1. Generic Wires ISO User Guide
  2. Generic Wires ISO Inbound Transaction
  3. Inbound Transaction Processing
  4. Loan Account Processing
  5. Transaction Cancellation/Return

Transaction Cancellation/Return

External Credit Approval

  • As part of this cancellation, an ECA request is sent to the loan system with the loan account reference and loan payment reference sent in the request.
  • The loan payment system is expected to validate the loan account reference and loan payment reference and whether the loan payment can be reversed or not and send the response accordingly.
Accounting
  • In the accounting handoff sent to loan system, reversal indicator flag is set as Yes.
  • Transaction reference is sent as user reference number.

Parent topic: Loan Account Processing