Manage Bank Accounts in Portfolio
Introduction
The platform allows you to add one or more bank accounts from an existing portfolio. This can be done by linking an existing bank account or creating a new one directly from the portfolio. You can also remove a bank account from the portfolio if it is no longer required or needs to be replaced.
Key Terminologies
Term (A-Z) | Definition |
|---|---|
Bank Account | A financial account created or linked within the platform for managing cash transactions, settlements, and holdings. |
Custodian | The institution responsible for holding and safeguarding the bank account. |
DMA (Direct Market Access) | A usage type where the account provides direct access to trading markets. |
IBAN (International Bank Account Number) | A standardized international code used to identify bank accounts across countries. |
Main Bank Account | The primary account assigned to a portfolio, typically used for default transactions. |
Multicurrency Bank Account | A bank account that supports operations in multiple currencies. |
OTC (Over-the-Counter) | A usage type where the account is used for over-the-counter trades. |
Portfolio | A collection of accounts, assets and related details managed under a single entity in the platform. |
Prop Bank Account | A proprietary company-owned bank account. |
Virtual Bank Account | A non-physical account created in the platform for operational or trading purposes. |
👉 New to some terms? Check our full Platform Glossary for quick definitions.
Permission Requirements
Platform Label | Permission ID | Permission Level |
|---|---|---|
Portfolios | Portfolios | View, Modify, Create, Delete |
Bank Accounts | Bank Accounts | View, Modify, Create, Delete |
🔗 Learn: How to Open a Bank Account, here.
Add Bank Account to a Portfolio
Go to Portfolios, click on the three dots next to the portfolio you want to update and select Edit.
On the portfolio page, toggle on Edit, switch to the Bank Accounts tab and click + Add Bank Account.
In the form that opens, choose one of the following:
A) Add Existing Bank Account – link a bank account that already exists in the platform.
Now, follow the two-step process for adding:
Step 1 – Which Bank Account(s) to Manage? Select an existing account and click Next.
Step 2 – Select Main Bank Account Choose which account should be marked as the main account for the portfolio. Click Save to confirm.
B) Create Bank Account – create a new bank account and assign it to the portfolio.
A form opens, complete it with the following details.
After completing the form, follow the two-step process:
Step 1 – Which Bank Account(s) to Manage? The bank account you added will appear in this step. You can click Next to continue or make changes by clicking the icon.
Step 2 – Select Main Bank Account Choose which account should be marked as the main account for the portfolio. Click Save to confirm.
Once you complete the steps, the added bank account will appear in the Bank Accounts list under the portfolio.
From this list, you can edit/delete the account, as well as mark or unmark it as the Main Bank Account.
Remove Bank Account from a Portfolio
Go to Portfolios and locate the portfolio from which you want to remove the bank account.
Click on the three dots next to the portfolio and select Edit.
On the Portfolio page, toggle on Edit and switch to the Bank Accounts tab.
In the list of linked bank accounts, find the account you want to delete.
Click on three dots menu and select Delete.
Save your changes and the bank account will be removed from the portfolio.
