1. SEPA Direct Debits User Guide
  2. Collections Exception Transactions
  3. Inbound Collections Refund

Inbound Collections Refund

An incoming collections transaction can be requested for refund by the debtor bank, post its settlement. The debtor bank initiates the same based on the debtor customer request or due to debtor bank internal reasons.

Refund is initiated on or after the value date of the incoming collection transaction. Thus, the transaction is liquidated by then.

To originate the refund for incoming collections, this screen is used. Provision to mark the refund type as authorized or unauthorized is available.

  1. On Homepage, specify PCDIRFND in the text box, and click next arrow.
    Inbound Collections Refund screen is displayed.

    Figure 5-38 Inbound Collections Refund

    Screen
  2. On Inbound Collections Refund screen, specify the fields.
    For more information about the fields, refer to field description below:

    Table 5-12 Inbound Collections Refund - Field Description

    Field Description
    Refund Reference Systems generates the Reference Number on clicking New button.
    Refund Date System defaults the Current Date by default.
    Refund Status System defaults the Refund Status from the following:
    • Not Initiated (Default)
    • Initiated
    Original Transaction Reference Specify the Transaction Reference from the list of values of the initiated transactions.
    Refund Type System defaults the Refund Type from the following:
    • Authorized
    • Unauthorized

    Note:

    Authorized refunds are validated based on Refund period maintained in the Network preferences for transaction type ‘Incoming’.

    Unauthorized refunds are validated based on Unauthorized Refund period maintained. It is mandatory to maintain the reason code for unauthorized refunds as ‘MD01’.
    Transaction Branch Specify the Transaction Branch.
    Host Code This field gets auto-populated with the Host Code of the specified branch code on clicking New button.
    Network Code This field gets auto-populated with the Network Code of the specified branch code on clicking New button.
    End to End Identification Specifies the End to End transaction Identification.

Parent topic: Collections Exception Transactions