Banking/CoreConcepts
Bank Account
Understanding bank accounts in Mono and their states.
A bank account is the place where you can manage and hold your organization's money.
Your organization can manage multiple accounts, each one with its own independent balance and state depending on your goals and projects. When you open an account in Mono, you are also opening an electronic deposit in Banco Cooperativo Coopcentral, that will hold your money.
Account States
Accounts in Mono have the following states:
| State | Description |
|---|---|
active | Account in good standing and can be used for transfers. |
canceled | Account closed by the organization's member or by Mono by inactivity. Once an account is canceled, it cannot be reactivated. |