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.

E-Receipt gets generated on successful completion of transaction. E-Receipt gets displayed in Activity Log detailed view.

Features supported in application

View Repeat Transfer
Stop Repeat Transfer
Set Repeat Transfer

You are here How to reach here:

Dashboard > Toggle menu > Payments > Setups > Repeat Transfers

View Repeat Transfers

Using this option, you can view all the individual existing repeat transfer and its details that have been executed, as well as the details of failed transactions. The details include - the account number and name of the beneficiary, the source account number, amount with currency, purpose of payment, the date on which the next payment is to take place, the frequency of payment, the start date and the end date of the repeat transfer, the note if defined by the user while setting up the repeat transfers.

To view and to stop Repeat Transfers:

All the repeat transfers maintained appears as a list on Repeat Transfers screen.
OR
In the Search By Payee Name, enter the payee name of the specific transaction which you to want view and click .

Field Description

Field Name	Description
Payee Account Name	Name of the payee for identification.
Account Type	Type of account associated with the Payee.
Account Number	Account Number of the payee in masked format.
Frequency	Frequency for the repeat transfer to be executed. The options are: Every Day Weekly Fortnightly Bi-monthly Monthly Quarterly Semi-Annually Annually
Start Date	Date for the Repeat transfer to start executing.
Stop Date	Date when the repeat transfer should stop executing or the instances after which the repeat transfer should stop executing.

Click the Payee Name link to view details or stop the Repeat Transfer. The View Repeat Transfer screen appears.
OR
Click Add New to setup a new repeat transfer for the account.

View Repeat Transfer

Field Description

Field Name	Description
Payee Name	Name of the Payee for identification.
Account Type	Type of account associated with the Payee.
Transfer To	Account Number of the payee in masked format.
Transfer From	Source account number along with the account nickname on which repeat transfer is maintained.
Next Payment	Date on which next payment is scheduled.
Amount	Amount of the set Repeat Transfer.
Purpose	The purpose of the transfer. This field appears for Domestic type of Payee.
Note	Narrative of the transaction.
Execution Details
Start Date	Date for the Repeat transfer to start executing.
End Date	Date when the repeat transfer should stop executing or the instances after which the periodic transfer should stop executing.
Frequency	Frequency for the repeat transfer to be executed. The options are: Every Day Weekly Fortnightly Bi-monthly Monthly Quarterly Semi-Annually Annually
Payment History
Sl No.	Serial number of the records of the payment history.
Execution Date	Date for the Repeat transfer.
Status	Status of the execution of repeat transfer transaction. Status can be: Active Canceled
Reason of Failure	Reason of failure of the execution of the specific repeat transfer, in case of failed transaction.

Click Stop if you want to stop the repeat transfer.
OR
Click Back to navigate back to the previous screen.
OR
Click Cancel to cancel the transaction.

Stop Repeat Transfer

An option to stop the Repeat Transfer instruction is available on Repeat Transfers summary screen as well as View Repeat Transfer details page for those transactions that have instructions pending to be executed.

To stop the Repeat Transfers:

All the repeat transfers maintained appears as a list on Repeat Transfers screen.
OR
In the Search By Payee Name, enter the payee name of the transaction for which you want to stop the repeat transfer and click .

Click Stop if you want to stop the repeat transfer.
OR
Click Cancel to cancel the transaction.
A pop-up window with confirmation for canceling the Repeat Transfer appears.
Click Yes to confirm.
OR
Click No to cancel the transaction.

The Stop Repeat Transfers - Confirmation screen with success message along with the reference number, status and transaction details appear.
Click Go To Dashboard to go to Dashboard screen.

Set Repeat Transfers

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

To set Repeat Transfer:

In the Repeat Transfers screen, click Add New to setup a new repeat transfer for the account. The Set Repeat Transfer screen appears.

Field Description

Field Name	Description
Transfer Type	Payee for a repeat transfer set up. The options are: Existing Payee My Account (User's own account)
Existing Payee Below fields appears if you select the Existing Payee option is selected in Transfer to field.
Payee	Name of the payee to be selected for setting of repeat transfer.
Payee Name	Name of the selected payee.
Account Number	Account number along with the account nickname of the payee.
Account Type	Account type 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.
Currency	CurrencyA generally accepted form of money, including coins and paper notes, which is issued by a government and circulated with in an economy. of the amount to be transferred. Currency is defaulted to destination account currency for Own and Internal Transfer and local currency for Domestic Transfer. For International transfer, the user can select the currency from the list.
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 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 After option in the Stop Transferring field.
Below fields appears if you select the My Accounts option is selected in Transfer Type field.
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.
Currency	Currency of the amount to be transferred. Currency is defaulted to destination account currency for Own and Internal Transfer and local currency for Domestic Transfer. For International transfer, the user can select the currency from the list.
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 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 After option in the 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.

In the Transfer Type field, select the appropriate payee for a repeat transfer set up.
If you select Existing Payee option:
From the Payee list, select the payee to whom fund needs to be transfer. The internal / domestic accounts along with the bank details maintained for the selected payee appears.
From the Transfer From list, select the account from which transfer needs to be done.
If you have selected International Payee, select the appropriate currency from the Currency list.
In the Amount field, enter the amount that needs to be transferred.
OR
Click the View Limits link to view the limit of transfer.
From the Transfer Frequency list, select the frequency for the repeat transfer to be executed.
From the Start Transferring list, select date for the Repeat transfer to start executing.
In the Stop Transferring field, select either a date or enter the number of instances.
From the Purpose list, select the appropriate purpose of transfer.

If you select My Account option:
From the Account Number list, select the account to which the fund transfer needs to be done.
From the Transfer From list, select the account from which transfer needs to be done.
In the Amount field, enter the amount that needs to be transferred.
From the Transfer Frequency list, select the frequency for the repeat transfer to be executed.
From the Start Transferring list, select date for the Repeat transfer to start executing.
In the Stop Transferring field, select either a date or enter the number of instances.
Click Setup.
OR
Click Cancel to cancel the transaction.
The Set Repeat Transfer - Review screen appears. Verify the details, and click Confirm.
OR
Click Back to navigate back to the previous screen.
OR
Click Cancel to cancel the transaction.
The success message appears along with the reference number, host reference number, status and transaction details.
Click Go To Dashboard to go to Dashboard screen.
OR
Click the e-Receipt link to download the e-receipt.

FAQs

Can I make any changes to the post-dated instructions?

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?

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