This topic describes the systematic instructions to reverse a fee manually.

When a borrower fails to make payments on time, financial institutions may apply additional fees and charges to recover costs incurred during the collection process. These may include promise broken fees, recovery expenses, legal charges, and payment failure penalties etc. to delinquent accounts. Oracle Banking Collections provides the capability to apply these fees to an account through the Fee and Charge maintenance.

Financial institutions may reverse fees to resolve disputes, correct errors, or as part of a goodwill or settlement arrangement, while ensuring adherence to regulatory and governance standards.

This feature allows debt collectors to suitably reverse those fee that are calculated in Oracle Banking Collections with a reversal transaction against the particular account.