2.2.7 Bank Dtls Tab

This topic provides the systematic instructions to specify the bank details for corporate investors in the Unit Holder Maintenance Detail screen.

You can specify any number of preferred bank accounts for an investor, for each currency, but you must designate one of these to be used by the investor as the default bank account for making or receiving payments for a combination of payment mode, transaction type, fund Id and transaction currency.

You can also specify the bank details for a combination of payment mode, fund, transaction type and currency for each unit holder maintained in the system. In addition, you can also maintain the routing details for the combination.

During transaction entry, the payment bank details to be used for the unit holder will be picked up based on the combination of payment mode, fund, transaction type and transaction currency.

1. On Unit Holder Maintenance Detail screen, click Bank Dtls tab.
   The Bank Details are displayed.

   Figure 2-8 Unit Holder Maintenance Detail_Bank Details Tab

   
   

   
   Description of "Figure 2-8 Unit Holder Maintenance Detail_Bank Details Tab"

   
   
2. On Bank Dtls tab, specify the fields.
   For more information on fields, refer to the field description table.

   Table 2-10 Bank Dtls - Field Description

   Field	Description
   Fund ID	Alphanumeric; 6 Characters; Optional Select the ID of the fund.
   Transaction Type	Alphanumeric; 3 Characters; Optional (Mandatory if Fund ID is specified) Specify the type of transaction. Alternatively, you can select the transaction type from the option list. The list displays all valid transaction type maintained in the system. Note: If no IDs is maintained for the Unit Holder, then system will take the banking instructions for dividend payment maintained at Unit Holder Maintenance Detail screen (UTDUH). If no Dividend Payment banking instructions is maintained for the Unit Holder in Unit Holder Maintenance Detail screen (UTDUH) then the system will take the banking instructions for All transaction types/funds.
   Bank	Alphanumeric; 12 Characters; Mandatory Select the name of the bank in which the account is held from the list.
   Branch	Alphanumeric; 12 Characters; Mandatory Select the name of the branch of the bank in which the account is held from the list.
   Default	Mandatory Use this check box to identify the bank account that is to be reckoned as the default bank account for the investor in the system. In the desired row, check this box. Note: For HSBC customers, accounts for a specific currency and payment type combination can be marked as default accounts only if they are maintained for All funds and All transaction types. Also, for a currency where the default has already been specified, other accounts maintained for specific funds and specific transaction types for the same currency cannot be designated as the default account for that currency. In case the default account for a particular payment type and currency combination has not been maintained and you designate an account maintained for a specific fund and transaction type as the default account, the system displays the following message (at the time of saving unit holder details) Default accounts can be maintained only for fund All and transaction type All. For Default Account Maintenance for various Currency and Payment Type, refer to the table Table 2-11.
   Direct Debit Applicable	Optional Select Yes to indicate if whether direct debits are allowed for the account.
   Bank Details	The section displays the following fields.
   Account Type	Alphanumeric; 1 Character; Mandatory Select the nature of the account held by the investor from the list. The list provides all account types that have been set up in the Account Type Maintenance records.
   Account Type Description	Display The system displays the description for the selected account type.
   Account Number	Alphanumeric; 34 Characters; Mandatory Specify the number of the account held by the unit holder in the selected bank.
   Payment Type	Optional You can select the payment type whether it is Self or Third Party from the drop-down list.
   Last Name	Alphanumeric; 105 Characters; Optional If you select the Account Category field as Self then the Last Name and Initials will be defaulted.
   Identification Type	Alphanumeric; 20 Characters; Optional Select the identification type from the option list.
   Identification Number	Alphanumeric; 50 Characters; Optional Specify the identification number of the identification type.
   Relationship	Alphanumeric; 40 Characters; Optional The system displays the relationship status.
   Description	Display The system displays the description for the selected relationship status.
   IBAN	Alphanumeric; 40 Characters; Optional Specify the International Bank Account Number (IBAN) of the account holder. Note: If you select the Account Category field as Third Party, the system will not verify the third party bank accounts using the details such as Initials, Identification Number and so forth.
   Account Name	Alphanumeric; 140 Characters; Mandatory Specify the name in which the investor holds the specified bank account. By default, the system reckons this to be the specified name of the unit holder, and the same is displayed here. It will be accepted into the database as the account holder’s name if you do not specify any other.
   Account Currency	Alphanumeric; 3 Characters; Mandatory Select the currency of the bank accounts that you are designating for the unit holder. You can maintain any number of accounts in each currency; however, you must designate one default bank account for each currency. The system also allows you to maintain Multi-Currency (MCY) accounts for unit holders/ agents. The system uses this account if payment currency account is not available. As with accounts in other currencies, you can have multiple accounts for MCY. You should, however, specify one as the default one to be used for payments.
   Account Currency Description	Display The system displays the description for the selected account currency.
   Initials	Alphanumeric; 10 Characters; Optional Specify the initials of the unit holder.
   UH BIC Code	Alphanumeric; 24 Characters; Optional Specify the UH BIC Code.
   Routing Details	FCIS provides the option to capture the bank routing details as well while maintaining the bank details. At the time of transaction input, the routing details specified here are picked up for the combination of fund, transaction type and transaction currency.
   Swift Format	Optional Select the format of the Swift message from the drop-down list. The options are: MT 103 MT 202
   Bank Charged	Optional Indicate whether the bank charges must be levied upon the beneficiary, the emitter or must be shared between the two.
   Beneficiary Account Category	The section displays the following fields.
   Beneficiary	Alphanumeric; 35 Characters; Optional Specify the beneficiary details.
   Beneficiary Address1-3	Alphanumeric; 105 Characters; Optional Enter beneficiary address.
   Beneficiary IBAN	Alphanumeric; 40 Characters; Optional Specify the beneficiary IBAN details.
   Beneficiary BIC Code	Alphanumeric; 24 Characters; Optional Enter beneficiary BIC code.
   Beneficiary Account Number	Alphanumeric; 34 Characters; Optional Enter beneficiary Account Number.
   Beneficiary Code	Alphanumeric; 24 Characters; Optional Enter beneficiary code.
   Beneficiary Info	Alphanumeric; 100 Characters; Optional Enter beneficiary information.
   Intermediary Details	The section displays the following fields.
   Intermediary	Alphanumeric; 35 Characters; Optional Enter the intermediary details.
   Intermediary Address 1-3	Alphanumeric; 105 Characters; Optional Enter intermediary address.
   Intermediary IBAN	Alphanumeric; 40 Characters; Optional Enter intermediary IBAN details.
   Intermediary BIC Code	Alphanumeric; 24 Characters; Optional Enter intermediary BIC code.
   Intermediary Account Number	Alphanumeric; 34 Characters; Optional Enter intermediary account number.
   Intermediary Code	Alphanumeric; 24 Characters; Optional Enter intermediary code.
   Intermediary Info	Alphanumeric; 100 Characters; Optional Enter intermediary information.
   Further Credit Details	The section displays the following fields.
   Further Credit Name	Alphanumeric; 35 Characters; Optional Enter further credit name.
   Further Credit Account Number	Alphanumeric; 35 Characters; Optional Enter further credit account number.
   Reference Section	The section displays the following fields.
   Reference 1-2	Alphanumeric; 35 Characters; Optional Enter the reference details.

   Example on Default Account Maintenance for various Currency and Payment Type

   Consider the following table which shows the default account maintenance for various currency and payment type combinations.

   Table 2-11 Default Account Maintenance for various Currency and Payment Type

   Payment Mode	Fund ID	Transaction Type	Currenc y	Default Account?
   Transfer	ALL	ALL	HKD	Yes
   Transfer	ALL	ALL	MCY	Yes
   Payment Mode	Fund ID	Transaction Type	Currency	Default Account?
   Transfer	Fund 1	02	HKD	No
   Transfer	Fund 1	02	MCY	No

   Here, for the currencies HKD and MCY and payment mode transfer, you can maintain different accounts as the default account (for the All funds and All transaction type combination).

   You cannot, however, maintain the account specified for Fund 1 and Transaction type 02 as the default account for the currencies MCY and HKD and Payment mode Transfer.