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Defining the payment header

You can specify batch information pertaining to batch payments using the payment details page.

Click here to view the additional information.

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

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

Specifying payment information

Specify the following payment details:

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

•       Payment Currency: The payment currency is auto-displayed.

•       Credit: The nature of the transaction as Credit is displayed on the page based on the selected product.  

•       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.

•       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.

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

You can choose to create a recurring transactions based on 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: Effective Date is displayed by default.

•       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. 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. 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 transaction 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.

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

Where to go from here

Specifying payment details