Creating EFT Requests

This section discusses how to:

Enter transfer origin information.
Specify destination information.
(Optional) Configure EFT handling options.
(Optional) Define intermediary bank routings.
(Optional) Enter transfer addenda.
(Optional) Add internal notes.
Record beneficiary address information.

You can use the pages in this section to create an EFT request, whether your request is for a regular EFT request, or an EFT request involving repetitive transfer or drawdown transfer information.

Pages Used to Create an EFT Request

Page Name	Definition Name	Navigation	Usage
EFT Request - Origin	TR_WIRE_PNL	select Cash Management, then select Fees and Transfers, then select EFT Request, then select Origin	Enter transfer origin information. Capture data on the account from which funds will be furnished for the transfer
Category Purpose	CAT_PURP_EFT	Click the Category Purpose link on the EFT Request - Origin page.	Identify the high-level purpose of the payment instruction based on a set of predefined categories as per ISO 20022 external code list or a proprietary scheme name.
EFT Request - Destination	TR_WIRE_TO_PNL	select Cash Management, then select Fees and Transfers, then select EFT Request, then select Destination	Specify destination information by entering recipient information for a funds transfer.
Identification Information	TR_WR_OTHID_SP	Click the Identification Information icon on the EFT Request - Destination page.	Provide other identification for Name1, Bank, and/or Bank Account values, respectively.
EFT Options	TR_EFT_OPT_SEC	Click the EFT Options link on the EFT Request - Destination page.	Configure EFT handling options.
Routings	TR_INTR_TBL_SEC	Click the Routings link on the EFT Request - Destination page.	Set up multiple routing information for a funds transfer.
EFT Request - Detailed Description	TR_WR_DESC_SEC	Click the View Description icon on the EFT Request - Destination page.	Enter any of your in-house notes for the funds transfer. This information is not transmitted to the recipient.
EFT Request - Addenda	STL_ADDENDA2_SP	Click the Addenda link on the EFT Request - Destination page.	Enter addenda information. The system transmits this information to the recipient. For funds transfers, direct debits, and treasury wires, this page consists of four 35-character lines. For ACH transactions, this page is a freeform, 80-character field.
EFT Request - Beneficiary Address	TR_WIRE_ADDRESS	select Cash Management, then select Fees and Transfers, then select EFT Request, then select Beneficiary Address	Capture the address and telephone information for the recipient of your funds transfers.

EFT Request - Origin Page

Use the EFT Request - Origin page (TR_WIRE_PNL) to enter transfer origin information.

Capture data on the account from which funds will be furnished for the transfer

Navigation

select Cash Management, then select Fees and Transfers, then select EFT Request, then select Origin

Image: EFT Request - Origin page

This example illustrates the fields and controls on the EFT Request - Origin page. You can find definitions for the fields and controls later on this page.

Template ID

Select the template, if you are executing the EFT requests from a template.

Note: Expired templates are not available for selection.

Prenotification

This field is display-only and will appear selected for ACH prenotes.

See Understanding the Funds Transfer Process.

Fed Wire ID (federal wire ID)

For EFT requests associated with federal fund transfers, the Federal Reserve agency assigns a Federal Wire ID code after receiving the request. Enter the code in this field for your reference. This field is automatically populated if the bank returns acknowledgements containing the Fed Wire ID.

This field is used only as reference in Cash Management; it is not necessary for the accounting process.

Note: The Federal Wire ID code is the only reference number that the Federal Reserve recognizes when handling issues or questions about the transfer.

Fees

Click to create fees for this EFT request.

See Creating Fee Entries for EFT Requests.

Payment Method

Select an available payment method (methods are determined by the values that you defined in the Bank Code and Bank Accountfields).

Values are Automated Clearing House, Direct Debit, Electronic Funds Transfer, or Wire Transfer.

You cannot select a payment method for any type of repetitive transfer.

Business Date

Enter the business date on which the funds transfer is to occur. The date that you select carries over to the next business day, depending on:

Holiday lists associated with the currency of the nation funding the transaction.
Business day conventions established at your organization's Treasury Management implementation.

Acct Template (accounting template)

Select an accounting template if accounting is to be run for the transfer. Leave this field blank if the transfer is already accounted for in another PeopleSoft application (for example, Payables).

Note: The Acct Template field is unavailable when the selected account in the Account # field is not enabled for cash clearing.

Category Purpose

Click to dentify the high level purpose of the payment instruction based on a set of pre-defined categories as per ISO 20022 external code list or a proprietary scheme name.

Transaction Information

EFT Request Status

Displays a value of Unapproved. This value changes as activity occurs later in the workflow—for example, when a supervisor approves the entered funds.

Pool Information

Click to access the Pool Information page. If this bank account is used for holding investment pool funds, enter the business unit and identifier of the pool.

EFT Request - Destination Page

Use the EFT Request - Destination page (TR_WIRE_TO_PNL) to specify destination information by entering recipient information for a funds transfer.

Navigation

select Cash Management, then select Fees and Transfers, then select EFT Request, then select Destination

Image: EFT Request - Destination page

This example illustrates the fields and controls on the EFT Request - Destination page. You can find definitions for the fields and controls later on this page.

Get Settlement Instructions

Click to select settlement instructions and automatically populate fields. All fields are overwritten with the settlement instruction information, including fields on the Beneficiary Address, EFT Options, Routings, and Detailed Description pages. Also, if a field is blank in the settlement instruction, the corresponding field on this page is also blank.

Name 1 and Name 2

Enter the recipient's name and other significant identifying information (for example, a company name, a DBA, or joint payees).

Click this icon to access the Identification Information page (TR_WR_TPL_OID_SP), where you can where you can provide other identification for Name1, Bank, and/or Bank Account values, respectively. Available only for a Partner Instructions/Pay Into settlement type.

Country

Select the destination country code, which also determines the selection of available values in the Bank ID Qual (bank ID qualifier) values. Then specify a qualifier that determines which edit algorithm the system should use to check the bank ID number sequence.

Bank ID

Enter the routing number of your recipient's financial institution.

Branch ID

Enter the recipient's branch number.

Acct Type (account type)

Select the destination account type:

Bond
Bus Acct (business account)
Check Acct (checking account)
Dem Dep (demand deposit)
Lf Ins-Net (life insurance)
Mutual (mutual fund)
Ret It-DDA(returned item, demand deposit account)
Ret It-Sav (returned item, savings account)
S&B Acct (stocks and bonds account)
Stock
Time Dep (time deposit)
Trust Fund

Account # (account number)

Enter the account number that you are funding with this transaction.

Check Digit

This field is conditional and dependent on the selected country.

Click the View Description button to add internal notes about the funds transfer. These notes are not transmitted to the recipient.

DFI Qualifier (depository financial institution qualifier)

Select to identify the bank and enter the associated DFI ID (depository financial institution ID), if required. If you use intermediary routings, this bank represents the final bank into which funds are transferred.

The DFI qualifier indicates what format—how many characters and numerics—are in the bank's DFI ID. Note that each type has a specific number of digits that you can enter. Values are:

Transit Number: Exactly 9 numeric characters, plus check digit calculation.

Swift ID: 8 or 11 characters; positions 5 and 6 must be a valid 2-character country code.

CHIPS Participant ID (Clearing House Interbank Payments System participant ID): 3 or 4 numeric characters.

CHIPS Universal ID (Clearing House Interbank Payments System universal ID): 6 numeric characters.

Canadian Bank Branch/Institute: No validation.

Mutually Defined: No validation.

IBAN (international bank account number)

Enter the IBAN. This field appears only if the IBAN Enterable field is selected on the IBAN Formats page.

IBAN Digit (international bank account number digit)

Define the account's IBAN for transmittal with other transfer information. Enter the check digit and click View IBAN. If the DFI qualifier for the specified country is IBAN enabled, and the system successfully validates check digit, the IBAN for this account appears. This field and the View IBAN button appears only if the IBAN Enterable field is not selected on the IBAN Formats page.

BIC (bank identifier code)

Enter the BIC code for the selected bank. This code is based on the ISO standard (9362), which is the universal method used to identify the financial institutions that enable automated processing of payments. A BIC code is used to route cross-border and some domestic payments to a bank branch or payments center.

SEPA requires the use of BIC and IBAN codes to uniquely identify the creditor's and debtor's banks and bank accounts in all euro cross-border payments. It is imperative that the IBAN and BIC codes are correct to avoid repair fees that the bank charges due to processing errors, and to avoid delays in processing payments and collections due to the time-consuming correction of these errors.

Once you enter a BIC code, the system validates the length and layout of the characters, and validates the BIC country code against the country code set up for the bank branch .

Validating DFI Field Requirements for EFT Requests

The DFI Qualifier and DFI ID fields on the EFT Request - Destination page are by default not required fields, however, you can configure the system to return an error or warning in case these fields are not populated. PeopleSoft Cash Management provides two message numbers (9450, 3007 and 9450, 3008) for this purpose, where you can change the message severity to error or warning to get the following behavior:

Error - An error message is displayed, processing terminates, and data cannot be saved until the DFI Qualifier and DFI ID values have been entered.
Warning - A warning message is displayed. You can decide to either stop processing or continue processing without the DFI Qualifier and DFI ID values.