Bank/Credit Card
The Bank/Credit Card List provides a centralized view of all financial institutions and manually created bank accounts, allowing users to track bank accounts and credit cards in one location efficiently. It enables users to connect/manage new bank connections through Plaid, monitor connection status and maintain manually added accounts as well as perform account related actions.
It includes columns such as bank/credit card name (with logo), a customizable nick name for easy identification, account type, account number, balance and a notes section for additional context. This seamless approach simplifies navigation, ensures accurate categorization, and provides visibility of the linked accounts.
- Go to settings.
- Navigate to Commerce > Bank/Credit Card.
The screen displays each financial institution as a parent record, which can be expanded to view the individual bank accounts or credit cards linked to that institution.
Manual Entry: This section in the bank list, represents the Manual Entry group, where users can manage bank accounts and credit cards that are not connected through Plaid. These accounts are maintained manually and do not support automatic synchronization. And it can only be deleted if it has not been used in any financial transactions or payments.
Here's a breakdown of what each column might contain:
- Bank/Credit Card name: It displays the financial institution and connection name (with institution logo and nick name). E.g. If connected from Plaid then it can be Wells Fargo (John Doe), Chase (Anna), Bank of America (Merry) while for manually added accounts, it can be like HDFC Savings Account, ICICI Current Account or SBI Cashback Credit Card, etc. The system displays different statuses depending on the health of the Plaid connection. If a connection becomes invalid, expires or requires user intervention, an error indicator is displayed to notify the user and prevent interruptions in transaction synchronization. Hover over the icon, it displays an icon followed by the bank/credit card name which highlights whether the account is connected or not. In short, it displays the status of the connected account via plaid.
Case 1: Disconnected/Unlinked bank/credit card account. This account was disconnected by the user from Plaid. It means, new transactions are no longer imported automatically. As well as, Reconnect action should be available directly in the grid. After successful reconnection, the unlink icon is removed automatically, account balances refresh and transaction synchronization resumes.
- Case 2: Authentication required: An warning/error icon is displayed next to the account when the bank connection requires attention. It means, Bank/Credit Card account is disconnected. Might be because of various reasons such as bank authentication credentials have expired, plaid access token requires reauthorization, user changed banking credentials, multi-factor authentication requires re-verification or consent for data access has expired or any other issues. And Re-Authenticate action should be available directly in the grid. Once re-authentication is successful, the warning/error icon is removed automatically and auto-syncing resumes.
Nick name: It is a user defined name for quick identification or easier account selection. Its purpose is to give meaningful labels without changing the official account names. E.g. Salary Account, Personal Card, Travel Card, etc.
Account type: Specifies whether the account is a Bank Account or Credit Card.
- Bank: It represents a savings, current or business account used for deposits or withdrawals.
- Credit Card: Utilized for purchases, payments or monitoring card spending.
- Account number: Stores the bank account number or card number. E.g. 1234555577775678.
- Balance: It displays the available/current balance for the account along with the date on which that was last synchronized/retrieved by the financial institution.
- Note: Additional information or remarks about the account. It's helpful to understand or store some contextual information.
- Actions: Displays available actions based on the account’s connection status. If accounts are added manually then it allows Edit or Delete an existing account. If it is a Plaid Account, then you can add more accounts through Plaid as well as disconnect, reconnect and re-authenticate accounts.
- Edit: Allows authorized users to modify account information.
- Delete: Users can delete accounts based on some conditions. So, to delete an account:
- Click on the “Delete” option, it will open confirm delete dialog with specific message. Here, by clicking on the “Delete” button, the account gets removed while clicking on the “Cancel” or “X” closes the delete dialog. But, delete an account only if it has not been used in any payment transactions within the system or doesn’t have any associated transactions.
- It will display the message below, if any associated transaction with it. Ensuring the account is not linked to active payments or other transactions.
- Reconnect: Used to reconnect the institution or bank account, so the automatic synchronization resumes. This option is available when an account is disconnected or unlinked. A disconnected account can be reconnected at any time by selecting Reconnect and completing the Plaid connection process.
- The reconnect process first collects the connection nickname and transaction start date, then launches the Plaid connection flow. After the user completes the Plaid process, the system compares the newly selected financial institution and account with the previously disconnected account. Here, if the same bank or financial institution with the same/different account is found then the system displays Use this connection or Continue with new connection options. These options are discussed at the end of the connect a bank account.
- Re-Authenticate: When any credentials changed or MFA expired or bank requires renewed authentication, then users can view this option and must verify their identity again. Refer to the connect a bank account.
- Add more accounts: Allows users to connect additional accounts through Plaid. To add more accounts, refer to the connect a bank account.
- Rename Nickname: This feature allows users to update the nickname of a connected bank account, credit card or financial institution (the accounts which are connected via Plaid). Here, renaming the nickname does not affect the account connection.
Users can modify the nick name for the selected account. This field is required. It updates the nickname and is reflected in the list. In short, it allows users to personalize account names based on their preferences or business needs as well as makes accounts easier to identify. Refer below image to view account related nick names.
- Disconnect: This feature allows users to remove the connection between sBizzl application and a financial institution, which is connected through Plaid. Once disconnected, it stops importing new transactions and updating account balances. Here, the user selects Disconnect from the account’s Action menu, then it displays a confirmation message in the dialog. And then plaid connection for the selected institution/bank is removed and automatic synchronization of balances and transactions stops. Finally, the account status is updated to Disconnected (or unlinked). But the account can be reconnected for future use.
Users can confirm disconnected accounts from the list below shown.
Add a Bank/Credit Card Account Manually
Learn more about how to add a bank or credit card account manually.
Connect a Bank Account
Learn more about how to connect a bank account.