Boost the quality of IBANs and BICs in SEPA paymentsThanks to SWIFT’s new BICPlusIBAN Directory, sending banks can validate the IBANs. The data files used to populate BICPlusIBAN directory must be obtained from SWIFT directly. The sample BICPlusIBAN directory from SWIFT OTD Library is only. This is optional. If such a resource is not available BIC codes are not validated. Ony one of BIC or BICPlusIBAN directory must be present.
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If even that is not available, then the Customer Spread defaults to zero. This consists of ISO country code and sequential number of six digits. The sequence will occur in the following order:.
Specify the CIF number of the ultimate beneficiary for whom the details are being maintained or select the CIF number from the option list provided. For processing direct debits you will also need to capture the Agreement ID of the counterparty in order to facilitate a cross-referencing direcrory the Payment and the Direct Debit instruction when a reversal of payment is carried out due to rejection of the outbound DD. This will be used if maintenance for a specific currency is not available.
For maintaining the settlement modes for such transactions, you have to indicate the source code of the external system here.
Upon selection of the account, the Account with Institution of the selected ultimate beneficiary will appear by default in the AWI field in the Parties 1 tab. Under Details in the Generate MT screen, provide the following details about the chosen receiver:. The system will use this information if settlement mode maintenance is not available for a product under the selected module. For transactions involving any relationship pricing benefit scheme, the customer specific exchange rate derived by adding the original exchange rate and the customer spread maintained for the relationship pricing scheme, gets displayed here.
If an arrangement does exist you can select the Yes option from the option list. Indicate the method of payment for both Outgoing as well as Incoming Payments, for a Branch, Account and Currency combination. For outgoing MT, the first line should have number 1 present in option F. This would not be applicable for Bank Transfers, only for Customer Transfers.
This field is not populated if the receiver of MT is same as Our Correspondent. All settlements are, typically, made using accounts.
This field would be filled up only if the Regulatory Reporting for all the underlying FT Contracts are the same. An MT is a debit advice.
Validate SWIFT BICPlusIBAN Activity
You can view the message status in the incoming browser. In case of bicpusiban, the system automatically updates this field with the sub-type code corresponding to the BIC. From the option list select the specific customer number or choose the ALL option. Indicate the maximum size in bytes, agreed upon between the two parties for transmitting a MT message.
Select the Counterparty Bank from the option list provided. You can change it. This list displays the following values:. You cannot change this value. You can maintain settlement instructions for a particular currency or for all the currencies From the option list select the particular currency code or choose the ALL option. In the above screen, you can base your queries on any or all of the following parameters and fetch records:.
This field can contain reference numbers, invoice numbers or any other details, which will enable the Beneficiary to identify the transaction. If the BIC of the ordering institution bicpluisban sending bank are the same, this field generation in the message is mandatory.
The BICPlusIBAN directory
The system will pick the credit transactions above this limit for customer account statement bicpllusiban. The unique reference number is a combination of the first 7 characters of the contract reference number, a single digit unique number and the last 8 characters of the contract reference number.
Specify the debit floor limit of the customer. You will not be allowed to change this.
After the corresponding schedules are marked as confirmed, they can be viewed in the contract confirmation screen. A fax copy of an MT can be triggered for generation:. The adjoining option list offers the following factory-shipped codes:. While processing an FT for the customer the appropriate charge account is picked up depending on the customer, currency and branch processing the FT. It also provides name and addresses of the corresponding entities.
When the actual settlement event for a contract involving the entity takes place, the payment and receive message details are updated in a message hand-off table. If you opt to settle a contract with an instrument, you should specify the type of instrument that you would use. If the bank is a customer of your bank, you can select the CIF ID assigned to the bank from the option list.
For the above combination of Source, Module, Product and Currency, you can maintain multiple settlement modes and the associated details given below:.
2. The Settlements Service
This will indicate that they are meant exclusively for CLS deals. Whenever the queue exceeds the maximum size specified in the BIC maintenance, dieectory system automatically splits the queue into multiple queues to contain the message within the specified limits. Event date for all other events. The Intermediary may be a branch or affiliate of the Receiver or of the Account With Institution, or an entirely different financial institution.
This information is to be passed through the payment chain to the Beneficiary. Specify the country of the beneficiary institution.