Multi Currency Account is the Parent account and it can have multiple child accounts linked to it with different currencies allowed for the customer:

• Main account (multi currency) which is the parent account will be listed in External Account Maintenance (STDCRACC) and the child accounts linked to it will be mapped separately against each parent account.
• Multi Account Type and Child Account Type are classified as ‘M’ and ‘C’ respectively.
• All Payment/collection/instrument processing transactions can be initiated by selecting Account Type - ‘Multi Currency’.
• In Transaction input screens, systems allows to select ‘multi currency’ parent account from the list of values in ‘Customer Account’ field.
• User can select ‘Multi-Currency’ parent account with required account currency, as all the child accounts currencies will be displayed in list of values.
• Payment need not be initiated only with Transfer Currency while selecting multicurrency account. It is not mandatory. System will validate whether child account with account currency input is available for the multi account chosen.
• The Transfer Currency (instrument currency for clearing) is defaulted as the Account Currency, if the Multi Account is input or received from payment Webservices without Account Currency.
• When the Transfer Currency is different from Account Currency, Exchange Rate fetch will be applicable.
• External Credit Approval (ECA) / External Account Check (EAC) and Accounting handoff will indicate the Account Currency.