Article Details
Id:9791
Product:finPOWER Connect
Type:FIX
Version:1.05.00
Opened:13/03/2012
Closed:14/03/2012
Released:16/03/2012
Job: J009200

Account Refinanced; fails to calculate new Account

When refinancing an Account with a small balance and selecting the "New Account" option, finPOWER Connect may error with the following message:

Failed to commit Account Close.
Failed to Refinance Account.
Failed to create Refinance Account.
Cannot calculate Account Payment value.
The Payment value cannot be calculated. Reasons for this include:
1. The Account Balance becomes Zero or goes into Credit before the Maturity date.

This occurs because the timing of payments and interest/ fees and the value of payments cause the Account to go into a negative balance, and the Account Type does not allow this.

finPOWER Connect has been changed to allow a Refinance to continue and add the New Account. However, whilst going through the New Account wizard the Account will need to be updated.