3.3 Outbound Transaction Processing

Outbound payments follows the below listed processing steps:

• Bank Re-direction
• Account Re-direction
• D to A Conversion
• Account Derivation
• IBAN Validation
• Cross Border to RTGS Rule Evaluation
• Date Derivation
• PSD Validation
• Customer Payment Restriction Validation
• Duplicate Check
• Special Instructions Validations
• Authorization Limit Validations
• Processing Cutoff Validation
• EU Payer Validation
• Sanction Check Validation
• Exchange Rate/FX Processing
• Pricing
• External Credit Approval Processing
• Accounting
• Messaging
• MIS & UDF
• Transaction Cancellation Processing
• Future Date Transaction Processing
• Cover via RTGS Network

• Bank Re-direction
  The system checks the Bank Redirection maintenance (PMDBKRED) for any redirections maintained against the Bank Codes mentioned in the transaction. If there are any redirections maintained, the Redirected Bank Code replaces the Original Bank Code in the transaction.
• Account Re-direction
  The system checks the Account Redirection maintenance (PMDACRED) for any redirections maintained against the accounts mentioned in the transaction. If there are redirections maintained, the redirected account replaces the original account in the transaction.
• D to A Conversion
  The system converts party details (Name and Address) to BIC when records are maintained in D to A Converter maintenance PMDDAMNT.
• Account Derivation
  The system validates the Debit Account against the External Customer Account Input STDCRACC to check whether the account is valid (Open / Authorized).
• Ordering Customer Population
  
• IBAN Validation
  
• Cross Border to RTGS Rule Evaluation
  
• Date Derivation
  
• PSD Validation
  
• Customer Payment Restriction Validation
  
• Duplicate Check
  
• Field 72 Codeword Validation
  
• Special Instructions Validations
  The Special Instructions Detailed (PXDSIMNT) screen checked for any valid (Open/ Authorized) special Instruction maintained against the Debit Account.
• Authorization Limit Validations
  
• Processing Cutoff Validation
  
• EU Payer Validation
  The EU Payer validation applies only for Customer Credit Transfer transactions.
• Sanction Check Validation
  
• Exchange Rate/FX Processing
  
• Pricing
  
• External Credit Approval Processing
  
• Network Cuttoff Check
  
• Accounting
  The ‘Debit Liquidation’ & ‘Credit Liquidation’ accounting codes maintained in Network Currency Preferences (PMDNCPRF) for the Host code, Network code, Transaction Type ‘Outgoing’ and Transfer Currency combination are applicable for posting the accounting entries.
• Messaging
  
• MIS & UDF
  
• Transaction Cancellation Processing
  
• Future Date Transaction Processing
  
• Cover via RTGS Network