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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The Ordering Institution is the financial Institution, which is acting on behalf of itself, or a customer, to initiate the transaction.
In case of the record not getting updated in the Contract Master, the message table is queried for DCN in the field to obtain the reference no. You will be allowed to enter details in this field only if you have initiated a customer transfer MT and MT This is applicable only in the case of bank transfers and not for customer transfers.
Select the Counterparty Bank from the option list provided. This consists of ISO country code and sequential number of six digits. The system will use this information if settlement mode maintenance is not available for a product under the selected module. On indicating the Bank Identifier Code, you should indicate the detailed name of the bank. By default the settlement details of all components of a contract which affect a customer type of account the Role Types can be Customer, Remitter, Beneficiary for all the events associated to the product for which the Role-to-Head mapping has not been provided to the product associated with the contract are displayed in this screen.
A fax copy of an MT can be triggered for generation:. While processing a contract, these details will be defaulted to the Settlement sub-screen of the contract main screen. You can choose the appropriate one. Addresses bearing the tag D will be automatically deleted. During the life-cycle of a contract you will be allowed to amend the details of a Settlement Instruction only for those components which are yet to be settled.
Validate SWIFT BICPlusIBAN Activity
You can enter any one of the following:. The following options are available:.
The details are captured in the Parties section of the Settlements screen. Here, you can enter the name and address or the account number of the Customer, ordering the transaction. It is used to further transmit a funds transfer instruction domestically.
You cannot change this value. Some of the fields like field drectory and 32A are generic in nature. Settlement messages, defined for components that fall due, will be generated automatically when the settlement actually happens for the respective component.
This information is to be passed through the payment chain to the Beneficiary.
For Pay message, system will validate whether the intermediary if intermediary is not present, the Account with Institution AWI will be validated and if the AWI is also not present then receiver will be validated is a RTGS participant.
In this field you can enter either the:. This indicates whether the payment has to be sent with a cover directody. The system will pick the credit transactions above this limit for customer account statement report. If you indicate that cover is through local clearing, you need to maintain the cover details in the Cover Details tab.
Save the contract once you have made the required changes.
Updating BICPlusIBAN (SWIFT Integration Projects)
For Customer transfers, this would be a user enterable field. The system defaults to the ERI currency specified for the customer and currency combination. You can maintain different settlement instructions for different hicplusiban. Since CL is the module used for the multimode settlement the different modes available are:.
This is used during the transition period, settlements of components in ‘In’ currencies can be made either in the same currency or in the Euro EUR depending on the settlement account s maintained. In the above screen, you can base your queries on any or all of the following parameters and fetch records:.
Details entered in the Account With Institution field in the Settlement Instruction screen are defaulted here. It also provides name and addresses of the corresponding entities.
The BICPlusIBAN directory
Specify the country of the ultimate beneficiary. Specify the country of the beneficiary institution. Specify the country of the intermediary institution. If enabled this indicates that accounting entries maintained for the PC product should be posted for the PC contract initiated for Clearing.
Choose the appropriate one. You can select the appropriate source code from the drop-down diirectory displaying the following values:. The details entered in the Intermediary field in the Settlement Instructions screen.
The country information is captured to enable Mantas to analyse the transactions for possible money laundering activities. The description of the selected bank, where the external counterparty account resides, is displayed here. The value of this field is defaulted to CL Consumer Lending.