Relevant for: All modules
Accessed by: Administrator, Finance
Note: All dates and times are noted in the UTC timezone.
Treasury Vaults are the ledger representation of underlying bank accounts that are under management for a specific program.
A Program is a typification within the product of a set of services that Alviere provides to a business account, i.e. a client. Different programs support different types of Treasury Vaults, each one with specific rules; for example, some accounts might only support debits, while others might support both debits and credits, and for some of the programs, Treasury Vaults don’t apply.
With the exception of the Master FBO account (details below), all Treasury Vaults may have a Load and/or a Withdraw payment method associated with them. Generally, this payment method is a bank account and will perform transactions via ACH due to the potential size of each transaction, although there is no system limitation to these payment methods being a credit or debit card.
Alviere’s portal displays Treasury vaults (i.e. the ledger accounts) under the Treasury Management function, generally available for Finance user access profiles only.
Treasury Vaults types
The system supports a number of Treasury vaults that are applicable to different products that Alviere supports for its clients.
Below are the Treasury Vaults supported by the system and the available actions for Alviere clients on each of the accounts:
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The Master FBO
This is a Treasury vault that represents all the balances of consumers for a program. The funds are held For Benefit Of (FBO) consumers and cannot be touched by Alviere’s end clients or Alviere employees. All transactions in this account are initiated by consumers and could also be initiated by Alviere’s operational personnel by way of Adjustments required to correct ledger errors.
The balance, in-transit, and captive funds buckets represented in Alviere’s Portal are the sum of the buckets of all the consumers for that business account.
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Card Funding
This is an account specific to programs that support Just In Time funding. Currently, only Gift card programs support this type of account because funds do not actually belong to consumers, i.e. they belong to Alviere’s clients until the funds on the cards are actually used. As such, Alviere clients can freely Load and Withdraw funds from these accounts.
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Loss Reserve
This account holds funds as a reserve for losses that a client program might incur. For example, a Chargeback on a Card Processing program which might incur a loss or writing off of negative balances on consumer accounts. The system will automatically move funds from this account to the corresponding account that needs to be replenished.
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Service Fees
This account holds Service Fees that are charged to consumers as part of the service provided by Alviere’s modules. For example, there might be a markup on a transaction of a card that was charged to a customer and the system will automatically move these funds to this account.
Note: Service Fees can also be reversed, in which case funds will flow from the Service Fees accounts back to the consumer wallets (the Master FBO).
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Prefunding
This account holds funds that are made available to consumers before the settlement of those funds into the bank accounts. For example, a consumer might load their wallet from a debit or credit card, in which case the settlement will only occur two days later, but the client’s program allows for instant access to these funds - these funds will be temporarily made available by this account, which will in turn inherit the settlement of the original transaction’s funds, i.e. when the funds settle this account is replenished.
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Card Settlements
This account is specific to Card Processing programs and represents a bank account where funds are settled from Alviere’s Payment Processor partner. Settled funds could either flow directly into the Master FBO account in the case of wallet-type programs or be transferred to the client’s external bank account in the case of an Alviere client that has only purchased Card Processing services from Alviere.
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DDA Settlement
This account is for internal use only and represents the bank settlement account to where DDA transactions are sent. This account is not shown in the External Portal.
The purpose of this account is to transfer real funds to other Treasury vaults and/or to consumer accounts when DDA transactions are received.
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Promo Funds
This account holds promotional funds that customers can assign to their customers. In terms of the ledger transactions, all transactions in/out of this account are either of type CAMPAIGN or CAMPAIGN_REVERSAL. For example Cashbacks or Boosts given to customers for card issuance programs will pull funds from this account.
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International Transit
This account is specifically for customers which have acquired the Remittance module of Alviere. When international transactions occur, the funds to fulfill the transaction need to be moved to this account.
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Operations
This account belongs to Alviere’s clients and is used exclusively to Load or Withdraw funds from Consumer Accounts, i.e. into/from Master FBO. This account is mainly used to support Payroll-type programs.
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Check Disbursement
This account is specific for the Check Disbursement product. Every time there is a check that is issued to a customer, funds for the fulfillment of that check are moved to this account. Similarly, if checks are returned in the mail, funds will revert back to the consumer account balance.
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Revenue
This account is specific for programs where Alviere collects Revenue from Clients or Consumers in the platform.
Unlike the Service Fee account, which is used to collect service fees belonging to Alviere’s clients, this account is mainly for revenue that comes from the Master FBO account, i.e. charged to end-users of the platform.
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FX Reserve
This account is specifically for customers which have acquired the Remittance module of Alviere. This account serves as a reserve to cover for fluctuations between the consumer rate and actual rate that the clients are charged for exchanges. Profit (or loss) for exchange markup would also be added to this account.