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

Outbound Collections Refund

An outgoing collections transaction can be requested for refund by the debtor bank, after settlement. The debtor bank will send a pacs.004 message for the same. On uploading this message following activities are triggered by the system:
  • File level accounting is posted for pacs.004 entries as debit Clearing Suspense GL and credit Nostro with RCLG event.
  • The corresponding outgoing collection transaction is marked as refunded.
  • The accounting entries posted on the transaction is reversed, as debit customer account and credit Clearing Suspense GL.

You can originate the refund for outgoing collections in this screen. You can mark the refund type as authorized or unauthorized.

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

    Figure 5-14 Outbound Collections Refund

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

    Table 5-4 Outbound 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 ‘Outgoing’.

    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