are issued by banks to holders of saving and current Accounts.

This guide briefly explains the steps involved in issuing a chequebook, printing of chequebooks and sending to branch, in addition to its cancellation.

Account Statements

Account statement is a periodic summary of account activity with a start and end date. Entries are listed in transacted date sequence and may show both transaction date and value date. Moreover, bank statements are typically printed on paper and mailed directly to the account holder.

This guide briefly explains the account statements requirements configured for Lebanon Model Bank:

• Statement generation for a defined frequency.
• Postal address update.
• Preferred address.
• Statement generation.
• Resume or suspend generation.

Standing Order

Standing order is an instruction, a bank account holder (the payer) gives to his/her bank to pay a set amount at regular intervals to another person’s (the payee's) account. The instruction is sometimes known as a banker's order.

This guide briefly explains the standing order’s requirements configured for Lebanon Model Bank.

Passbook

Passbooks are the booklets issued by banks to record the transactions executed in an account. Moreover, the passbooks are generally issued for a savings account, where the number of transactions are predominantly less compared to a current account. This guide briefly explains the passbooks’ requirements configured for Lebanon Model Bank, including the passbook stock management.

Ensuring that the same series of passbooks is not allowed to other branches.

Charges Based on AA Products

The requirement is to define the charges for the various services depending on the type of account. Charges can be standard or preferential; moreover, banks usually offer concessional offers and package products to attract customers and to stay competitive in the market. Some offerings include either free or reduced charges, which can be availed by the customer choosing these packages.

This guide briefly explains the charges on AA Accounts’ requirements configured for Lebanon Model Bank, including:

• The definition and execution of charges and preferential charges booked for the various services depending on the type of account.