Draw Account Sequencer

By Fiserv

The Draw Account Sequencer DNAapp systematically sets up a default draw sequence for checking minors with the ability to add the functionality to new checking products as needed.

App Type

Platform

DNA

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The Draw Account Sequencer DNAapp systematically sets up a default draw sequence for checking minors with the ability to add the functionality to new checking products as needed.

For new accounts that do not have a User Field of ‘DRSQ – Draw Sequence’ within the minors specified in the runtime parameters for Personal Checking Minors and Business Checking Minors, this app will insert User Field ‘DRSQ’ with a value of ‘1’ for Personal Checking Accounts and ‘2’ for Business Checking Accounts when run in updating mode.

Accounts that have the User Field of ‘DRSQ – Draw Sequence’ within the minors specified in the runtime parameters for Personal Checking Minors and Business Checking Minors are checked for accuracy and corrected if necessary. For example, if a Business Checking has a value of ‘1’, the application will update the value to ‘2’ when run in updating mode.

Benefits

A draw account relationship automatically transfers funds from one or more “draw from” accounts to a primary “draw to” deposit account when an overdraft occurs on the primary account.

Without this app, DNA® users must use the Draw Accounts screen to link eligible draw accounts to the primary account and order the account withdraw sequence in the Draw Accounts grid. And while users can continue to use the Draw Accounts screen to create and sequence draw accounts, this DNAapp offers an additional, automated way to accomplish this task.

By automatically setting and updating the default draw account order, the Draw Account Sequencer DNAapp eliminates the need to manually establish draw account sequences, saving you time and ensuring you do not miss any draw relationships / sequences.