1. Bills and Collections User Guide
  2. Automatic Processes
  3. Processes Running during Beginning of Day (BOD)
  4. STP of MT400 – Advice of Payment
  5. Deriving the Debit Account

8.4.6.1 Deriving the Debit Account

The system utilizes the following SWIFT tags to derive the debit account from the settlement instructions sequentially:
  • 57 (Account with Institution)
  • 54 (Receiver correspondent)
  • 53 (Sender correspondent)

In case the system does not find any of the three tags, it derives the debit account from the BIC of the sender of the message. The system then updates the tags 52, 53, 54, 57 and 58 in the settlement subsystem maintained for the Nostro account. STP of MT400 results in authorized or unauthorized liquidation record based on the post upload status you have maintained in the ‘Upload Source Preferences’ screen.

When an MT400 message is uploaded, the system checks for the following:
  • The contract status should be ‘Active’, or the system will reject the record.
  • The amount specified in field 33 should not be more than the amount specified in the field 32A; else the system will reject the record.
  • If field 32A is present: The system will reject the record if one of the following is true:
  • The currency code in field 32A does not match the currency of the bill.
  • The amount acknowledged in field 32A is greater than the bill amount.
  • The maturity date in the field 32A does not match the maturity date in the bill.
If field 32B is present: The system will reject the record if one of the following is true:
  • If the currency code in field 32B does not match the currency of the bill
  • The amount acknowledged in field 32B is greater than the bill amount
If field 32K is present: The system will reject the record if one of the following is true:
  • The currency code in field 32K does not match the currency of the bill.
  • The amount acknowledged in field 32K does not match the bill amount.

Parent topic: STP of MT400 – Advice of Payment