Forex make payments
User can initiate a money transfer when the payees to whom transfers are required to be made are registered in the system. Application provides a solution to the users through Transfer Money to cater their requirement of different types of payments. User is provided a single screen of Transfer money using forex deal for their Own, Internal, and International payments.
How to reach here:. Application provides an option to the user to initiate a payment to an existing payee. All account payees created by the logged in user and shared by other users of the Party A party is any individual or business entity having a banking relationship with the bank.
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Details of selected payee are auto populated on transaction screen. User needs to fill in payment details to initiate the transaction. User can also view the transaction limits associated with a current transaction. E-Receipt gets generated on successful completion of transaction in the Core Banking Application. E-Receipt also can be accessed from Activity Log detailed view. Below fields appears if you select Existing Payee option in the Transfer Type field. Payee to whom fund transfer needs to be done and the nickname to identify the account for fund transfer.
The account associated with the payee along with the account nickname. Note: Bank Details will not be displayed for Internal type of Payee. Source account with account nickname from which funds are to be transferred. For more information on Account Nickname, click here. Amount to be transferred along with the currency. This field appears if you select the payee from the Payee list. Note: The currency for Amount gets defaulted as per payee in case of Internal payee.
Whereas it allows to select different currencies in case of International Payee only. Link to view the current buy or sell per unit rate for the chosen currency combination. This button gets enabled when the amount is entered in Amount field to book the deal. Click to view and select the existing forex deals of the selected currency. This field is displayed, when the deal is selected from the Pre-existing Deals popup message window. Displays the buy or sell per unit rate for the chosen currency combination.
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This field displayed if , when the deal is selected from the Pre-existing Deals popup message window. Note: This field appears if you select option Later is selected from the Transfer When list.
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Purpose of transfer. Note: This field is displayed only for Internal Payment. Note: This field appears if you select the International Payee option from the Payee list. This field appears if you select the Later option from the Transfer When list. Note: This field is displayed only for International Payee.
The remaining buy or sell amount and currency in the deal available for transaction. Note: The warning message appears, if user is initiating a transfer towards a payee for whom a SI Standing Instructions: It is an instruction a bank account holder Payee gives to his or her bank to pay set of amount at regular intervals to another's Payees's account.
User can initiate a transfer within the accounts mapped to the logged in user. E-Receipt can also be accessed from Activity Log detailed view. Payee account where the funds need to be transferred along with the account nickname. Source account from which the funds are to be transferred along with the account nickname if the user has added a nickname, for the account. This field is enabled if the Later option is selected in Transfer when field. Note: The warning message appears, if user is initiating a transfer towards a payee for whom a SI or Pay later is due within the next X days as configured to inform the initiator of the same.
Can I use a spot deal for payment? No, only forward deals can be used while doing a payment. Can I set a future date for a fund transfer? You can set a future date for a payment using Pay Later payment option. What happens if I have set up a future dated transfer, but don't have enough funds left under the booked deal earmarked against the transaction on the transaction date for the transfer?
Balance check will not be performed at the time of transaction initiation with future date. The transaction will get declined in case of insufficient funds available in the booked deal in the account on the given transaction date. Copyright Information.
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View Table of Contents. Make Payment Transfer Money using forex deal Transfer Money using forex deal enables the user to initiate payment from his bank account to any other bank account without visiting the bank, through digital banking. Payee Payee to whom fund transfer needs to be done and the nickname to identify the account for fund transfer. Account Number The account associated with the payee along with the account nickname.
Account Type Type of account associated with the payee.
Account Name Name of the payee in the bank account. Bank Details Address of the payee 's bank account.
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Transfer From Source account with account nickname from which funds are to be transferred. Balance Net balance in the selected account. Currency The currency in which transaction is initiated. Amount Amount to be transferred along with the currency. View Limits Link to view the transaction limits for the user. View Current Exchange Rate Link to view the current buy or sell per unit rate for the chosen currency combination Book New Deal Click to initiate new forex deal.
Use Per-existing Deals Click to view and select the existing forex deals of the selected currency. Deal Number Displays the unique deal id of the forex deal. Our experts can help you navigate the complexities of the global marketplace. Handle all your payment and currency needs on a single platform. Complete payments from point A to point B in a few simple steps.
Currencies Explore Now. We help simplify your payments process and maximize your resources. Our expertise helps you streamline your process, while ensuring your payments are made quickly and accurately. Save time by processing international payments directly from invoices, spreadsheets or documents and improve your overall accounts payable process. As your trusted partner, we help solve the challenges of processing payments, enabling you to create, integrate, service, and scale a world-class currency and payments offering.
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