Corporate customers can provide the bank with ‘Cheque Issue File’ which contains the details of the cheques issued. These details are matched against cheques received for payment in Inward clearing. If a cheque listed in the Cheque Issue File has been lost or stolen or otherwise cannot be accounted for, customer can place a stop payment order on such cheque.
There is a provision to maintain Positive Pay Agreement for a customer account. If this maintenance is available, when a cheque comes in for payment, the instrument validation will be done with the Positive Pay details available for the account.
You can invoke “Positive Pay Agreement” screen by typing ‘PYDAGRMT’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button...
You can specify the following fields:
Host Code
The system indicates the host code that is linked to the logged in branch of the user.
Branch Code
The system indicates the branch code of the logged in user.
Customer Account
All valid accounts available for the branch are listed. Based on the account chosen, account description and account branch details are populated.
Instrument Code
Instrument codes of type ‘Cheque’ and instrument currency same as account currency will be listed. Select the required one.
Beneficiary Name Validation Required
Check this flag to indicate whether the Beneficiary name validation is required while process an inward positive pay transaction in clearing.
Account Description
The system displays the account description.
Account Branch
The system displays the branch details.
Customer No
The system displays the customer number upon the selection of Customer Account.
State Period
Months
Stale period is defaulted based on Instrument code. You can modify the same. The number of months can be indicated for computing the expiry of the cheque.
Days
The number of days can be indicated for computing the expiry of the cheque.
Note
Stale period can be maintained either in Months or in Days. Maintaining stale period as a combination of Months and Days is not allowed.
You can search for records in the Positive Pay Agreement Summary Screen. You can invoke “Positive Pay Agreement Summary” screen by typing ‘PYSAGRMT’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button..
You can search using one or more of the following parameters:
Once you have specified the search parameters, click ‘Search’ button. The system displays the records that match the search criteria.
There is a provision for uploading and storing Positive Pay files received for an account. The combination of account number and the cheque number has to be unique. A reference is generated for each positive pay record getting uploaded.
Manual input screens are required when the request is received over fax. The Positive Pay File Upload screen is be provided to input, view or amend the positive pay details.
You can invoke “Positive Pay File Upload” screen by typing ‘PYDFUPLD’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button...
You can specify the following fields:
Host Code
The system indicates the host code that is linked to the logged in branch of the user.
Branch Code
The system indicates the logged in branch code of the user.
Source Code
This will be defaulted as MANL for entries using the user interface. For uploads, corresponding Source code will be defaulted.
Positive Pay Reference
This reference is generated and defaulted by system.
Record Date
This will be defaulted as current date.
File Id
Specify the File Id of the customer file received.
Customer Account
Accounts that have positive pay agreement maintained for the branch are listed. Based on the account chosen, account description and account branch details are populated.
Sequence Number
Specify the Sequence Number based on the details available in the customer file.
Instrument Code
Specify the Instrument Code from the list of values.
Instrument Currency
The system displays the currency of the instrument.
Cheque Number
Specify the Cheque Number.
Issue Date
Specify the issue date as mentioned in the customer file.
Cheque Amount
Specify the amount as mentioned of the cheque issued.
Beneficiary Name
Specify the name of the beneficiary. This field is mandatory if Beneficiary Name validation is required as per Positive Pay agreement.
Remarks
Specify remarks, if any. It can be customer remarks or internal instructions. This field is optional.
Instrument Status
Instrument status is populated by the system.
Status Change Date
Date of the latest status change is displayed in this field.
Payment Details
Transaction reference no
Once the cheque payment is done in the system, you can view the clearing transaction reference.
Transaction Date
You can view the clearing date of the transaction if the payment of the cheque is done.
You can search for records in the Positive Pay File Upload Summary Screen. You can invoke “Positive Pay File Upload Summary” screen by typing ‘PYSFUPLD’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button..
You can search using one or more of the following parameters:
Once you have specified the search parameters, click ‘Search’ button. The system displays the records that match the search criteria.
The following actions can be performed for transactions from the Summary Screen.
Actions | Functions | |||
---|---|---|---|---|
Amendment | It is possible to amend the positive pay records which are not in statuses like ‘Lliquidated’, ‘Cancelled’ or Payments Stopped’. The modifiable fields are Amount, Date and Beneficiary. | Instruments are marked as stale after the stale days maintained. This is done by a system job. It is possible to mark them as Open records when the revalidation o f the instrument is done with the new date. Whenever date is amended for the cheque system re-computes valid till date and cheque status is updated for instruments that has current status as ‘Active’ or ‘Stale’. | ||
View | It is possible to view the records received through all channels from this screen. The positive pay records input /upload can be queried and viewed with the system reference number or account & cheque number combination. Cheque status is displayed for each record with date of status change. |
You can invoke “Positive Pay Status Movement” screen by typing ‘PYDSTMOV’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button...
You can specify the following fields:
Host Code
The system indicates the host code that is linked to the logged in branch of the user.
Branch Code
The system indicates the branch code of the logged in user.
Customer Account
All valid accounts for which positive pay records are available are listed.
Cheque Number
Please select the cheque number for which status movement needs to be initiated.Based on the cheque number selected the following cheque details are populated:
Current Status
Current status of the instrument is displayed by the system.
New Status
Select the new status for the record.
Current Status | Allowed List of New Status | ||
---|---|---|---|
Open | Payment Stopped, Cancelled or Liquidated | ||
Cancelled | Open | ||
Payment Stopped | Open |
Note
You can search for records in the Positive Pay Status Movement Summary Screen. You can invoke “Positive Pay Status Movement Summary” screen by typing ‘PYSSTMOV’ in the field at the top right corner of the Application tool bar and clicking on the adjoining arrow button..
You can search using one or more of the following parameters:
Once you have specified the search parameters, click ‘Search’ button. The system displays the records that match the search criteria.
Positive pay cheques received in Inward clearing follows the process flow like paper cheques with the exception that instrument validation is done based on the positive pay record available. Positive Pay reference is stamped to the clearing record.
The following are the processing steps for a Positive Pay instruction: