Oracle® Insurance Policy Administration 9.1.0.0.0 E15811-01

# Bank Draft

The Bank Draft activity allows the owner of the policy to make payments using Electronic Funds Transfer (EFT). BankDraftStart is a system-generated transaction, which is triggered when the issue activity processes if EFT mode is selected on the Policy screen. BankDraftStart spawns BankDraftGetSuspense and BankDraft.

Note: Make sure the Bank Draft date is one day after the Issue activity date.

The BankDraft activity will then automatically be generated each month when an EFT payment is scheduled to take place. If the owner of the policy wants to terminate the bank draft transaction, you can use the Mode Change activity.