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MT101 Instruction is a facility wherein a customer can request the bank to instruct debiting of its accounts held with other banks to make payments to its beneficiaries.
The MT101 request initiation can be done by the bank on behalf of the customer or by the customer directly. This facility is available for initiating Manual Payment Transactions, Templates, Standing Instructions (SI) and through File Upload.
Customer of ABC Bank in Singapore holds
an account each with Citi Singapore & Hong Kong. The customer wants
to make payment to its beneficiary using Citi Hong Kong Account. In such
case the customer is able to raise a request to the ABC Singapore which
in turn raises instructions to the Citi Hong Kong to make the payment
to the beneficiary.
The data of accounts maintained with other banks is setup in the bank system and is synchronized with client. All these accounts are made available (as Debit Accounts) for payment initiation – whether manually or via uploads and are also available in all existing DISB_DEBIT related account seek lists - such as in AVM/SVM definition.
MT101 CashIn Product is independent
of payment currency.
Fusion Cash Management allows you to create physical payments by:
Verifying and submitting
the payment
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Cat ID: FCM4.6-00-U02-1.5.3-201903 |
