10. Account Switching Service

Oracle FLEXCUBE allows you to switch from your old account to a new or a different account. You can either transfer the services fully or partially to your new current or savings account using this Account Switching Service. You can initiate the switch service once you have passed all the necessary ID checks with your new bank. The new bank will intimate whether the switch is in progress or if it is rejected.

The following are the two types of account switches:

Full Switch Service - This service also known as Current Account Switch Service (CASS) allows you to transfer all balances and payment arrangements to the new bank and closes the existing account. Any payments that should be made to, or collected from the old account will be redirected to the customer’s new account.

Partial Switch Service - This service allows you to switch selective payment arrangements from old bank. Partial switch service does not include closing of the existing account or transferring all payment arrangements to the new account.

This chapter contains the following sections:

Section 10.1, "Full Switch Service Process"
Section 10.2, "Partial Switch Service Process"
Section 10.3, "Processing Account Switch Service"

10.1 Full Switch Service Process

The following are the steps to process Full Switch service:

The new bank captures and initiates the account switch information request message.
The old bank receives and uploads the incoming information request message.
The old bank performs response action on the incoming request and initiates Information Response message. This can be accept or reject response based on the status.
The new bank receives and uploads the incoming Information Response message. In case of rejection, the new bank may choose to terminate the request and initiate Terminate message. In case of acceptance, the new bank initiates Request Redirection message.
The new bank initiates Balance Transfer Request to the old bank on the previous day of the switch date.
The old bank receives and uploads Balance Transfer Request message.
On the switch date, the old bank acts on the Balance Transfer Request message to acknowledge the message by calculating the closing balance
The old bank responds to the balance transfer request through Acknowledge Balance Transfer.
The old bank initiates the positive balance payment.
The new bank receives the acknowledge balance transfer message.
If the closing balance is negative then the new bank initiates the payment to the old bank.
The new bank sends Switch Complete message.

10.2 Partial Switch Service Process

The following are the steps to process Partial Switch service:

The new bank captures and initiates the account switch Information Request message indicating the switch type as PARTIAL.
The old bank receives and uploads the incoming Information Request message.
The old bank then provides the response along with payment arrangements (Direct Debit and Standing Orders) in the response message.
The new bank will select the payments to be cancelled by the old bank and initiates cancel payment arrangement message.
The old bank will receive and upload the incoming cancel payment arrangements message.

10.3 Processing Account Switch Service

This section contains the following topics:

Section 10.3.1, "Maintaining Account Switching Service Parameters"
Section 10.3.2, "Viewing Account Switching Service Parameter Details"
Section 10.3.3, "Maintaining Outgoing Information Request for Account Switching"
Section 10.3.4, "Account Switching Service Outgoing Message Browser"
Section 10.3.5, "Account Switching Service Incoming Message Browser"
Section 10.3.6, "Incoming Information Request and Response Operations"
Section 10.3.7, "Incoming Request Workflow"
Section 10.3.8, "Outgoing Request Workflow"
Section 10.3.9, "Redirecting the Requests"
Section 10.3.10, "Outgoing Balance Transfer Request and Response"
Section 10.3.11, "Incoming Balance Transfer Request and Response"
Section 10.3.12, "Notify Switch Completion"
Section 10.3.13, "Switch Termination"
Section 10.3.14, "Cancelling Payment Arrangements"
Section 10.3.15, "Auto Completion for Partial Switch"

10.3.1 Maintaining Account Switching Service Parameters

You can maintain account switching parameters in Account Switching Service Parameter screen. To invoke this screen type ‘ STDASPRM’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

You can maintain the following in this screen:

Bank Code

The system displays the bank code

Service User Name

Specify the service user name. This is a 6 digit service user number allocated by Bacs member bank for current account switching.

Time Lines from the Request Date

Switch Days

Specify the number of branch working days within which the switch process should be completed for full switch service.The system calculates the switch date by adding the switch days to request booking date.

Information Response Days

Specify the number of branch working days within which the bank should respond to the information request. Information response days should be less than redirection request days

Redirection Request Days

Specify the number of branch working days on which the new bank should send redirection request to the Account Switching Service. Redirection request days should be less than balance transfer request days but greater than information response days.

Balance Transfer Request Days

Specify the number of branch working days on which the balance transfer request should be raised by the new bank. Balance transfer request days should be less than switch days but greater than redirection request days.

Auto Completion for Partial Switch

Specify the number of months on which the system will automatically process the action on partial switch request.

10.3.2 Viewing Account Switching Service Parameter Details

You can view the account switching parameter details maintained in the Account Switching Service Parameter screen. You can invoke this screen by typing ‘STSASPRM’ in the field in the top right hand corner of the application toolbar and clicking on the adjoining arrow button.

In the above screen, you can base your queries on any of the following parameters and fetch records-

Authorization Status
Record Status
Bank Code
Service User Number
Switch Days
Information Response Days
Redirection Request Days
Balance Transfer Request Days
Auto Completion for Partial Switch in Months

Select any or all of the parameters for a query and click ‘Search’ button. The records meeting the selected criteria are displayed.

10.3.3 Maintaining Outgoing Information Request for Account Switching

You can capture the data required for sending the Information Request message in ‘Account Switching Service - Outgoing Information Request and Response’ screen. To invoke this screen type ‘ STDASORQ’ in the field at the top right corner of the Application tool bar and clicking the adjoining arrow button.

You can specify the following in this screen:

Branch Code

The system displays the branch code.

Account Number

Select the account number to which account switching from old account is required. Alternatively, you can select the account number from the option list. The list displays all valid account numbers maintained in the system.

Switch Type

Select the account switching service type from the drop-down list. The list displays the following values:

FULL - Full Switch Service
PARTIAL - Partial Switch Service

Click ‘Populate’ to display the following details:

Unique Reference Number
Routing Unique Reference No
Account Name
Service User Number
Booking Date
Switch Date
Balance Transfer Request Date
Original Switch Date
Customer Type
Switch Action
Info Response Date
Received Date Time
Switch Service Status

10.3.3.1 Info Request Tab

The system displays the following details based on the values maintained in Customer Maintenance (STDCIF) screen:

Account Party Details

Prefix
Surname
Given Name
Middle Name
Date of Birth
Nationality
Resident Status

If the account is a joint account then the details of all the account holders will be defaulted in the account party details.

Postal Address

Address Type
Address 1 - 4
Pin Code
Country Code

Other Details

Code

Specify the code. Alternatively, you can select the code from the option list. The list displays all valid options.

Information

Specify the information. Alternatively, you can select the information from the option list. The list displays all valid options.

Organizational Details

Full Legal Name

The system defaults the full legal name based on Customer Maintenance screen.

Legal Status

Select the legal status from the drop-down list. The list displays the following values:

IAPS - Industrial and Provident Society
PCLS - Private company limited by shares (Ltd.)
PCLG - Private company limited by guarantee (Ltd.)
PCLC - Public limited company (Plc.)
GENP - General partnership
LLPP - Limited liability partnership (LLP)
LIMP - Limited partnership (LP)
UNLC - Unlimited company
UNLT - Unlimited trust
CICC - Community Interest Company (CIC)
CIOC - Charitable Incorporated Organisation (CIO)
SOLE - Sole proprietorship/Sole trader
CHAR – Charity

Board Resolution Indicator

Select the board resolution indicator from the drop-down list. The list displays the following values:

The system displays the following details based on the Customer Maintenance screen:

Business Address/Operational Address

Address 1-4
Pin Code
Country Code

Legal Address

Address Line 1 - 4
Pin Code
Country Code

Old Account Details

Account Number

Specify the account number of the old bank that you want to switch.

Account Name

Specify the name as in the old account.

Financial Institution Member ID

Specify the member ID of the financial institution. Alternatively, you can select the member ID from the option list. The list displays all valid bank codes maintained in the Bank Directory Maintenance (PCDBNKMT) screen.

The system displays an error message if the ‘Account Switch Participant’ check box in Bank Directory Maintenance screen is not enabled for the selected financial institution member ID.

Others

Funding Limit

Specify the amount that new bank covers for the negative balance of the old account.

Funding Limit Currency

The system displays the currency of the funding limit amount.

Balance Transfer Window

Specify the processing window in which the balance transfer will be processed on the switch date.

Message Details

The details about the message.

Technical Rejection Details

Response Code

The system displays the response code for technical rejection.

Additional Information

The system displays additional information, if any, on the response code.

10.3.3.2 Info Response Tab

Information response message from the old bank is uploaded and displayed in the Info response tab of Account Switching Outgoing Information Request Input (STDASORQ) screen. Click ‘Info Response’ tab of Account Switching Outgoing Information Request screen to view the below screen.

The system displays the following details in Info Response tab:

Response Code Details

Code
Description
X PATH

Credit Transaction Details

Type
ID
Transferable
Tax Rt Marker
Credit Account
Credit Account Name
Financial Institution Member ID
Other Details Code
Other Details Description

Frequency Details

Sequence
Start Date
No of Payments
Last Payment Date
Required Freq Pattern
Amount
Currency

Direct Debit Details

Mandate ID
Automated DD Instruction
Transferable
Name
Organisation ID
Message ID
Last Collection Date
Last Collection Amount
Last Collection Currency
Other Details Code
Other Details Description
Creation Date Time

10.3.3.3 Switch Complete Tab

The switch complete notification message will be displayed in the switch complete tab. Click ‘Switch Complete’ tab in the Account Switching Outgoing Information Request Input screen to view the following screen.

The system displays the following details in this screen:

Message ID
Creation Date Time

Technical Rejection Details

Response Code
Additional Information

The system uploads the technical rejection on outgoing information request based on the unique reference number with switch action as TRJT. Once the request is marked as TRJT, then further actions are not allowed in this request. You need to create a new request with new unique reference number.

10.3.3.4 Outgoing Information Request Messaging

You can generate the outgoing information request message by configuring intra day or end of day batch. All the authorized outgoing information request records with ‘Switch Action’ as REQS will be generated through this batch process.

A message ID in the following format is generated and stored in the Account Switching Outgoing Message Browser:

Position1 to 6 - Service User Number
Position 7 to 8 - 2 digits year
Position 9 to 11 - 3 digits day of year (001 to 366)
Position 12 to 13 - 2 digits Message number. For Information Request Message it is 01
Position 14 to 28 - 15 characters. Unique Reference Number by stripping the SWI and having only F or P as the first character.
Position 29 to 35 - 6 digits running sequence number

10.3.3.5 Uploading Incoming Information Response Message

The incoming information message from the old bank is processed from Account Switching Service Incoming Message Browser. This message is uploaded to Account Switching Service Incoming Information Request (STDASORQ) of the account branch.

During the upload if a response code W401 is generated and if switch date is modified, then system updates the switch date as in the message.

10.3.4 Account Switching Service Outgoing Message Browser

You can view the outgoing messages and its status in ‘Account Switching Service Outgoing Message Browser’ screen. To invoke this screen type ‘STSASIMS’ in the field at the top right corner of the Application tool bar and click the adjoining arrow button.

You can view the following in this screen:

Unique Reference Number

Select the unique reference number of the account switch request.

Account Number

Select the account number for which account switching is initiated.

Generated Status

Select the status of the message.

Message Type

Select the message type from the drop-down list. The list displays the following values:

Acmt.027
Acmt.028
Acmt.029
Acmt.030
Acmt.031
Acmt.032
Acmt.033
Acmt.036
Acmt.037

Select any of the above parameters. The records meeting the selected criteria are displayed.

Unique reference Number
Message ID
Message Type
Account Number
Status
Message
Error Reason

10.3.5 Account Switching Service Incoming Message Browser

You can view and upload the incoming account switching service in the ‘Account Switch - Incoming Message Browser’ screen. To invoke this screen type ‘STSASIMS’ in the field at the top right corner of the Application tool bar and click the adjoining arrow button.

You can view the following details in this screen:

Processing Date

The system displays the date on which the message is picked for processing.

The system displays the following details depending upon the file name and processing date:

Message ID
Unique Reference Number
Message

10.3.6 Incoming Information Request and Response Operations

You can view and respond to the information request details received from the new bank through Account Switching Service - Incoming Information Request and Response screen. You can opt to accept or reject an incoming information request. To invoke this screen type ‘STDASIRQ’ in the field at the top right corner of the application toolbar and click the adjoining arrow button.

You can view the following details in this screen:

Branch Code

The system displays the branch code.

Account Number

The system displays the account number from which account switching is required.

Account Name

The system displays the account name.

Switch Type

The system displays the account switching service type.

Unique Reference Number

The system displays the unique reference number.

Routing Unique Ref No.

The system displays the routing unique reference number.

Switch Date

The system displays the date on which the switch process will be completed.

Booking Date

The system displays the booking date.

Original Switch Date

The system displays the original switch date.

Switch Action

The system displays the action code during the course of full switch workflow process.

Response by

The system displays the date on which the response to the information request is expected.

Received Date Time

The system displays the message received date and time.

Switch Service Status

The system displays the switch status.

10.3.6.1 Info Request Tab

New Account Details

Account Number

Specify the account number of the old bank that has to be switched.

Account Name

Specify the account name as in the old bank.

Financial Institution Member ID

Specify the bank code of the old bank.

Others

Funding Limit

Specify the amount that the new bank covers for the negative balance of the old account.

The system displays the following details in this tab:

Funding Limit Currency
Balance Transfer Window

Account Party Details

Prefix
Surname
Given Name
Middle Name
Date of Birth
Nationality

Postal Address

Address Type
Address 1- 4
Pin Code
Country Code

Other Details (2)

Code
Information

Organization Details

Legal Name
Legal Status

Business Address

Address Line 1 - 4
Pin Code
Country Code

Operational Address

Address Line 1 - 4
Pin Code
Country Code

Legal Address

Address Line 1- 4
Pin Code
Country Code