Bank accounts

A bank account can be assigned to each holding. Any outbound payments for that holding (interest or capital repayments) will then be made to that bank account.

A single bank account can be assigned to multiple holdings.

Bank account details are encrypted automatically before being stored using a public key.

In order to see the actual bank account details, for example if you want to upload a set of outbound payments to your outbound payment provider, you will need to decrypt them using a private key.

You can use the Decrypt Bank Details screen to do this. It is designed to decrypt CSV files that have been created using the Outbound payments functionality but will decrypt any csv file that has a column named encrypted that contains bank account details encrypted by CiviShares.

Setting up and storing public and private keys

Your administrator should set up a public and private key pair when they initially configure CiviCRM which will be used to encrypt and decrypt all transactions. Doing so is outside the scope of this documentation but see instructions here: https://lab.civicrm.org/michaelmcandrew/civi-encrypt-bank-account.

It is strongly recommended to store the private key separately from the CiviCRM database. Make sure to keep your private key safe. If you loose it, you will not be able to decrypt any bank account details, and if someone else gains access to it, they will be able to do so.