Update Transaction Type

Introduction

This option allows the bank administrator to update the transaction type features maintained in the application.

Navigation

• Click View/Update in the List of Transaction Types screen.

• The Update Transaction Type 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

Transaction Category

The transaction category for the selected record is displayed.  This is a non editable field.

Transaction Type

The transaction type of the selected record is displayed. This is a non editable field.

Initiator Type

Indicates the initiator type allowed for the selected transaction type. The options available include Own Accounts and Third Party.

Note:

This field is mandatory. More than one record can be selected by holding down Ctrl key.

Initiator Account Type

Indicates the type of accounts from which such transaction types can be initiated. The options available include Operative, Loan and Deposit accounts.

Note:

This field is mandatory. More than one record can be selected by holding down Ctrl key.

Initiator Bank Type

Indicates the type of bank to which the initiator account must belong to for the specified transaction type. The options available include Own Bank and Other Banks.

Note:

This field is mandatory. More than one record can be selected by holding down Ctrl key.

Counter Party Type

Indicates the type of counter parties allowed for the particular type of transaction. The options available include Own Accounts in Home Bank, Own Accounts in Other Bank, Third Party Accounts in Home Bank,  Personal Payees, Payment and Presentment Billers, Shopping Mall Payees, Employees and Debtors.

Note:

This field is mandatory. More than one record can be selected by holding down Ctrl key.

Counter Party Account Type

Indicates the type of accounts of the counter party allowed for initiating the transactions. The options available include Operative, Loan and Deposit accounts.

Note:

This field is mandatory. More than one record can be selected by holding down Ctrl key.

Counter Party Region

Indicates the region to which the counter parties allowed for the transaction type belong to. The options include Domestic and International.

Note:

This field is mandatory. More than one record can be selected by holding down Ctrl key.

Payee/Debtor Bank Type

Indicates the type of banks to which the accounts of the counter party defined is allowed to belong to.  The options available include Home Bank and Other Bank.

Note:

This field is mandatory. More than one record can be selected by holding down Ctrl key.

Counter Party ID

Any specific counter party can be associated with the transaction type being defined, by specifying the counter party IDs here.

Network

Indicates the networks allowed for the transaction type. The options may include ACH, SWIFT, RTGS, Within Bank and No Network.

Note:

This field is mandatory. More than one record can be selected by holding down Ctrl key.

Purpose

Select the purpose allowed for the transaction type from the list screen. The values for this field can be created under COCD type TXP.

Note:

This field is mandatory. More than one record can be selected by holding down Ctrl key.

Transaction Limits Applicable

Indicates whether transaction limits should be applied for the transaction type, can be indicated through the check box.

Maximum number of entries in a transaction

Specify the maximum number of entries allowed for the transaction type.

Note:

This field is mandatory.

Hot Payment Allowed

Indicates whether hot payment to be allowed for the transaction type, can be indicated through the check box.

Scheduling Allowed

Indicates whether scheduling of transactions to be allowed for the transaction type, can be indicated through the check box.

Recurring Allowed

Indicates if recurring type of transaction to be allowed for the transaction type, can be indicated through the check box.

Maximum scheduling period (in days)

The maximum period (in days) for which this transaction type can be scheduled.

Notification for Payment Required

Select the appropriate radio button to activate the payment notification for the transaction type.

Valid Values:

Yes

No

Note:

• While creating transaction types, bank user can specify if a transaction type should be enabled for Payment Notification or not.

  Enables the user to notify the beneficiaries/ payees on the payments initiated. While initiating payments, if the user wants the payee to be notified on the payment, the user can mention the required channel details and notify the payee. For example, user can choose SMS as a channel; mention the relevant mobile number and submit for notification. The payee would receive the message for the payment done on the specified mobile number.

• If this flag is set to YES then the users will be enabled to set notification for the specific transaction type.

• Payee notification can be enabled for all payable transaction types based on bank configuration.