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Transfer Account Ownership

Early Access Feature

If you would like to request early access to this feature, please get in touch with your Mambu Customer Success Manager to discuss your requirements. For more information, see Mambu Release Cycle - Feature Release Status.


Customers are able to transfer the ownership of an account to a different owner. This can be done in the following directions:

  • From an individual user to a group
  • From a group to an individual user
  • Between groups and individual users.

Some restrictions apply before transferring an account:

  • Account is in the active, approved, or active_in_arrears state.
  • Target owner is in active or inactive state.
  • Account is not linked to any loan account.
  • Account doesn’t have pending authorization holds or blocked funds.

Permissions required to access this feature:

  • Edit_Deposit_Account
  • Manage Deposit Account Recipient

To start the process use the POST /deposits/{depositAccountId}:transferOwnership endpoint. This will trigger and complete the process.

Important

When initiating a transfer to an owner on a different branch, make sure the account’s product is also available on the new owner’s branch if you intend to change the branch as well.

Post-transfer restrictions​

The following actions are restricted once the ownership has been transferred:

  • The ability to view the previous owner's financial activity is restricted for the new owner. Based on the permissions granted, a user - for example a clerk - may still be able to view them.
  • The ability to adjust transactions which are dated before the transfer.
  • Posting/editing/deleting interest availability with a start date before the transfer.
  • Applying interest with value date before the transfer date.
  • Changing interest rate before the transfer date.