Create/Edit/View Draft Payment
This topic describes the details you can enter when creating or modifying a draft. You can modify payments up to the time that processing begins. After that point, the payment details can be viewed but not modified.
Payment Information
- Debit Account
-
The account from which the payment is made
- Amount Type
-
Indicates whether the transaction is a debit or credit
- Amount
-
Amount that will be deposited into the destination account
- Credit Currency
-
Currency of the payment
- Sender's Reference
-
Optional reference information for this payment
- Details of Payment
-
Optional, additional information about the payment
- Ordering Customer
-
The Ordering Customer section includes details about the party ordering the wire payment. You can add a recipient to a payment by selecting an existing recipient from a list or by creating a new one. After selecting or creating a recipient, you are returned to the main page for the payment and the recipient details are displayed.
Note: The availability of this function depends on the company’s configuration.
Routing Information
The Routing Information section includes details about the recipient of the payment.
Field / Option | Description |
---|---|
Recipient Name | The name of the payment recipient |
Address Address Line 2 Address Line 3 |
The address of the recipient
Three lines are available, although they are not labeled. Each line can include up to 70 characters. |
Drawee Bank | The bank against which the draft payment will be drawn |
Delivery | Identifies the address to with the draft will be routed
Your options are as follows:
|
Payment Schedule
- Value Date
-
The date on which a wire transaction is settled by payment and delivery.
The value date can be entered by either of the following methods:
- Manually enter the value date by typing it or selecting it using the calendar.
- Automatically calculate the next available date by clicking Get Value Date. The system determines the date the beneficiary account will be credited.
The system checks the following conditions to determine whether an entered date should be allowed:
- Non-processing days:
- The value date must be a business day for the bank. Note that the processing schedule may vary according to the payment type.
- For cross-border payments, the system checks whether a holiday calendar is defined for the destination country, and if present, prevents you from scheduling an effective date on a bank holiday. In addition, Saturday and Sunday are always non-processing days. If you are designated as a CSA, you can view the defined holidays. See View the Holiday Calendar for a Country.
- If scheduled for today, the system verifies that the cutoff time has not passed.
- Future-dating restrictions – The financial institution may restrict the number of days into the future that a payment can be scheduled.
- Minimum lead time:
- Transactions must be scheduled either one or two days before the effective date, depending on whether the payment is a credit, debit, or mixed batch.
Payments may require one or more approvals and thus need additional time for processing.
- Frequency
-
How often the payment should be made
- If a single, non-recurring payment, select One Time Only.
- If a recurring payment, select
Recurring, and make a selection for each of these options:
- Recurring Schedule – Select a payment schedule from the list.
- Weekend/Holiday Schedule – For weekend or holiday payments, select either previous day or next processing.
- Number of Payments – Select one of the payment options.
- See also About Recurring Payments
Options
The Options section includes settings that affect how the payment will be processed and available to other users.
Field / Option | Description |
---|---|
Charges | Indicates which party to the wire is responsible for paying any related fees
Options are as follows:
|
Workflow: Save as template | This option saves the completed transfer instructions as a template, which is useful if you regularly make the same type of transfer. If you select this option and click Continue, a page appears where you can define template details. |
Workflow: Approve on Submit | The payment receives one of its required approvals upon submission. If only one approval is required, the payment is sent for processing. If more than one approval is required, the payment is placed on the Pending Payments list to await the additional approvals by other users. |