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.

Note: Your company may require that modified payment instructions be approved before the changes become valid. Authorizations must be performed by employees designated as an approver who is not the user who modified the instruction.

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: Send to recipient – If you select this option, you just enter the address fields in the address fields that appear directly under the Recipient Name. Send to originator – If you select this option, a pre-defined address is used. Send to another address – If you select this option, another group of fields are displayed where you can enter the address.

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: Shared – The fees are shared between the originator and the receiver. Normally, the originating bank charges the sender a fee, and the rest of the fees are charged to the wire recipient. Ours – The originator of the wire pays all fees. Banks that process the wire send their fees back to the originating bank for payment rather than deducting from the amount of the wire. Recipient – The receiver of the wire pays all related fees. Each bank that processes the wire deducts their fee from the principal amount of the wire before passing to the next bank
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.

Field / Option

Description

Charges

Indicates which party to the wire is responsible for paying any related fees

Options are as follows:

Shared – The fees are shared between the originator and the receiver. Normally, the originating bank charges the sender a fee, and the rest of the fees are charged to the wire recipient.
Ours – The originator of the wire pays all fees. Banks that process the wire send their fees back to the originating bank for payment rather than deducting from the amount of the wire.
Recipient – The receiver of the wire pays all related fees. Each bank that processes the wire deducts their fee from the principal amount of the wire before passing to the next bank

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.