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Transfer Savings Deposits to Another Client

How to transfer savings deposits to another client

To transfer savings you go to Savings/Transfer Savings to another client and as screen like the one below is displayed:

Note that transfer of portfolio can occur based on any of the following:

1. When a savings deposit was erroneously deposited on a different savings account.


2. When a savings deposit was erroneously deposited on a wrong savings product.

3. When a client wants to transfer a savings deposits within his savings product accounts for purposes of either making a loan guarantee or loan.

4. When credit officers leave an organisation, their loan and savings portfolios (caseloads) for monitoring purposes can be transferred / redistributed.

Note however that if you select/tick the savings deposit under the column "Transfer?" as seen below, then you can only transfer the whole selected amount without adjustment. The amount will appear on the transfer amount field in red colour and is read only.

Otherwise you can transfer all or some of the amount from the giver to the recipient from the highlighted savings balance of the giver if the transfer option is not ticked.

When the deposit to transfer is selected, the amount will appear on the transfer amount field in red colour and is read only

• From the account type drop-down list box select a transferring client account type, e.g., “Individual A/C No.” and then specify the account to transfer savings from, e.g., "KA/I/000001". You can also double click the account number textbox and select the account number from the list that is displayed.

When you specify the account to transfer from, the scroll window of the Transfer dialog is refreshed with the various transactions of that account.

• Select the client type being transferred to from the account type drop-down list box, e.g., "Individual A/C No." and also specify the corresponding account number to which transfers should be made, e.g., "KA/I/000008".
• Product: Select the product to transfer from in the product drop-down list box, e.g., “Free Savings”.
• To Savings: Select the product to transfer the savings to in the to savings drop-down list box, e.g., “Loan guarantee savings".
• Transfer Amount: Enter the amount to transfer in the transfer amount field, e.g., "250,000".

Note however that if you select/tick the savings deposit under the column "Transfer?" as seen below, then you can only transfer the whole selected amount without adjustment. The amount will appear on the transfer amount field in red colour and is read only.

Otherwise you can transfer all or some of the amount from the giver to the recipient from the highlighted savings balance of the giver if the transfer option is not ticked.

• Transfer Date: Enter the transfer date in the transfer date box, e.g., "/10/2020".
• Voucher: Enter the voucher number in this textbox, e.g., "223456".
• Description: Enter the particulars of the transfer,e.g., "Transfer to Ali Matovu".

Click on the OK command button to complete the transfer and the Close button to exit.

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