Repeat Transfers

Repeat Transfers as the name defines is a type of transfer, which is regular and periodic in nature. All the customer payments which need to be repeatedly done by the customer at a periodic interval can be initiated only once through Repeat Transfers. Once initiated, these will execute repeatedly till the end date.

Application has simplified the customer task of initiating repetitive payments by introducing Repeat Transfers. A repeat transfer can be initiated for the payee for whom maintenance is already done by the customer.

Pre-Requisites

• Transaction and account access is provided to retail user
• Transaction working window is maintained
• Payees are maintained
• Purpose of Payments are maintained
• Transaction limits are assigned to user to perform the transaction
• Cooling period is defined

Features supported in application

Repeat Transfer allows the user to

• Set Repeat Transfer
• View Repeat Transfer
• Stop Repeat Transfer

Workflow

How to reach here:

Dashboard > Payments Widget > View Repeat Transfer > Repeat Transfer
OR

Dashboard > Upcoming Payments Widget > Setup Repeat Transfer > Repeat Transfer
OR

Dashboard > Toggle Menu > Payments > Repeat Transfer
OR
Dashboard > Payments Menu > Upcoming Payments > Set Repeat Transfer

View Repeat Transfers

Using this option, you can view the existing repeat transfer details as well as an option to stop the Repeat Transfer instruction.

To view and to stop Repeat Transfers:

1. All the repeat transfers maintained appears as a list on Repeat Transfers screen.
   OR
   In the Search By Nickname, enter the nickname of the transaction which you to want view and click .

Field Description

Field Name	Description
Transfer To	Displays the name, address and account number along with the account nickname of the payee .
Transfer From	Source account number on which repeat transfer is maintained.
Account Number	Account Number of the payee in masked format.
Transfer Type	Type of transfer e.g. Domestic, Own, Internal.
Repeat	Repeat instruction set by the user for the payment.
Next Payment	Date on which next payment is scheduled.
Amount	Amount of the set Repeat Transfer.
Action	Action to be performed that is to stop the repeat transfer.

• In the Action column, click the Stop link of the record of which you want to stop the Repeat Transfer. The Stop Repeat Transfer screen appears.
  OR
  Click the Back to Dashboard link to navigate to the dashboard.

Repeat Transfers - Stop Repeat Transfer

Field Description

Field Name	Description
Transfer To	Displays the name and account number along with the account nickname of the payee.
Amount	Amount of the set Repeat Transfer.
Transfer From	Source account number along with the account nickname on which repeat transfer is maintained. For more information on Account Nickname, click here.
Repeat	Repeat instruction set by the user for the payment.
Next Payment	Date on which next payment is scheduled.

• Click Done to complete the transaction.
  OR
  Click Stop Repeat Transfer to cancel the repeat transfers maintained for the account,
• The confirmation for canceling the Repeat Transfer appears.
  Click Stop Transfer to confirm.
  OR
  Click Cancel to cancel the transaction.
• The success message of submitting the transaction appears.
  Click Go to Dashboard, to navigate to the dashboard.
  OR
  Click More Payment Options to pay other bills and go to other payment options.
  

Set Repeat Transfers

Using this option, you can set the repeat transfer for payee.

To setup Repeat Transfer:

1. All the repeat transfers maintained appears as a card on Repeat Transfers screen.
   OR
   In the Dashboard, go to Upcoming Payments widget and then click Set Repeat Transfer.
   The Set Repeat Transfer screen appears.
2. Click Setup Repeat Transfer tab to setup a new repeat transfer for the account.
   The Setup Repeat Transfer screen appears.

Set Repeat Transfer – Existing Payee

Below screen appears if you select the Existing Payee option is selected in Transfer Type field.

Field Description

 

Field Name	Description
Transfer Type	Payee for a SI set up. The options are: Existing Payee My Account (User's own account)
Payee	Payee name, destination account number along with account name.
Account Type	Account type of the payee.
Account Number	Account number along with the account nickname of the payee.
Account Name	Name of the payee in the bank account.
Bank Details	Bank details or BIC code of the payee bank.
Transfer From	Account along with the account nickname from which transfer needs to be done.
Balance	Net balance in the selected account.
Amount	Amount that needs to be transferred. Select the currency of the amount.
View Limits	Link to view the transaction limits for the user.
Transfer Frequency	Frequency for the repeat transfer to be executed. The options are: Daily Weekly Fortnightly Bi-monthly Monthly Quarterly Semi-Annually Annually
Start Transferring	Date for the Repeat transfer to start executing.
Stop Transferring	Date when the repeat transfer should stop executing or the instances after which the repeat transfer should stop executing. It has two options: On: Either select a date on which the repeat transfer will end. After ‘n’ instances: Provide a number. Repeat transfer will stop after executing for ‘n’ number of times.
Instances	Number of instances. This field appears if you select the After option is selected in Stop Transferring field.
Purpose	Purpose of transfer.
Note	Narrative for the transaction.

3. In the Transfer Type field, select the Existing Payee option for a SI set up.
4. From the Payee list, select the payee to whom fund needs to be transfer, and then select internal / domestic accounts maintained for the selected payee.
5. From the Transfer From list, select the account from which transfer needs to be done.
6. In the Amount field, enter the amount and the currency that needs to be transferred.
   OR
   Click the View Limits link to view the limit of transfer.
7. From the Transfer Frequency list, select the frequency for the repeat transfer to be executed.
8. From the Start Transferring list, select date for the Repeat transfer to start executing.
9. In the Stop Transferring field, select either a date or enter the number of instances.
10. From the Purpose list, select the appropriate purpose of transfer.

Note:
1) Add the bank account details of the payee and then continue to set up the Repeat Transfer.

Set Repeat Transfer – Existing Payee

Below screen appears if you select the My Account option is selected in Transfer To field.

Field Description

 

Field Name	Description
Transfer Type	Payee for a SI set up. The options are: Existing Payee My Account (User's own account)
Account Number	Account along with the account nickname to which fund transfer needs to be done. For more information on Account Nickname, click here. Note: Lists only own accounts of the user.
Balance	Net balance in the selected account.
Transfer From	Account along with the account nickname from which transfer needs to be done. For more information on Account Nickname, click here.
Balance	Net balance in the selected account.
Amount	Amount that needs to be transferred.
View Limits	Link to view the transaction limits for the user.
Transfer Frequency	Frequency for the repeat transfer to be executed. The options are: Daily Weekly Fortnightly Bi-monthly Monthly Quarterly Semi-annually Annually
Start Transferring	Date for the Repeat transfer to start executing.
Stop Transferring	Date when the repeat transfer should stop executing or the instances after which the SI should stop executing. It has two options: On: Either select a date on which the repeat transfer will end. After ‘n’ instances: Provide a number. Repeat transfer will stop after executing for ‘n’ number of times.
Instances	Number of instances. This field appears if you select the After option is selected in Stop Transferring field.
Purpose	Purpose of transfer. This field appears if you select the Existing Payee option is selected in Transfer Type field.
Note	Narrative for the transaction.

11. In the Transfer Type field, select the My Accounts option for a SI set up.

12. From the Account Number list, select the account to which the fund transfer needs to be done.
13. From the Transfer From list, select the account from which transfer needs to be done.
14. In the Amount field, enter the amount and the currency that needs to be transferred.
15. From the Transfer Frequency list, select the frequency for the repeat transfer to be executed.
16. From the Start Transferring list, select date for the Repeat transfer to start executing.
17. In the Stop Transferring field, select either a date or enter the number of instances.
18. Click Setup.
    OR
    Click Cancel to cancel the transaction.
    OR
    Click the Back to Dashboard link to navigate to the dashboard.
19. The Review screen the message box indicating the transaction processing date appears. Verify the details, and click Confirm .
    OR
    Click Cancel to cancel the transaction.
20. The success message of submitting the transaction along with the reference number appears.
    Click Go to Dashboard, to navigate to the dashboard.
    OR
    Click More Payment Options to pay other bills and go to other payment options.

FAQs

Can I cancel the post-dated instructions?

Yes, you can cancel the post-dated instructions from the Upcoming Payments screen. Once canceled it will not available on View Repeat Transfer screen.

What happens if I have set up a transfer for a future date, but on that date I don't have enough funds in my account to cover the transfer?

In this case, the transfer will not be made. This transfer is done only on availability of funds in your account.

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