4.6 FX Purchase Against Account

The FX Purchase Against Account screen is used to purchase foreign currency from the branch through the CASA account.

This transaction is performed by crediting the corresponding amount to the CASA account.

To purchase foreign currency against the CASA account:

1. On the Homepage, from Teller mega menu, under Customer Transaction, click FX Purchase - Account or specify FX Purchase - Account in the search icon bar and select the screen.
   The FX Purchase Against Account screen is displayed.

   Figure 4-7 FX Purchase Against Account

   
   

   
   Description of "Figure 4-7 FX Purchase Against Account"

   
   
2. On the FX Purchase Against Account screen, specify the fields. For more information on fields, refer to the field description table.

   Note:

   The fields marked as Required are mandatory.

   Table 4-7 FX Purchase Against Account - Field Description

   Field	Description
   Account Number	Specify the CASA account number to be credited for the foreign currency purchase. Note: In addition, you can use Oracle Banking Virtual Accounts. These Virtual Accounts are used as a routing account to credit the underlying physical account. The system displays an override or error message on the tab out of Account Number based on the account dormancy parameters.
   Amount Bought	Select the applicable currency from the drop-down list, and specify the amount that needs to be bought from the customer.
   Allow Denom Variance	Select if the denomination-wise variance needs to be applied for the transaction. Note: If the parameter at the function code indicator is set as Y, this option will be selected by default, and it can be modified. If the parameter at function code indicator is set as N, then this option will be disabled.
   Beneficiary Name	Displays the name of the beneficiary customer based on the account number provided.
   Beneficiary Address 1 to Beneficiary Address 4	Displays the address of the beneficiary.
   Identification Type	Select the type of identification provided by the customer from the drop-down list.
   Identification Number	Specify the identification number provided by the customer.
   Exchange Rate	Displays the exchange rate used to convert the transaction currency into account currency, and it can be modified. Note: This field is displayed only if Multi-Currency Configuration at Function Code Indicator level is set as Y.
   Negotiated Exchange Rate	Specify the negotiated exchange rate that should be used for foreign currency transactions between the treasury and the branch. You need to specify the negotiated exchange rate only when the currencies involved in the transaction are different. Note: This field is applicable only if the transaction involves cross currency and only if cross currency enabled and Negotiated_Rate_Enabled Configuration at Function Code Indicator level is set as Y.
   Negotiated Reference Number	Specify the unique reference number that should be used for negotiation of cost rate, in foreign currency transaction. If you have specified the negotiated cost rate, then you need to specify the negotiated reference number also. Note: Accounting system books the online revaluation entries based on the difference in exchange rate between the negotiated exchange rate and transaction rate.
   Amount Paid	Displays the amount paid and currency to the CASA account. Note: The currency of the amount paid is defaulted from the account currency. The Amount Paid will be calculated based on the Amount Bought and the Exchange Rate. This field is displayed only if Multi-Currency Configuration at Function Code Indicator level is set as Y.
   Total Charges	Displays the total charge amount, which is computed by the system in the local currency of the branch. Note: This field is displayed only if Total Charges Configuration at Function Code Indicator level is set as Y.
   Narrative	Displays the default narrative as FX Purchase Against Account, and it can be modified.

3. Specify the charge details. For information on the fields in the Charge Details segment, refer to Charge Details.
4. Specify the FX In Denomination details. For information on the fields in the Denomination Details segment, refer to Add Denomination Details.
5. Click Submit.
   A teller sequence number is generated, and the Transaction Completed Successfully information message is displayed.

   Note:

   The transaction is moved to authorization in case of any approval warning raised when the transaction saves. On transaction completion, the teller's cash position gets incremented based on the amount bought.

   In addition, the corresponding foreign currency cash is deposited for an equivalent amount of credit in the customer's account. For more information on transaction submission and validations, refer to Step 5 in Cash Deposit.