Create AFT for Loan Payment
These steps explain how to create an automatic funds transfer (AFT) for a loan payment.
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After following the steps below, you will be taken back to the Funds Transfer Maintenance screen where you can review your AFT for accuracy.
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Launch Tool #51 Miscellaneous Loan Maintenance.
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Enter the account and loan suffix.
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Click the forward arrow.
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Check Automatic Transfer.
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Click the forward arrow.
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Click Add AFT on the Funds Transfer Maintenance screen.
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Enter the FROM account and suffix.
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Enter the TO account and suffix.
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Click the forward arrow.
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On the Select AFT Transfer Type screen, select a transfer type option.
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Click the forward arrow.
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Select the frequency, next transfer date, transfer day, and when to end transfers.
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If for step 10 you selected the transfer type option of Let me specify an amount to transfer every time, then you'll also need to enter the transfer amount here.
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The Transfer day field is for transfer frequencies of monthly, bimonthly, quarterly, annually, or semi-annually. For these frequencies, you would enter the day of the month on which payments will be due. For transfer frequency codes other than those mentioned above, this field should be set to “00.”
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Click the forward arrow.
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Select your payment and delinquency controls option on the AFT Payment on a Loan or LOC Account screen.
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Options: 0, 1, 2, 3, or 4
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Click the forward arrow.
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Click the forward arrow again to confirm.