Initiate Collection - Add New Entry

Introduction

This screen lets the retail user to:

• Add one more transaction, if incase user is making multiple transactions. User has to enter the similar transaction details as in Initiate collections screen.

• View the transactions already added to the list

• Edit any transaction in the transaction list by selecting the corresponding transaction from the Entries Added list

• Mark and unmark the transactions for delete option

• Save the transactions for later usage

Navigation

• Click Add New Entry in the Initiate Collection screen.

• The Initiate Collection - Add New Entry screen is displayed.

What you can do

The table below provides a brief description of the data that should be entered on the screen and the functions you can perform:

Field

Description

COMMON DETAILS

Frequency Type

The drop-down list contains the options:

• One time

• RecurringIf the Frequency Type is selected as Recurring, then the following additional fields are to be provided in addition to the transaction date and transaction currency
  Frequency: This can be ‘Daily’ or ‘Weekly’ or ‘Monthly’ or ‘Yearly’ or ‘Quarterly’. Based on the requirement, the frequency can be chosen.
  Number of installments: Provide the number of times the funds transfer has to be recurring
  Validity Indicator: This decides when the transfer needs to be initiated in case the date of recurring falls on a holiday. The possible options are
  - Next Valid Date
  - Previous Date
  - Skip

Based on the requirement the user can prefer to do one time or recurring transfer.

Transaction Date

The date of transaction can be selected form the calendar widget. If current date is provided then it is considered as an instantaneous transfer else scheduled. Back dated transactions are not possible.

Validity Indicator

The validity indicator as selected by customer will be displayed.  For example, Next, previous or skip valid date.

Note:

If there is a currency holiday, based on the validity indicator the date is recalculated.

Transaction Currency

The transaction currency is displayed.

Manual Release Required

The retail user can select this check box in case, the user wants to hold the transaction for some reason and later release the transactions for posting.

Highest Entry Amount

The highest entry amount in the transaction batch is displayed.

Total Transaction Amount

The total transaction amount of the transaction batch is displayed.

Total Charge Amount

The total charge amount of the transaction batch is displayed.

Total Amount

The total of transaction amount and the charge amount is displayed.

Total Number of Entries

The total number of entries in the transaction batch is displayed.

ADD ENTRY DETAILS

INITIATOR DETAILS

Account

The retail user can select the origination account (Dr Account) from the drop -down. If the values in the account drop-down increase beyond a pre-configured value, then the drop-down will be changed to lookup.

Click View Account Details to view the details of the account selected.

Remark

Enter the remarks about the origination entry.

COUNTER PARTY DETAILS

Counter Party

The counterparty is the debtor from whom the consumer has to get the payment.

A Look Up button is provided to fetch the list of debtors. Consumer can also add a new counterparty through Add Counterparty.

Amount

Enter the transaction amount. In case, the transaction is a multi currency transaction, then click Check Counter Rate to view the exchange rate.

Network

Select the applicable network for the transaction. Click View Applicable Networks to get the list of networks applicable for the transaction type.

Mandate ID

The mandate ID. Click the link to view the details of the mandate.

Remark

Specify the remarks about the destination entry.

Commission/Charge Indicator

This field is used only in case the counter party type is My accounts in other banks.

Valid Values:

Shared (shared between home bank and other bank)

Their (other bank)

Our (home bank)

Transaction Purpose

From the drop-down, select the appropriate purpose for the funds transfer transaction.

Field

Description

ENTRIES ADDED

Check box

Select the corresponding record or records.

Entry Id

Specifies the entry id for the corresponding transaction. Entry ID will be unique for each of the transactions in the transaction list.

Initiator detail

Specifies the debit account ID.

Network

Specifies the network used for the transaction.

Counter party detail

Specifies the credit account ID.

Charge

Specifies the charge involved for the corresponding transaction.

Entry Amount

Specifies the amount involved in the transaction.

Total Amount

Specifies the total amount for the corresponding transaction i.e. Charge + Entry amount.

Marked for deletion

Specifies whether the corresponding transaction is marked for deletion or not.