2.7.2 Courtesy Pay Processing in Oracle Banking Retail Accounts

This topic describes the processing of courtesy pay in Oracle Banking Retail Accounts.

Customers shall have the privilege of getting honored a transaction, even though there is no sufficient balance in the account when opting for Courtesy Pay and should repay the overdrawn amount within a given time window. No other limits will apply to the account if courtesy pay is enabled for the account. On utilizing Courtesy Pay, courtesy pay utilization fees will be charged to the account.

The system has been enhanced to configure the courtesy pay limit, charge code, and charge fee account at the business product definition level. Also, the courtesy pay opt-in/ opt-out for transactions with source as ATM, POS, or cheque clearing is supported as part of account servicing. Based on this opt-in/ opt-out definition, the Courtesy Pay limit utilization for the source transactions is determined.

Note:

• Courtesy Pay fees are charged as part of the End of the Day process.
• The Product processor code should be OBRACC for Courtesy Pay charge code creation.

Note:

For more information about the configurations, refer to the section Business Product in this User Guide.