Skip to main content
Go to Vitesse.io →

Vitesse Account Movement: FAQs

Updated

In this article

  1. Introduction
  2. What is an account movement?
  3. Examples of why a client may request an account movement
  4. Who can request an account movement?
  5. What is an account movement limit?
  6. Check account limit
  7. Process

Introduction

Account movements are solely handled by the Funding department, including all verification checks, self serve pushbacks and checking account limits. Below are some FAQs related to this ticket type.

What is an account movement?

This refers to the transfer of funds from one Funding account to another. This may involve moving money to an account with the same currency or transferring it across different currencies sits with the FX team.

Examples of why a client may request an account movement

  • The client must add funds to keep the account within the agreed balance limits.
  • The client may need to increase the balance before processing a large claim payout.
  • The client may lack the required roles or be a Managing Agent (who are typically not enabled users).
  • The client may have the correct roles, but the account movement limit is set to 0.00, which will need to be addressed.
  • It is an FCP/MSF account. We do not action FCP account movements please refer to (Link coming soon)

Who can request an account movement?

To request an account movement, the MAS user must have either the 'AccountMovements.Create' or 'AccountMovementAdmin' role and must have access to both the debit and credit accounts.

If the user does not have one of these roles, they must be an Admin user, who are either a TPA or Managing Agent company of the debiting Loss fund account.

What is an account movement limit?

When the managing agent created the new account, an account movement limit was set. This limit was either explicitly set to 0.0 GBP by the managing agent or it reflects an older default that now restricts users from managing the loss fund account. The limit is always applied to the main account and acts as an umbrella for any linked accounts. If you need to update the account limit, please contact the Insurance team. Note: the default is 100,000, unless the managing agent has declined this.

Check account limit

The table below describes how to check the account movement limit in SM.

Step: Action:
Note: Support does not change limits. Use this to decide if the user can self-serve or needs guidance (e.g., limit = 0.01 GBP = no self-serve).
1 Copy debit account name from the request.
2 In SM: go to Administration → Merchants.
3 Paste the name into the Name filter.
4 Select the account.
5 Go to Settings → Risk Settings.
6 View the account limit.
7 Merchants > Enter account.

Process

The table below describes how to handle a client account movement request.

Step: Action:
1 Client account movement request comes in.
2 Acknowledge the ticket by applying the macro Support::Pass to a team to own and assign the ticket to the Funding team.
All account movement requests must be owned and resolved by the Funding team.