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Defining the payment header

You can specify batch header information pertaining to batch payments using the payment header page. Payment information includes:

•       The number of instruments

•       Total value of all instruments

•       Conversion rates or rate types

•       Debit Account number

•       Value Date

•       Payment currency

•       Payment method

You must specify the following transaction details:

Specifying payment information

·        Fields marked with an asterisk (*)are mandatory.

·        You can also fill in partial details, and save the transaction for later use.

·        The Payment information such as Payment Currency and CutOff Time is auto-displayed.

Specifying payment information

1.     Specify the following payment information:

•       Sending Account: Select the account from drop-down list from which the fund is to be transferred.

•       Payment Currency: This field is auto-displayed.

•       Payment Reference: This field is auto-displayed.

•       Effective Date: By default, the current application date is displayed as Effective Date. You can change the date to a future date, if required.

•       Effective Time: Specify the Effective Time if you want to debit your account and credit beneficiary account at specified time on a specific date.

·        For future dated transactions, system processes transactions at specified time and stops processing warehoused transactions during BOD.

·        If time is not specified, system processes transactions at BOD.

·        If Effective Time > Cutoff Time, system displays an error.

·        By default, the seller's local time is displayed as Effective Time.

•       CutOff Time: The cutoff time is auto-displayed. The transactions that are submitted after the cutoff time processes next day.

•       Credit: The Credit is displayed on the page based on the selected product.  

•       Control Totals: To zero proof the batch transaction, select the Control Totals check box and specify the total amount for the batch.

This field is mandatory if you select the corresponding check box.

2.     You can create recurring transaction for the current transaction. Recurring Transactions are listed on the Recurring Transaction page. Specify the following details for recurrence:

•       Start date: Specify the date from which you want the payment to start.

•       End date: Select the termination date for the recurring transaction.

•       Type of Date: Specify the required date on which the payment is to be made. The available options are:

–       SI Execution date

–       Effective date

•       Frequency: Select the required frequency for the recurring transaction. The available options are:

–       Daily: Select daily and specify the period for which you want the recurring transaction to recur.

–       Weekly: Select weekly and specify the period as weekly, fortnightly, every 3rd week, or every 4th week. You can also specify the day of the week on which you want the recurring transaction to recur using the Reference Day field.

–       Monthly: Select monthly and specify the period as quarterly, semi annually, annually, or the exact month as period. Using the Reference Day field, you can specify the exact date on which the transaction should recur.

–       Specific Day: Select the Specific Day. You can select the particular day of the week on which you want the recurring transactions to recur.

•       Holiday Action: Specify whether the recurring transaction must be executed on the Prev Business Day or Next Business Day, if the execution date of the recurring transaction falls on a holiday. You can also choose to skip the recurring transaction if the execution date falls on a holiday.

•       Next date: The next execution date for the recurring transaction is auto-displayed.

3.     Click Save. You can use the Add Row, Add Receivers, Use Transaction Wizard, or Import Transactions buttons to add multiple instruments to a batch.

Following is example of Payment Information:

Where to go from here

Specifying the payment details