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.
|Published (Last):||1 August 2006|
|PDF File Size:||14.89 Mb|
|ePub File Size:||16.71 Mb|
|Price:||Free* [*Free Regsitration Required]|
Even if you have uploaded the exclusion list, you can see the IBAN national ID in this screen only from the date of activation of the exclusion. The cover message format to be used during message generation is derived as follows:. The preferences diretcory for an entity determine the manner in which money settlements are made on behalf of the entity.
You have the option of deleting this information.
The details entered in the Intermediary field in the Settlement Instructions screen. 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.
This list displays the following values:. However, you cannot repeat any code that has already been specified. New BIC records will be created for records that bear the tag N.
Validate SWIFT BICPlusIBAN Activity
Some of the fields like field 20 and 32A are generic in nature. If this is not maintained, the Account With Institution becomes the default Receiver.
This field corresponds to field 56a of S. For an FT message, the source reference number is displayed. When you specify settlement instructions for a customer, you can indicate whether payment for local currency transactions is to be effected via messaging or over the local clearing network.
Validate SWIFT BICPlusIBAN Activity
Specify the country of the intermediary reimbursement institution. The settlement amount would be EUR However, you can opt to additionally furnish the value of the component in an ERI currency. This field Specifies the Receiver’s branch, when the funds are made available to this branch through a financial institution other than that indicated in field 53a. This PC contract will be created based on the appropriate transaction currency based bicplusuban the Clearing Network that is maintained as part of the Settlement Instructions.
In case the beneficiary BIC is invalid, then the field value will be null.
The BICPlusIBAN directory
This field is not populated if the receiver of MT is same as Our Correspondent. All settlements are, typically, made using accounts. The details are captured in the Parties section of the Settlements screen.
A fax copy of an MT can be triggered for generation:. Specify the account number of the ultimate beneficiary to which funds need to be credited. Apart from defining a new BIC code record you can perform any of the following operations on an existing record if any function under the Actions Menu is disabled, it means that the function is not allowed.
You can indicate the mode of sending advice to beneficiary here.
The option-list will display the different products available under the selected module. Specify a name for the uploaded file. Mandatory Sequence A General Information. It is in reality the bank, which services the account of the Ultimate Beneficiary. Your entry against the Account With Institution field in the Settlement Instructions screen id defaulted here. During Contract Input, Clearing Network in settlement screen will be defaulted bkcplusiban ‘Clearing Network’ maintained in local clearing section in settlement instruction.
For processing direct debits you will also need to capture the Agreement ID of the counterparty in order to facilitate a cross-referencing between the Payment and the Direct Debit instruction when a reversal of payment is carried out due to rejection of the outbound DD.
During STP, if this field is null in the incoming message, the system will not send an outgoing MT You can select one of the following options:. For maintaining the settlement modes for such transactions, you have to indicate the source code of the external system here. In the Payment By field, indicate the mode of payment, either Message or Clear Details; and in the Bicplusigan By field, indicate the mode through which cover must be available.
Details entered in the Intermediary field of the Settlement Instructions screen are defaulted here.
You can maintain settlement instructions for all the customers or for specific customers only.