Account applications

An application to open a provider-authorized account sits under a vault transfer and an organization. It carries the applicant, initial deposit amount, revision, submission and decision dates, provider application identifier and status. A Case Analyst can prepare the application while the parent transfer supplies the wider financial context. A Credit Reviewer can examine a submitted revision against supporting evidence before recording the decision.

The application status distinguishes Draft, Submitted, Approved, Rejected and Completed. Approved reflects the reviewer’s decision. Completed means the provider authority has actually issued the account outcome. This distinction matters when staff answer an applicant or plan the next transfer: a positive internal decision is not itself a provider account.

• Draft. Record applicant and initial deposit against the right parent transfer and organization.
• Review. Present the submitted revision and supporting evidence to an independent Credit Reviewer.
• Provider outcome. Keep the provider application identifier and final completion status with the application.

Agree which supporting documents the reviewer needs and how the team identifies an application revision. Define who enters the provider application identifier and which provider notice confirms account authority. The organization on the application should agree with the parent transfer’s operating scope. The independent review rule matters here as much as it does for the transfer itself.

If an application is rejected, keep the decision reason available to the Case Analyst. If the applicant changes details after submission, the new revision needs review on its own terms. Agree how the team communicates the difference between an approved internal decision and provider completion to people who follow the account opening case.

Create an application for a named applicant and an initial deposit under a transfer. Move it from Draft to Submitted, record the submission date, and provide the evidence for review. A Credit Reviewer other than the preparer examines the frozen revision and records an Approve or Reject decision with a reason. Check that the application reflects the decision only after that decision exists. For an approved application, enter the provider application identifier and wait for actual provider authority before marking it Completed.

Run a second case with a changed amount after submission. The older decision should not be treated as authority for the changed revision. An Auditor should be able to follow the application back to the parent transfer and its decision trail.

• Application review inbox — Submitted applications with revision, applicant and initial deposit visible.
• Applications in progress — Draft, submitted and approved cases that still need a decision or provider outcome.

Read application review for the decision and provider outcome for the parent transfer’s external effect.