1. Generic Wires ISO User Guide
  2. Generic Wires ISO Outbound Transaction
  3. Outbound Transaction Processing
  4. Settlement Method/Account Derivation

Settlement Method/Account Derivation

For SWIFT CBPRPlus transactions, the system defaults Settlement Method / Settlement Account based on the correspondent account resolved or account inputted.

Settlement Method
  • Value 'COVE' is populated when a cover message is also sent (Applicable for pacs.008)
  • Value 'INDA' is populated when the correspondent Account is of type Nostro - In Currency Correspondent Maintenance (PMDCYCOR), the Account Type value is 'OUR'
  • Value 'INGA' is populated when the correspondent Account is of type Vostro - In Currency Correspondent Maintenance (PMDCYCOR), the Account Type value is 'THEIR'
Settlement Account
  • When the Settlement Method is 'INDA', the external account maintained in the Reconciliation External Account maintenance (PMDEXACC) against the correspondent Account will be populated in the outgoing message only,
    • If more than one external account maintenance is done in Reconciliation External Account Detailed (PMDEXACC) screen.
    • If one external account is maintained in Reconciliation External Account Detailed (PMDEXACC) screen with Flag "Populate Settlement Account in Sender Correspondent” checked.
  • For the pacs.008 message where Settlement Method = "COVE", the Settlement Method, Settlement Account values population in the pacs.009 cover message follows the same logic as given above.
  • The system checks for Settlement Accounts having account type (in PMDCYCOR maintenance) as “OUR” (i.e., Settlement Method = INDA) in the Reconciliation External Account maintenance (PMDEXACC).
  • The system populates External Accounts maintained in the Reconciliation External Account Detailed (PMDEXACC) screen against the Our Nostro Account in the outgoing message only:
    • If the system, does more than one external account maintenance in Reconciliation External Account Detailed (PMDEXACC) screen.
    • If the system maintains one external account in Reconciliation External Account Detailed (PMDEXACC) screen with a flag checked for “Populate Settlement Account in Sender Correspondent”.
    • The system does not populate the Settlement Account if the account type is “OUR” and maintains one external account in the Reconciliation External Account Detailed (PMDEXACC) screen with a flag unchecked for populating an external account.
    • For Settlement Accounts having account type “THEIR” (i.e., Settlement Method = INGA), the system populates the Settlement Account with the Vostro Account.
  • For the pacs.008 message where Settlement Method = “COVE”, the Settlement Account population in the pacs.009COV payment follows the same logic as given above for Settlement Method as “INDA”/”INGA”.

Parent topic: Outbound Transaction Processing