Bankers Parked Deposits

All deposit attempts that are being held by MegaFlex and have not been passed through to the PSP provider for processing will be marked as Parked Deposits.

The reasoning behind the parked deposits status is to help the broker minimize risk, minimize the possible failed deposits due to reasons that can be solved, or alternatively, to allow for manual processing of a deposit where Megaflex has declined.

For example, if a client deposits 1000$ into their account and it declines from the PSP due to the customer not having the available balance, the deposit will be marked as parked, which then an agent can contact the customer and with him/ her on the line, try for a lower amount.

If in this case the customer did not have the $1000 balance but at $900 the card went through, you save a customer from not funding.

The parked deposit status is activated in the following situations:

  1. When compliance settings are set to “allow deposit without compliance approval” and “allow parked deposits” are set to active.
  2. Deposit exceeds maximum deposit amount per card set on the compliance profile and client is marked as approved (compliance status).

All parked deposits simply need to be manually approved by either compliance or a finance department user. To approve a deposit, the following conditions must be met:

  1. Compliance status marked as Approved and allow deposits without compliance approval is ticked on the Crossings Module settings.
  2. Minimum deposit without compliance approval is checked and the amount is within this limit.
  3. Special approval from a super admin user or the Compliance Officer.

Rules & Exceptions

Important to note: If a deposit attempt has been declined due to a compliance setting, the compliance setting trumps any other setting (even if the exact same setting) set via the Banker model.

Leave a Reply

Your email address will not be published. Required fields are marked *