SaFi Bank Space : Amount blocking/unblocking

Role: BOFE user (access matrix)

Objective: As a BOFE user, I need to block certain amount of funds on customer main account.

Reason: In case of investigation / legal requirement, customer account funds, up to certain amount needs to be blocked.

Design requirements:

• BOFE

  • Display blocked flag, blocked amount and reason for blocking on Customer Main Account page

  • Enable actions to Block amount / Unblock amount on customer Main Account

  • Need to handle multiple block cases with various reasons and amounts. Each block can be unblocked separately.

• Mobile app

  • Message that particular amount was blocked and customer should reach out to support

Functional requirements:

1. Introduce Blocked Amount flag for customer, in order to show message in app and display flag in BOFE as well.

2. Actions

• Amount Blocking (BOFE user will provide this information):

  • Amount to be blocked

  • Blocking reason

  • Valid ticket number (subject to maker-checker process)

• Amount unblocking

  • Valid ticket number (subject to maker-checker process)

3. Account restrictions

• Customer can’t send, withdraw, pay via card or transfer the blocked funds

• This funds can’t be used for any products auto-payments

• Funds will be blocked, until manually unblocked

TODO:

• See comments for additional questions and explanation

• Accounts to create function for BOFE to edit client account parameter and offset the account zero, to reflect the blocked amount(s). In this case, customer will not be able to send and withdraw funds. This solution will also cover the use case of insufficient funds to be locked and auto-blocking of the incoming funds.

• To further clarify with Finance:

  • Gaining interest on blocked amount?

  • Taking overdraft or loan?

Acceptance criteria:

BOFE user can on the Customer Main Account screen initiate Amount block, provide amount, short reason description and valid ticket id. After the maker-checker process, the amount will be blocked for customer. Customer can’t perform any operations with the funds. In case there will be insufficient funds, any incoming funds will be blocked as well, up to the full amount. Each block can be unblocked separately. Subject to the maker-checker process.