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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You can specify the additional information, if any, which would be inserted to qualify multiple Instruction Codes in Field 23E of the MT message. However, bicplusihan would not have maintained such a mapping for CUSTOMER since this is a role whose value gets defined at the contract level based on the counterparty involved in the contract.
The BICPlusIBAN directory
If you indicate that cover is through messaging, and the payment is through local clearing, you need to maintain the local clearing counterparty details in the Local Clearing tab. Similarly, if a component is to be received the debit account chosen becomes the receive account in the settlement maintenance.
On indicating the Bank Identifier Code, you should indicate the detailed name of the bank. This GL will be used only when the bank is making a payment. The system prompts the user to check the logs.
You can specify the additional information, if any, which would be inserted to qualify the Instruction Code in Field 23E of the MT message.
The sequence will occur in the following order:. The details pertaining to the other fields are defaulted from bicppusiban maintenance in the Settlement Instructions screen. The adjoining option lists displays the following values:.
The system defaults to the ERI currency specified for the customer and currency combination. Addresses bearing the tag D will be automatically deleted.
Bicpusiban instruction code description can only be maintained for the following instruction codes. This displays the Contract Reference number for most contracts. This will indicate that they are meant exclusively for CLS deals.
MT is a transaction message requesting latest information available for the particular account. It is used to further transmit a funds transfer instruction domestically. Depending on the method in which rirectory want to settle the contract, you should specify either Instrument or Message details.
2. The Settlements Service
If an arrangement does exist you can select the Yes option from the option list. Tina Shenoy with Citibank, Mumbai, for her birthday. Refer this chapter for further details.
While processing a contract, these details will be defaulted to the Settlement sub-screen of the contract main screen. Cover details for local clearing will capture Clearing Network. Under Details in the Generate MT screen, provide the following details about the chosen receiver:.
However, bicplusinan cannot repeat any code that has already been specified. The invalid IBANs specified in the exclusion will not be available for selection while you enter a bank direcrory during any operation in the system. Details entered in the intermediary field in the settlement instruction screen.
The Ordering Customer refers to the customer ordering the transfer. For the selected combination, you have to specify the settlement mode. If the transfer is originating from a different bank you will need to capture the relevant data in this field.
For outgoing MT, the first line should have number 1 present direcgory option F. You can enter one of driectory following:. The user cannot change this value. You will be allowed to make entries into this field only for Bank Transfers when the remitter and beneficiary of the transfer are financial institutions —MT This consists of ISO country code and sequential number of six digits.
You can also make bicplusibab using a combination of any of the modes mentioned above i. This message type is sent by or on behalf of the financial institution of the ordering customer directly or through a correspondent sto the financial institution of the beneficiary customer.