1. Line Origination User Guide
  2. Funding
  3. Contract Tab
  4. ACH Sub Tab

8.12.12 ACH Sub Tab

The ACH sub screen records details about automatic clearing house, if this is a direct deposit payment account; otherwise, it remains empty. This information is used to receive payments, primarily when working with the Payments screen.

To complete the ACH
  1. Open the Funding screen and load the application you want to work with.
  2. On the Funding screen, click the Contract tab, then choose the ACH sub tab.
  3. In this section, you can perform any of the Basic Operations mentioned in Navigation chapter.
    A brief description of the fields is given below:

    Table 8-19 ACH

    Field Do this
    Bank Name Specify the bank name.
    Routing # Specify the routing number.
    Payment Mode
    For an active Recurring ACH record, the payment mode selected in Contract tab is automatically populated. If not, select the type of repayment mode to indicate the type of Autopay/Direct Debit using any of the following option from the drop-down list. The list is populated from REPAYMENT_PMT_MODE_CD lookup code.
    • AUTOPAY (ACH)
    • AUTOPAY (CREDIT CARD)
    • AUTOPAY (DEBIT CARD)

    For an AUTO PAY type of Payment Mode, ensure that at least one active ACH record exist and for CHECK type of Payment Mode, there are NO active ACH records.
    Status Select the required ACH status from the drop down list. By default, the ACTIVE status is selected.
    Default By default, this check box is selected indicating that the current ACH is the default one. If not, you need to uncheck the same.
    Start Dt Specify the ACH start date. By default the first payment date of the contract is auto populated and can be edited.
    End Dt Specify the ACH end date.
    Account Type Select the account type.
    Account # Specify the account number. Note: If the organizational parameter UIX_HIDE_RESTRICTED_DATA is set to Y, this appears as a masked number; for example, XXXXX1234.
    BIC Select the Business Identifier Code from the drop-down list. The list displays the BIC codes defined in the system.
    IBAN

    Specify the IBAN (International Bank Account Number). IBAN is used for identifying bank accounts across national borders with a minimal of risk of propagating transcription errors.

    Ensure that value entered satisfies the check-digit validation based on modulo 97. On save, system automatically validates the IBAN number length based on country code, characters, white spaces, and checksum. Validation is also done during posting non-monetary transaction (ACH Maintenance).

    You can maintain the IBAN length and other details required as per the country code in the user defined table (Setup > Administration > System > User Defined Tables).

    Note: IBAN for NL country code (IBAN_FORMAT_NL) is defined by default with length of IBAN as 18.

    Pmt Day Specify the payment day. By default the payment due day specified for the contract is auto populated and can be edited.
    Pmt Amt

    Specify the payment amount. By default the payment amount decided for the contract is auto populated and can be edited.

    Note: If the payment amount is specified as ZERO, system will automatically consider the EMI amount.

    Pmt Amt Excess Specify the additional payment (if any). This is the additional amount over and above the regular EMI. Appropriation of this amount is based on the Spread defined in the contract.
    Pmt Freq Select the payment frequency. By default the bill cycle frequency defined for the contract is auto populated and can be edited.
  4. Perform any of the Basic Actions mentioned in Navigation chapter.
  5. If there are more than one ACH banks and an optional End Date, click Add and repeat steps 3 through 5.

Parent topic: Contract Tab