TurnKey Lender supports automatic charging. When it is set up, all the regular payments, defined in the loan schedule (Payments tab) will be automatically charged from the client's default bank account or card (Bank details tab).

Sometimes, there appears a need to add other payments that shall be charged from the customer’s bank account or card but are not on the schedule (e.g. some additional fees, charges resulting from the lack of funds on the account/card during previous automatic charges, etc.)

Therefore, TurnKey Lender provides “Custom transactions” that can be added and managed from the Servicing and Collection workplaces.

Add a Custom Transaction

In order to add a custom transaction, go to the Servicing and Collection workplace and open the “Scheduled transactions” tab.

Open

If the tab is not available, please contact TurnKey Lender to make sure that the functionality is enabled for your account.

Click the blue plus icon below the “Custom transaction”.

Open

“Add transaction” window will emerge. Define:

• Date on which the payment shall be charged (“Effective date”)

• Amount to be charged

• Comment on the charge. It is important to keep the comments clear and readable to track the transactions in the future.

Click the “Add” button

View Custom Transactions

All custom transactions are visible to Back office users in the Servicing, Collection, and Archive workplace, in the “Scheduled transaction” tab.

For each transaction, its status, effective date, amount, and the user who has performed the last action on the transaction are displayed.

Available Statuses:

Manage Custom Transactions

Action icons on the right allow Back-Office users to

• Edit a custom transaction: Click the pencil icon, update the details and click the “Edit” button
  
  

• Remove a custom transaction: Click the trashbin icon, leave a comment and click OK

• Review the transaction history: Click the clock icon

What the customer sees

As soon as a custom transaction has been performed, the customer will see it in the transactions tab of the personal cabinet.

Please note that custom transactions are not suspended by the Suspended transactions functionality.