Holiday Check
For transactions received from channels or bulk file, if the payment value date falls on a local branch holiday, then based on network preferences the value date is moved forward to nearest working date. A message is displayed on transaction booking to indicate the value date change. Initial value date will be stored as instruction date internally.
If transaction value date is a future date, then transaction processing follows future dated transaction specific process flow.
For a current dated transaction, processing is done during transaction authorization in the following order:
- Sanction Check
- Charge processing, if applicable
- Exchange Rate pickup
- External Credit Approval/External Account Check
- Debit /Credit entry hand off
Currency Holiday check is applied on both debit and credit account currency.
However, currency holiday is not applied on following cases:
- External Exchange Rate is not opted at Network.
- External Exchange Rate is opted at Network, but, transfer amount is less than the Small FX Limit and FX Reference no is not specified in the transaction.
Parent topic: Book Transfer Processing