1. Payments Core User Guide
  2. Payment Maintenance
  3. BIC Cutoff
  4. Inbound BIC Cutoff
  5. Inbound Payments - Date Derivation

Inbound Payments - Date Derivation

For inbound payments, date derivation works as below for the payment types - ACH, Cross Border, RTGS:

Instruction Date
  • It is derived as the latest of Payment Value Date, Cover Value Date or Received Date.
  • Credit Float days is added to this defined date.
  • Debit and Credit currency holiday check is done on this and Instruction date is moved forward, if it falls on a holiday.

Note:

Received date is considered based on the preferences maintained in Customer Preferences Detailed (PMDFLPRF) and Cover Match Preferences Detailed (PMDCMPRF) screen. Refer to these screens for more details.

Activation Date
  • Activation date is derived as Instruction date - Settlement days (as defined in PXDINCOF).
  • Derived activation date is pushed to previous working day, in case this falls on a branch holiday.
  • If Activation date goes beyond current date, then activation is set as current date. In turn, the instruction date is reset as current activation date + settlement days.

Credit Value Date

This will be same as Instruction Date derived.

Debit Value Date

This is the date received in 32A tag of payment message or cover message, if applicable.

Parent topic: Inbound BIC Cutoff