In the previous unit, we learned about bank directories, house banks, and bank master data. But how does this affect the overall lifecycle of a bank account? Let's look at opening and closing bank accounts.
Watch this video to learn how to:
• Use the Manage Bank Accounts app to close an active account.
• Use the Manage Bank Accounts app to reopen a closed bank account.
Select the play button below.
The video details how to close or reopen a bank account through the Manage Bank Accounts app. To start the closing process, select one of the following options:
- Mark for closing
- Confirm closing at the bank
- Sending a closing request to the bank
After an account is closed at the bank, finalize the process.
Only active accounts can be closed, but you can reopen previously closed accounts through the same app. To begin the reopening process, select one of the following options:
- Change Back to Active
- Reopen at Bank