Creating a recurring transaction

A recurring transaction is a instruction a sender gives to the bank to pay a particular amount at regular intervals to the receiver's account. These transactions are processed in the near future and not at the time of defining the recurring transaction.

This service enables the client to transfer funds at a pre-set frequency and amounts from the client's account to receiver's account. Recurring transactions are generally used for payments made at regular intervals to the same payee, such as repayment of loan payments, salary payments, and bill payments.

A key aspect of a recurring transaction is configuring the frequency of recurrence.

The effective date and the end date of the recurring transaction must be within the start and end date of the frequency selected to execute the transaction.

1. Navigate to Payments.

2. Click Recurring Transactions. The Recurring Transaction page is displayed.

3. Click the icon to customize columns and column order. For more information, see Summary information.

Page element	Description
Filters	Filter the information using the Saved Filters, Status, and Entry Date filter criteria. For more information about creating a new filter, see Creating a new filter. You can clear the pre-defined filter settings using the Clear Filters link.
Group by	The grid displays the details of the transaction as specified on the settings page.
Actions	You can select a transaction and perform the required action. The available options are: • Suspend: Suspends the transaction. • Discard: Discard the last action performed on the transaction. • Approve: Select the definition and click Approve to approve the definition. • Reject: Reject the transaction created by another user. • Enable: Enable the transaction. For more information about actions, see Additional action on setup.
Select dropdown	Click the Select dropdown to perform the following activities: • Modify Record: Modify the transaction. • View Record: View the transaction details. • View History: View the history of transaction creation and approval. Alternatively, you can right click on a row to perform these action. When you single click on a row, the View or Modify page is displayed based on the current status of the record. The next actions to be taken on the payment are displayed in the drop-down list.
Selection box	Select the check box corresponding to the transaction and perform the required action.
Pagination bar	Depending on the volume of data displayed in the list, the list can have one or more pages. You can navigate through the pages by using the pagination bar.
Export	You can export the summary information to the required format such as XLS, CSV, TSV. If you want to export the header details, select the With Header check box.
Report	You can generate a PDF report of the summary information.
View	Click to see or set number of records on a single page.

Following is example of Recurring Transaction page:

This section provides information about:

Creating a single recurring transaction

Creating a batch recurring transaction

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