DMBM131025 | Manage charges (information) by IT system: Manage charge (information) in SAFE: Set clerical interest indicator

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A SAFE record can hold clerical interest signals at both customer and charge level.

Interest Exception Signal (Customer Account level)

To prevent interest being calculated or charged automatically for all charges on a Customer Account the Interest Exception signal is set using the function Maintain Account and selecting the Interest Exception Signal.

Inhibit Interest (Charge level)

To prevent interest being calculated or charged automatically for a specific charge on a Customer Account, Inhibit Interest is set using the function Manage Charge and selecting Inhibit Interest.

Where either signal is set, both late payment and repayment interest will have to be calculated clerically as any automatic calculation/recalculation of the interest position will be prevented. Where an overpayment arises following a charge amendment and either of these signals is set, the overpayment is transferred to Unallocated Payments.