Add a savings account

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Prerequisites

The interest plan that you want to use must already exist on the Pismo platform. For more information, refer to Manage interest plans.

To add a savings account:

1. From the main menu, select Setup > Deposit products.
2. On the Deposit products screen, select Create.
3. On the Select Deposit product type screen, select Savings account and select Next.
4. On the Create your savings account product screen, enter a descriptive name for the product in the Name field.
5. In the Interest plan menu, select the interest plan that you want to use and select Next.
6. On the Attach processing codes screen, enter the processing codes (by name or by ID) to be used in the following cases:
   1. Interest processing code: Used for crediting accrued interest to this product.
   2. (Optional) Withholding tax processing code: Used for calculating tax withholding for this product.
7. Select Next.
8. On the Review screen, verify that the information you provided is correct, then select Finish.

The savings account is created with the status Created. Is is not available for use until it is activated.

16. (Optional) To activate the savings account, do the following:
    1. On the Deposit products screen, select the deposit product you just created.
    2. On the Savings account details screen, select the status button and choose Active.
    3. In the Update status dialog, enter a reason for the change and then select Yes.