Account applications

An account application records a request to open a provider-authorized account. The record links to a banking instruction and organization, with an applicant, initial deposit, submitted date, provider application identifier, status and revision. That link lets the team inspect the funding instruction and application together.

A preparer can begin with a Draft application and supply the applicant and intended initial deposit. Once it is Submitted, Independent Treasury Approver reviews the current revision and supporting evidence. Approved and Rejected represent the decision. Completed should be reserved for an actual linked effect recorded and checked, rather than for the moment a reviewer clicked approve.

• Draft. Record the applicant, organization, parent instruction and expected initial deposit.
• Decision. Review the submitted revision independently and retain the decision with the parent instruction.
• Provider follow-up. Keep the provider application identifier and check the linked effect before completion.

An account application may depend on an instruction that moves funds. The application and instruction should not be treated as interchangeable. An approved application does not prove that the provider opened an account, that a deposit settled or that the corresponding instruction is Confirmed. The owner follows each result to its own record.

Agree which team member prepares account applications and which Independent Treasury Approver may decide them. Decide what supporting documentation is required for an applicant and initial deposit, and how the preparer connects that material to the parent instruction. Specify which provider acknowledgement supplies the application identifier and what evidence is required before completion.

Set a correction rule for submitted applications. If the applicant or deposit changes, the reviewer should decide the new revision. Keep the prior decision and provider identifier available for investigation. Match the application’s organization to the instruction’s organization, and make sure the reviewer sees both before deciding.

Create an application for a new provider account linked to an instruction for its opening deposit. Record the applicant and deposit amount, submit the application and ask Independent Treasury Approver to examine the current revision and supporting documents. Record an approval decision and follow the provider reference. Verify that the application remains traceable to the instruction and its evidence.

Next, rehearse a rejection and a changed deposit after submission. The rejected request needs a reason. The changed deposit needs a fresh revision and independent decision. Finally, inspect an application marked Completed and ask for the linked provider effect. The team should be able to show what actually completed, not merely that approval was granted.

• Submitted account applications — Applications awaiting a decision with the applicant, deposit and parent instruction.
• Account application outcomes — Approved, rejected and completed applications for follow-up and audit.

See account application, instruction review and data model.