Forex Accounts Funds

This section is designed to handle all operations related to customers’ forex accounts. It includes recording information on various deposits, withdrawals, and transfers, as well as calculating interest, blocking, and unblocking funds. Additionally, all operations related to the forex fund, including buying and selling foreign currency and customer transactions, are performed within this system. The system also covers operations related to incoming and outgoing forex transfers.

In the forex accounts section, the conditions for opening different types of forex accounts, such as account type, permissible currencies, minimum opening amount, minimum acceptable balance, authorized sources, interest-bearing status, interest rate conditions, and interest deposits, are defined and introduced to the system. Cash deposits and withdrawals, as well as transfers between opened accounts, can be made within the framework of the conditions and regulations of each account type, using defined withdrawal tools in equivalent and convertible currencies.

Transfers of bank customers’ forex accounts to and from outside the bank can be carried out through the system’s existing capabilities for incoming and outgoing forex transfers. The system calculates and deposits interest on term forex deposits based on the defined rate variety according to the deposit period and the source of the opened currency, and at the end of the year, accrued interest operations are also performed.

Each forex account can be partially or fully blocked and unblocked based on a specific blocking reference. There is also the possibility of a general block for all accounts of a customer (personal block).

Non-commercial foreign currency buying and selling operations and the registration of required information related to each of the defined items in the foreign exchange regulations are conducted in this section. In certain cases, such as selling travel/pilgrimage currency, specific conditions apply, and the necessary facilities for these are anticipated in the system.

Given that cash operations are conducted in this section of the system, it is possible to record and maintain detailed records of received and paid banknotes and prepare reports on the branch fund status. The processes of transferring banknotes between the branch and the treasury are also carried out in this section.