After the Custodian bank account has been linked to a cash instrument account, the next step is to set the transaction bank account of the Asset holder Custodian. This is so that the system will know where money would be received and from where to pay money over to the Dealers.

On the Custodian Card of the Asset holder Custodian, go to View Details

Select edit under Transacting bank accounts

Select the relevant instrument account and Save

If the Owner Custodian and the Asset holder Custodian differs, follow the same procedure to setup the transacting bank account on the Owner Custodian. Deposits will then be received in the Owner Custodian’s transacting account and transferred to the Asset holder Custodian’s transacting account.

If the Asset holder Custodian make use of another bank account to ‘park’ money due to, for instance a better interest rate, proceed to Setting up a Custodian Bank account to buy into

Last Updated on 8 years ago by Antoinette Van Meyeren