Create IAT International Payment
Batch Information
The details in the Batch Information section apply to the entire payment.
Detail | Description |
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Company Entry Description | A brief description of the payment in ten or fewer characters
The entered text displays on the Payment Center page in the Transaction Name/Reference column for pending or processed ACH payments. |
Originating Account | The account from which the payment originates |
Originating ACH Company ID | The code that identifies the originator
A company account can have multiple ACH company IDs. When this is the case, the page provides a list from which a company user can select the ID that should be used for the payment. |
Destination Country | The destination country for the cross-border payment, and if defined, the default Gateway Operator (GO) for that country. |
Destination Currency | The currency of the cross-border payment. The options available depend on the selected Destination Country.
If the country is non-U.S. and the bank has not defined a default Gateway Operator, the only option will be USD. |
Offset Creation Level | Indicates how settlement records should be generated for the batch
Options are as follows:
Note: This option appears only when your company is configured for balanced ACH files.
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Effective Date | The date on which you want the payment settled for all recipients in the batch
The standard effective date is supplied, but the date may be changed by typing it or selecting it from the calendar. Be sure to allow enough time for processing. The system checks the following conditions to determine whether an entered date should be allowed:
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Frequency | How often the payment should be made
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Workflow | Options for the final steps in the workflow
The options are as follows:
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Originator Information
When creating or editing an IAT payment, you must specify details for the originating company. The Originator Information section requires that you provide contact information for the company, including the company name, tax ID, and address. If the financial institution maintains this information in the banking application profile, these fields are prefilled with profile details. You can add to or change profile details, as needed.
Recipients
You can create new recipients by selecting them from a list, creating them, or by importing the information from a file. After adding one or more recipients to the payment, the list displays the following details and options for each recipient.
Column | Description |
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Recipient Name | The name of the payment recipient |
Recipient ID | An identifier for the recipient |
Bank ID | The bank routing number of the account |
Bank Name | The name of the recipient's bank |
Account | The number of the recipient's account |
Account Type | The type of account:
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Amount | The amount to be credited to or debited from the account
Click the Zero All button to quickly change all amounts to zero. |
CR/DR | Indicates whether the transaction will be processed as a credit to the recipient's account or as a debit from the account
You can use the Running Totals link (top right of the Recipients list) to display a summary of credits and debits. Subtotals are calculated by recipient status (Active, Hold, or Prenote). To change all recipients to debits or credits, click Set All, and select the All Debit or All Credit link. Note: The CR/DR column appears only if the ACH payment type has been configured in Solution Application Manager to allow mixed batches.
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Transaction Type | Select the transaction type from the list |
Status | Indicates the status as one of the following:
Click the Set All button to quickly change all the recipient transactions to the same status. |
Addenda | Additional remittance information, specific to the recipient
Click Add Addenda to add the optional information. You can add up to two lines of addenda data. |
Remove | To remove the recipient, click (the Delete Icon). |