Account Activity Status
In addition to Account State Management, accounts can be Actively used Inactive, Dormant or in Escheatment, we call these Account Activity Statuses as they are related to activity happening on the account.
The Activity Statuses are governed by the state you reside in and require different actions be taken to move from 1 Activity Status to another with different time periods, as illustrated by the above diagram.
| Activity Status | Description | Inactivity Period |
|---|---|---|
| Active | Account is active and transactions are occurring frequently enough to keep the account open. | X ≤ 6 months |
| Inactive | Account is inactive based on no activity for the last X months. Any User Activity on the Account can put it back in an Active State. | 6 < X ≤ 12 months |
| Dormant | An Account is Dormant after X months of no activity. In this state a CSR and Case Manager must work together to Reactivate the Account. | 1 < X ≤ 3 years |
| Escheatment | An Account goes into Escheatment after X years of inactivity. Only the State can ask for it to be reactivated. | 3 years < X |
User Activity
User Activity is triggered either by the End User in the FinTech application or through speaking to a CSR. The following activities trigger updates to the Account Activity:
| FinTech App Activities | Description |
|---|---|
| Money Movement | |
| Internal Transfers | Money movement between 2 virtual accounts on our platform |
| ODFI ACH | FinTech App originated ACH transfers |
| Outgoing Wires | FinTech App originated Wires |
| ACH Disputes | FinTech App initiating an ACH Dispute |
| Accounts | |
| Account Inquiry | FinTech triggering an Account Inquiry |
| Transaction History Lookup | FinTech looking up account history |
| Account Updates | FinTech updating an account |
| Add Account Owner | FinTech adding an Account Owner |
| Add Account Beneficiary | FinTech adding an Account Beneficiary |
| Download Statements | FinTech downloading a statement |
| Card | |
| Dispute Transactions | FinTech App initiating a Card Dispute |
| Card Transactions | Virtual or Physical Card transaction |
| Card Activations | FinTech App activating a card |
| Reissue Card | FinTech App requesting a card to be reissued |
| Add Card | FinTech App requesting an additional card |
| FinTech App Login |
| CSR Activities | Description |
|---|---|
| CSR Account look-up | CSR searching and looking up an Account for a Customer, in Console |
| CSR Transaction History Lookup | CSR reviewing Account Transactions in Console |
| CSR Download Transactions | CSR downloading transactions for a customer |