1. Generic Wires ISO User Guide
  2. Generic Wires ISO Outbound Transaction
  3. Outbound Transaction Processing
  4. Settlement Instruction

Settlement Instruction

  • If the ‘SSI Label’ value is inputted during manual input / given in the SPS request, the system validates whether ‘SSI Label’ is valid or not by checking the label value for the combination of Customer, Network Code, and Transfer Currency combination in the Settlement Instruction Maintenance (PMDSSIMT). If there is no valid ‘SSI Label’ found, the transaction moves to Settlement Review Queue (PQSSSIQU):
    • If value of SSI Handling field = Default & Verify. The transaction moves to a Settlement Review Queue (PQSSSIQU) for user verification.
    • If value of SSI Handling field = Default Only. Since, there is no verification is required, the transaction moves to Settlement Review Queue.
    • If value of SSI Handling field = Not Required. Since, there is no verification is required, the transaction moves to Settlement Review Queue.
  • If the ‘SSI Label’ value is not inputted / not given in the SPS request, the system does the SSI defaulting based on the Settlement Instruction preference (i.e., SSI Handling field) maintained at the Source level (PMDSORCE):
    • If value of SSI Handling field = Default & Verify. If the transaction is received without SSI label and if default SSI label is available for the Customer, Network Code, and Transfer Currency combination in Settlement Instruction Maintenance (PMSISMNT), then the routing details are fetched, and the system updates the transaction with routing details. The transaction moves to a Settlement Review Queue (PQSSSIQU) for user verification.
    • If value of SSI Handling field = Default Only. If the transaction is received without SSI label and if default SSI label is available for the Customer, Network Code, and Currency, the system fetch the routing details from default SSI label. Since, there is no verification is required, the transaction moves to Settlement Review Queue.
    • If value of SSI Handling field = Not Required. Default SSI label pick up is not applicable for transactions received from this source.
  • "For Outbound transaction booked via SPS, if Customer ID is not given in the request and only SSI Label is present, the system derives the Customer ID from the debit Account and does the SSI Label validation.
  • "The Outbound transaction get enriched with 'SWIFT ISO Routing' information maintained in the Settlement Instruction for the SSI Label. Below details of the transaction get enriched:
    • Creditor Details : Party details for pacs.008 (FI to FI Customer Credit Transfer) and Agent details for pacs.009 (FI Credit Transfer).
    • Creditor Account Details
    • Creditor Agent Details
    • Instructed Agent Details
    • Charge Bearer
    • Payment Type Information
    • Service Level Details
    • Instruction for Creditor Agent
    • Other Agent details - Reimbursement Agents / Intermediary Agents
    • Remittance Information

Parent topic: Outbound Transaction Processing