Funds Transfer - Add New Entry

Introduction

The user can initiate single or batch of funds transfer transactions by adding new entries. The user also can delete entries from the list of entries. The funds transfer transactions can be either saved or added to cart and later initiated from incomplete transactions list or from the cart respectively.

Navigation

• Click Add New Entry in the New Funds Transfer screen.

• The Funds Transfer - Add New Entry screen is displayed.

What you can do

The table below provides a brief description of the data that should be entered on the screen and the functions you can perform:

Field

Description

COMMON DETAILS

Frequency Type

Based on the requirement the user can prefer to do one time or recurring transfer.

Valid Values:

One time

RecurringIf Frequency Type is selected as ‘Recurring’, then the following additional fields are to be provided in addition to the transaction date and transaction currency
Frequency - This can be ‘Daily’ or ‘Weekly’ or ‘Monthly’ or ‘Yearly’ or ‘Quarterly’. Based on the requirement, the frequency can be chosen.
Number of installments- Provide the number of times the funds transfer has to be recurring
Validity Indicator - This decides when the transfer needs to be initiated in case the date of recurring falls on a holiday. The possible options are:
- Next Valid Date
- Previous Date
- Skip

Transaction Date

The date of transaction can be selected form the calendar widget. If current date is provided then it is considered as an instantaneous transfer else scheduled. Back dated transactions are not possible.

Transaction Currency

The currency for the transaction can be selected from the drop-down. This is a mandatory field.

Manual Release Required

The corporate user can select this check box in case, the user wants to hold the transaction for some reason and later release the transactions for posting.

Highest Entry Amount

The highest value transaction in the batch is displayed.

Total Transaction Amount

The total value of the batch is displayed.

Total Charge Amount

The total amount of charges, for the transactions in the batch will be displayed.

Total Amount

The total value of the batch, which includes the total value of the transactions and the total value of charges applicable on the transactions, is displayed.

Total Number of Entries

The total number of entries in the batch is displayed.

ADD ENTRY DETAILS

INITIATOR DETAILS

Account

The corporate user can select the origination account (Dr Account) from the drop-down list.

If the values in the account drop-down increase beyond a pre-configured value, then the drop-down will be changed to lookup. Click View Account Details to view the details of the account selected. This is a mandatory field.

Remark

Provide remarks about the origination entry.

COUNTER PARTY DETAILS

Counter Party Type & Nickname

The destination type can be:

My Accounts in Home Bank

Third Party Accounts

My Accounts in Other Bank

A Look Up is provided to fetch the list of accounts based on the destination type. This is a mandatory field.

Amount

Provide the transaction amount. In case the transaction is a multi currency transaction, then click Check Counter Rate to view the exchange rate.

Remark

Provide remarks about the destination entry.

Network

The corporate user can select the network from the drop-down provided.  On clicking the View Applicable Networks link, the networks along with the tentative credit dates for each network and the charges applicable for each network is displayed.

Commission/Charge Indicator

Select the charge indicator from the drop-down.

Valid Values:

Shared

Their

Our

Transaction Purpose

From the drop-down, select the appropriate purpose for the funds transfer transaction.

ENTRIES ADDED

Note:

This table will display a listing of all the transactions in the batch.

Option check box

Click on the check box to select single/multiple records.

Entry ID

The reference ID for individual transfer entries. On clicking this link, the complete details of the transfer entry like initiator and counter party details can be retrieved.

Initiator detail

The debit account number is displayed. On clicking this, the account information like general, balance and the customer details are displayed.

Counter Party Detail

The beneficiaries  account number is displayed. On clicking this, the account information like general, balance and the customer details are displayed.

Charge

The charges applicable for the transaction is displayed.

Entry Amount

The amount of the transaction is displayed.

Total Amount

The sum of entry amount and charge amount is displayed.

Marked for Deletion

Displays whether the transaction has been marked for deletion or not.