Changing Secured Balance

Read the following carefully before saving any changes to the Secured Balance field.

Understanding the "Secured Balance" Field

The amount in this field is updated automatically whenever the Pledged Shares feature is used to secure funds against a loan account (in other words, holding funds in the savings account as collateral on a loan), or when the Misc. Secured Funds feature is used to secure funds in an account for any other reason. When those features are used to remove the secured records, the Secured Balance amount on the account record will be updated automatically.

In most cases, then, those separate features should be used either to remove or change the amount that is secured on this account. DO NOT change the amount in this account maintenance screen unless you have already maintained Pledged Shares and/or Misc. Secured Funds records for this account. The amount you enter here must match the total of those records exactly.

If you have already verified that Pledged Shares and Misc. Secured Funds records have been either deleted or updated correctly, and the change being made here is simply to bring those figures in synch, use Enter to record the change.

Special Instructions for Secured Funds on a Savings/Certificate Account

Special Instructions for Secured Funds on a LOC Loan (Credit Card)




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