2.42 Process AGY Bank Account Mapping Detail

This topic provides the systematic instructions to designate the collection centers and payout accounts.

Maintain Collection Centers and Payout Accounts

The agency branch maintains accounts in banks that serve as collection centers for receipt of payment for inflow transactions from unit holders. Also, it maintains payout accounts to which payment for outflow transactions would be directed, from where unit holders could cash their payment instruments. Maintenance of collection center accounts and payout accounts is necessary as the default local accounts would not be able to service all unit holders who subscribe to the funds of the AMC.

From each collection center bank and payout bank, the agency branch receives a list of zip codes serviced by the banks. The system uses the maintained accounts and the zip code information while printing payment instruments for outflow transactions or pay-in slips for inflow transactions, to direct them to collection or payout banks that service the unit holders’ zip code.

For instance, if your AMC’s local branch is in London, you would maintain a default collection center and payout account with a London-based bank. However, to service investors of your AMC in Dover, you would need to maintain a collection center and payout account with a bank based in Dover, on a correspondent basis.

For details on how the collection center account or the payout account is reckoned for a transaction, refer topic Printing Checks and Pay-in Slips in the Dividend Maintenance of Oracle® FLEXCUBE Investor Servicing system.

For each agency branch, in Oracle® FLEXCUBE Investor Servicing, you can maintain the appropriate collection center accounts as well as payout accounts to be used. You can assign a default collection center, and a default payout account. You can also maintain other collection center accounts and correspondent payout accounts, to service investors whose zip code is different from any codes serviced by the local default accounts.

Maintain Collection Center Accounts

In the AGY Bank Account Mapping Detail screen, you can maintain collection center accounts for a combination of:

• Agency branch module ID
• Inflow transaction type (either subscription or IPO)
• Payment mode or sub payment mode
• Fund ID

This would mean that you could maintain collection centers for each agency branch, to receive payments through any mode, from unit holders for subscriptions or IPO transactions into each fund.

1. On Home screen, type UTDAGYBN in the text box, and click Next.
   The AGY Bank Account Mapping Detail screen is displayed.

   Figure 2-53 AGY Bank Account Mapping Detail

   
   

   
   Description of "Figure 2-53 AGY Bank Account Mapping Detail"

   
   
2. You need to specify the following information in the AGY Bank Account Mapping Detail screen for each collection center account.
   • The code of the bank and branch collection center
   • The type of account maintained in the collection center bank or branch
   • The currency of the account
   • The number of the account and the owner of the account
   • Whether the account is the default collection center account for the agency branch, transaction type, payment mode and fund ID combination.
   You must maintain at least one default collection center account.

Maintain Default and Correspondent Payout Accounts

3. You can maintain payout accounts for a combination of in the AGY Bank Account Mapping Detail screen.
   • Agency branch module ID
   • Outflow transaction type (either redemption, switch out or transfer)
   • Payment mode
   • Fund ID
   This would mean that you could maintain payout accounts for each agency branch, to direct payments to unit holders through any mode, for outflow transactions from each fund.
4. You need to specify the following information in the AGY Bank Account Mapping Detail screen for each payout account.
   • The code of the payout bank and branch
   • The type of account maintained in the payout bank or branch
   • The currency of the account
   • The number of the account and the owner of the account
   • The limit placed on the payment amount directed to the bank for a transaction. If this limit is exceeded, a demand draft payment would have to be made.
   • Whether the account is the default payout account for the agency branch, transaction type, payment mode and fund ID combination. You must maintain at least one default payout account.
   • The correspondent bank accounts to which payment would be directed, if the zip code of the unit holder receiving the payment is not serviced by the payout bank
5. Click Details button to maintain correspondent bank details.
   The Correspondent Bank Details Section screen is opened.
6. Maintain the same details as for a payout account, with a limit amount.
7. On AGY Bank Account Mapping Detail screen, click New to enter the details.
   For more information on fields, refer to the field description table.

   Table 2-54 AGY Bank Account Mapping Detail - Field Description

   Field	Description
   AGY Bank Branch Details Maintenance	The section displays the following fields.
   Module ID	Alphanumeric; 30 Characters; Mandatory Select the module (agency branch) for which you are designating the collection center or payout account in this screen.
   Transaction Type	Alphanumeric; 15 Characters; Mandatory Select the type of outflow transaction for which you are designating the payout account, or the type of inflow transaction for which you are designating a collection center, in this screen.
   Payment Mode	Alphanumeric; 2 Characters; Mandatory Specify the mode of payment for which the collection center is applicable, for the selected module and transaction type. For redemption transactions, the payment mode is not applicable.
   Fund ID	Alphanumeric; 6 Characters; Mandatory Specify the fund for which the collection center or payout account is applicable, for the selected module, transaction type and payment mode.
   Bank Details	The section displays the following fields.
   Bank	Alphanumeric; 12 Characters; Mandatory Specify the code of the bank that is being designated as a collection center or a payout bank. The collection account or the payout account must reside in this bank.
   Branch	Alphanumeric; 12 Characters; Mandatory Specify the code of the branch of the bank that is being designated as a collection center or a payout bank. The collection account or the payout account must reside in this branch of the selected bank.
   Account Type	Alphanumeric; 1 Character; Mandatory Specify the type of the collection or payout account.
   Account Currency	Alphanumeric; 3 Characters; Mandatory Specify the currency of the collection or payout account.
   IBAN	Alphanumeric; 40 Characters; Optional Specify the International Bank Account Number (IBAN) of the account holder.
   Account Holder Name	Alphanumeric; 100 Characters; Mandatory Specify the name of the owner of the collection or payout account.
   Account Number	Alphanumeric; 34 Characters; Mandatory Specify the number of the collection or payout account.
   Limit Amount	Numeric; 22 Characters; Mandatory Specify the value of the limit placed on payouts to the payout account. If the value of the payment exceeds this value, a demand draft payment must be made. For payments below this value, check payments may be made.
   Default Account	Optional You can use this field to indicate whether the specified account is deemed to be the default collection or payout account for the selected module, transaction type, payment mode and fund combination. Select this box to indicate that it is the default account, or leave it unselected to indicate that it is one of the other accounts.
   Correspondent Bank Details	The section displays the following fields.
   Bank Code	Alphanumeric; 12 Characters; Optional Specify the code of the bank that is being designated as a correspondent bank for the collection center or a payout bank. The correspondent collection account or the payout account must reside in this bank.
   Branch Code	Alphanumeric; 12 Characters; Optional Specify the code of the branch of the bank that is being designated as a correspondent bank for collection center or a payout bank. The correspondent collection account or the payout account must reside in this branch of the selected bank.
   Account Type	Alphanumeric; 1 Character; Optional Specify the type of the correspondent collection or payout account.
   Account Currency	Alphanumeric; 3 Characters; Optional Specify the currency of the correspondent collection or payout account.
   Account Number	Alphanumeric; 34 Characters; Optional Specify the number of the correspondent collection or payout account.
   Account Holder Name	Alphanumeric; 100 Characters; Optional Specify the name of the owner of the correspondent collection or payout account.
   Limit Amount	Numeric; 22 Characters; Optional Specify the value of the limit placed on payouts to the correspondent payout account. If the value of the payment exceeds this value, a demand draft payment must be made. For payments below this value, check payments may be made.
   Correspondent IBAN	Alphanumeric; 40 Characters; Optional Specify the International Bank Account Number (IBAN) of the account holder.