Open

Once depositors have signed their T&Cs, their accounts are ready to open. On the Open tab, you open the signed accounts on your core and hand the new account numbers back to NBID in a download-and-upload flow.

Steps

1. Signed accounts appear in the Ready to Open section.
2. Download the opening file, which is pre-filled with each account and its depositor details.
3. Open the accounts on your core.
4. Record the required account numbers and each account's interest rate in the file.
5. Upload the completed file to NBID.
6. NBID opens the valid rows. Any rows with issues are flagged for correction without holding up the rest.

Accounts are opened within 24 to 48 hours of NBID receiving your file. Your NBID team will confirm the fields your core needs. Run the flow a batch at a time (10 or more accounts per file) rather than one account per upload. You don't need to wait for the whole wave to be signed, and flagged rows can be corrected and re-uploaded on their own while the valid rows open.

Set interest rates
Rates are set per account in the file. Enter either:

• A fixed rate, entered as a decimal, or
• An existing pricing group, referenced by its exact name. Tiers apply at the group level.
  

For any account that will be tiered or floating, use the 0% interest-bearing placeholder pricing group. Then set the account's rate in the Admin Portal before funding. An account left at the 0% placeholder will fund at 0%.