Transfer Funds moves money from one account to another inside Symba Microbanking. It can be used from an active savings account, or from an overpaid loan account when the overpaid amount should be moved to another account.

When to use Transfer Funds

• Move available savings balances from one savings account to another savings account
• Move available savings balances to a loan account
• Move the credit balance from an overpaid loan to a savings account

Prerequisites

• The user is authorized to transfer funds
• The source savings account is active and has sufficient available balance, or the source loan account is overpaid
• The destination account is available for selection in the transfer form

Transferring funds from a savings account

• Navigate to the savings account you want to transfer funds from
• Click the button in the account actions area
• Select "More" → "Transfer Funds"
• Fill in the transfer details:
  • Office: Select the office where the destination client is registered
  • Client: Search for the destination client by typing their name, then select from the results
  • Account Type: Choose the type of destination account
  • Account: Select the specific destination account
  • Transaction Date: Set the date of the transfer
  • Amount: Enter the amount to transfer
  • Description: Enter a description for the transfer
• Click "Submit" to process the transfer

Transferring funds from an overpaid loan

• Navigate to the overpaid loan account
• Click the button in the loan actions area
• Select "Transfer Funds"
• Choose the destination account and complete the transfer details
• Click "Submit" to process the transfer

The transfer is processed immediately. The source account transaction history shows the outgoing transfer, and the destination account transaction history shows the incoming transfer.

Related Topics

• Overpaid Loans - Understand why loans become overpaid and how to clear them
• Standing Instructions - Automate recurring transfers between accounts
• Savings account overview