Payment Allocation, Repayments and Overpayments: IRIS: Automatic Payment Allocation rules on the C Collection file
Where a payment to be posted to the C Collection file results in an overpayment, the full payment is automatically allocated to the Overpayments Account (OAS).
DMB Banking receive notification daily of payments allocated to OAS. They consider how the payment should be handled by taking one or more of the following actions:
- Review the customer’s record
- Liaise with the Processing Office or Debt Pursuit Office
- Liaise with the customer.When they have determined how the payment should be handled they will deal with any resulting allocation or repayment manually.