Ensure that the beneficiary’s name on incoming transactions matches account records, helping to prevent errors, enhance compliance, and reduce the risk of fraudulent or misdirected payments.

• The name in the Creditor Name field for pacs.008 messages, or the name in the Creditor Account Name field for pacs.009 messages, if received in the message or entered during transaction input is matched against the Account Description of the resolved credit account in the External Customer Account Input (STDCRACC) screen.
• If the name does not match the account description, then the validation is done based on the additional names maintained for the account in the Customer Account Name Match (PMDCUSNM) screen.
• If the Beneficiary Name Match Required flag in the Generic Wires ISO Inbound Network Preferences (PSDIGWNP) is enabled, the system performs beneficiary name match validation.
  • If the flag is set to No, beneficiary name match validation is not done.
  • If the flag is set to Yes, the Beneficiary Validation Currency and Beneficiary Validation Amount fields are also checked.
• For no values are specified for the Beneficiary Validation Currency and Beneficiary Validation Amount fields, the beneficiary name match is done for all inbound transactions.

If values are specified in these fields, the transfer amount is converted to the equivalent Beneficiary Validation Amount.

The equivalent amount is compared against the Beneficiary Validation amount.