Deposit Account Lifecycle

To become operational, a deposit account goes through a life cycle consisting of three stages. These stages contain specific actions and operations that must be completed. Until the deposit account completes this cycle, it only exists in the database and cannot be used for transactions.

The deposit account lifecycle includes:

Account Creation
Approval
Activation

As illustrated in the table below:

Account status	Actions	Description
Account Creation	Approve account	Account approved; awaiting activation.
	Modify Account	Make changes to the account information.
	Unassign staff	Unassign an assigned staff within your organization.
	Reject Account	Reject or deny account creation application.
	Withdrawn by client	Account creation is canceled by the customer.
	Add charge	Add charge to the account.
	Delete Account	Account application canceled
Approve	Undo Approval	Cancel or reverse account approval.
	Activate	Account active and available to use
	Reject	Reject or deny account approval.
	Withdrawn by Client	Account creation is canceled by the customer.
	Add Charge	Add charge to the account.
	Delete Account	Canceled account application.
Activate	Unassign staff	Unassign an assigned staff within your organization.
	Post interest	Add earned interest to the account.
	Add charge	Add charge to the account.
	Generate statement	Generate account statement
	Transfer funds	Perform fund transfer
	Block account	Temporarily suspend account
	Activate PND	Temporarily restrict account

Note that every action taken will affect the status of the customer's account. It's important to note that your account status may also revert to its previous state. For instance, if you choose to undo an approval, an approved account may become pending approval again.