Registration of Remittance - Inward
Remittance-inward instrument type is used for entering Inter-bank remittances received. A Remittance- inward record can be paid later when the beneficiary approaches the bank for payment.
The following additional steps are applicable to the instrument issue process flow for supporting Remittance-Inward:
Initial Validations
Additional mandatory validations for Remittance -Inward:
- Issuer Bank Code is defaulted based Instrument code. Issuer Branch is mandatory and should be one of the Branch maintained for issuer bank code in PIDEXTBK.
- Payable Bank Code is own bank code and Payable branch is one of valid branch codes of the Host. If the values are received in the request system validates the same. If the values are not available system defaults the own Bank code as Payable Bank Code and Branch code as transaction branch.
- Instrument Number (Serial number) is mandatory and should be unique for the instrument code derived.
- Debit account is fetched as the account/GL maintained for the issuer bank code in PIDEXTMT.
Test Key Validation
System checks whether Test key maintenance is available for the Issuer bank code and the Instrument Code in Test Key maintenance.
If Test key maintenance is available, system validates the Test Key. If the Test Key is not available or if the validation fails, the transaction is rejected.
Parent topic: Processing Remittances