NEFT Outbound Payments - Returns Processing
Return of outgoing payment is received in the same message as N02 incoming payment transaction.
Processing of Incoming N02 Return
Incoming N02 messages can be received as result of any outgoing payment being returned by beneficiary bank.
| R-transactions | Message type | First Level Matching | First Level Matching | Second level Matching (provided first level is successful) | Second level Matching (provided first level is successful) |
|---|---|---|---|---|---|
| -- | -- | Field No/ Field Name | Original transaction field | Field No/Field Name | Original transaction field (N06) |
| Return of Outgoing Payment | N02 | :2006 Related Reference Number | Transaction Reference Number (N06) |
:4038 Amount 5756: Sending branch’s IFSC 6305: Sending customer a/c type 6021: Sending customer a/c # 6091: Sending customer a/c name 5569: Beneficiary branch’s IFSC 6310: Beneficiary customer a/c type 6061: Beneficiary customer a/c # 6081: Beneficiary customer a/c name |
Transfer Amount Bank Code (Our IFSC Code) Debtor Account Type Debtor Account Number Debtor Name Beneficiary Bank Details > IFSC Code Beneficiary Account Type Beneficiary Account Number Beneficiary Name |
On finding a parent match, a return transaction is internally created. Return reference, return date, reason code (:6346 field) and rejection reason (:6366) are stored for the returned transaction.
EAC check is performed before accounting handoff for the reversal. There is no sanction check.
Return accounting entries are processed with value date as return processing date. Charges applied as part of original transaction are reversed.
Original transaction status is updated as ‘Returned’. Return details are captured for the original transaction and are available for view.
| Dr/Cr | Account | Value Date | TXN_CCY |
|---|---|---|---|
| Dr | Clearing GL | Return Processing Date | Account Currency |
| Cr | Intermediary GL | Return Processing Date | Transfer Currency |
| Dr | Intermediary GL | Return Processing Date | Transfer Currency |
| Cr | Customer Account | Return Processing Date | Transfer Currency |
Parent topic: NEFT Outbound Return Payments