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Funds Transfer

Process Flow

Step 1: Charge Rule Creation

 

Enter CFDICCFR in fastpath and input the following fields.

 

  • Rule ID: Provide a rule ID of your choice.

  • Branch Restrictions: Click 'Disallow'

  • Description: Enter a relevant description to create the charge rule.

 

  • Click Save

 

The record will get saved. Please provide the screenshot of it.

 

Note down the rule ID created in this step. You will be using it in the next while maintaining the charge rule.

Access link http://10.0.106.98:7001/FCJNeoWeb/LoginServlet using the credentials provided to you.

 

A charge or fee is a payment that banks levy on customers in exchange for advices or services rendered by the bank. In Funds Transfer (FT), charge rule creation is performed to charge a fee for transferring funds.

 

 

Step 2: Charge Rule Maintenance

 

Enter CFDRUMNT in fastpath and enter the following fields.

 

  • Rule Type: Charge/Fees

  • Transaction Currency: ALL

  • Branch Code: ALL

  • Rule ID: Enter the Rule ID which you provided while creating Charge Rule. (CFDICCFR Screen)

  • Customer Group: ALL

  • Customer: ALL

 

  • Check the checkbox "Tenor Basis" and uncheck "Tiered Amount"

  • Check the checkbox "As per contract currency"

  • Basis Amount Currency: PHP

  • Charge Currency: PHP

 

Move to "Tenor Details"

 

  • Add a record in "Bracket Tenor" by clicking "+" symbol.

  •  

  • Basis Amount To: 999,999,999,999

  • Flat CCF Amount: 5

 

Add a record in "Tenor Based Rates" by clicking "+" symbol.

 

  • Tenor From: 0

  • Tenor To: 9999

  • Flat Amount: 5

  • Click Save

 

The record will get saved. Please provide the screenshot of it.

A charge rule is built with the logic to calculate a specific type of charge component. In other words, the attributes for the rule must be defined in the ‘Interest Charge Commission Fee’ Rule screen.

 

 

Step 3: Charge Class Maintenance

 

Enter CFDOCHCL in fastpath and input the follwoing fields.

 

  • Class Code: Provide a rule ID of your choice.

  • Description: Enter a relevant description for class code.

  • Module: FT

  • Rule ID: Provide the same rule ID that you created in CFDICCFR screen.

  • Component Description: Enter a relevant description for class code creation.

  • Amount Type: TFR_AMT

  • Settlement Currency: PHP

  • Category: Normal

  • Event: Book

 

  • Click Save

 

The record will get saved. Please provide the screenshot of it.

 

Note: While performing reversal, repeat Charge Rule creation, Charge Rule maintenance and Charge Class maintenance for creating an entry for Reversal Charge.

 

Make sure that the right charge fee is included.

A class is a specific type of component that you can build with certain attributes. You can build a charge class, for instance, with the attributes of a specific type of charge, such as 'Charges for amending the terms of a transaction', or 'Charges for provision of services'. To recall, a charge rule is built to calculate a specific type of charge component.

 

 

Step 4: Product Creation

 

Enter FTDPRMNT in the field at the top right corner of the application tool bar and clicking the adjoining arrow button.

 

Input the following fields.

 

  • Product Code: Enter a 4 character product code of your choice.

  • Product Description: Provide a relevant description

  • Product Type: N

  • Slogan: Internal Funds Transfer

  • Product Group: FTINT

  • Start Date: 09/30/2011

  • Remarks: Provide a relevant remarks to create a fund transfer product.

 

 

Click "Accounting Roles" tab

 

  • Click + to add a record

  • Accounting Role: Choose the class code that you created followed by INC. Eg: If your class code is FTCLASS then you have to choose FTCLASSINC.

  • Account Head: 433000000

  • Click OK

 

Click "Events"  tab

 

Click "+" symbol to add events described below:

  • AMND

  • BOOK

  • INIT

  • RATE

  • REVR

  • SGEN

 

Include 'Accounting Entries' and 'Advices' for those the event INIT. Refer to the snapshot.

 

(Make sure you input your class code in accounting role and amount tag. The screeshot is only for reference)  

 

Click "Preferences" tab

 

  • Rate Type: Standard

  • Rate As Of: Value

  • Other Preferences: Check the checkboxes "Future Value Allowed" and "Cross Currency Allowed" 

  • Charge Details: Check the checkbox "Allow change in contract"

  • Back Value Details: Check the checkboxes "Dr Back Valuation Check Required" and "Cr Back Valuation Check Required"

  • Dr Back Value Days: 360

  • Cr Back Value Days: 360

  • Under Rate Variance, Override Limit: 3

  • Maximum Limit: 100

  • Rekey Required: No

  • Duplication Recognition: Check the checkboxes Product Code, Dr Value Date, Dr Amount

  • Click Ok

 

Click 'Branch Currency' tab

 

  • Choose 'Allowed' in 'Currency Restrictions'

  • Click "+" to add a new record in 'Currency' column

  • Under 'Currency Code', choose PHP

  • Click Ok

 

Click "Charges" tab

 

  • Click "+" to add a new record

  • Component: Choose the Rule ID that you initially created

 

  • Click OK

 

  • Click Save

 

Few warnings will be displayed. Click Ok. The record will get saved and authorized. Please provide the screenshot of it.

For any product a user creates, the general attributes of it such as the branch, currency, customer restrictions and so on has to be defined. Those are done in product creation.

This is the screen where you mention the parties and the amount to be transferred.

Step 5: Contract Creation

 

Choose Branch 007 and enter FTDTRONL in fastpath.

 

Input the following fields.

 

  • Click New

  • Enter the product code that you created and click "P"

  • Debit Amount: As per business case

  • Credit Amount: As per business case

  • Debit Account: Choose the account number provided to you

  • Credit Account: Choose the account number provided to you

 

  • Click Save

 

 

Few warnings will be displayed. Click Ok. The record will get saved.

 

Note down the Contract Reference Number.

Step 6: Contract Authorization

 

Login as a supervisor or checker to authorize the transaction. (Credentials would have been provided to you)

 

Choose Branch 007

 

Enter FTDTRONL in fastpath.

 

  • Click Enter Query.

  • Input the contract reference number.

  • Click Execute Query.

  • Click Authorize.

 

In the Authorize window, check "Generate Message" and click Authorize. 

Provide the screenshot of it.

 

Note:

  • For business case 2, after authorizing the transaction reverse the transaction and authorize it.

  • Perform the reversal steps as explained in the reversal steps.

  • After performing the reversal steps, create a  new contract with the same debit account number but the correct credit account number which is credit account number 2 as per the credentials and account details provided to you.

 

Step 7: Checking Customer Balance

 

Enter STDCUSBL in fastpath.

 

Input the following fields.

 

  • Branch Code: 007

  • Account Number: Enter the account number from which the amount was debited.

 

Under transactions, you will see the amount debited along with the transaction fee

 

Do the same for credit account number, too!

 

Provide a screenshot of it.

 

After performing reversal action, check the account balances of both parties and provide a screenshot to show the reversal charge and the amount being credited back to the debit account number. 

 

In otherwords, provide screenshot of both credit and debit accounts before and after reversal.

 

Steps to perform reversal:

 

The following are intended to be performed only for business case 2 where a reversal is required. Perform the following steps after authorizing the contract.

 

Step 1:

Use the same charge rule that you created for Business Case #1. But create a new charge for reversal action.

 

Step 2:

Perform rule maintenance for the reversal charge similar to the charge rule maintenance that you created for Business Case #1. Make sure you mention the right fee for reversal action.

 

Step 3:

Create a class code for the reversal charge.

 

Step 4:

  • Go to FTDPRMNT screen. Click 'Enter Query'. Type your product name for business scenario 2 that you created. Click 'Execute Query'. Update the product by clicking 'Unlock' button and perform the steps below. 

    • Create a record for reversal class code in ‘Accounting Roles’ tab. Choose any ‘Account Head’. Refer to the screenshot below for your reference.

 

  • Create an accounting entry for reversal class code in ‘Events’ tab for the Event Code ‘REVR’.

 

  • In Charges tab, add the reversal class code apart from the funds transfer fee charge as well.

 

  • Create a new contract with debit account number and right credit account number which is account (2).  Provide the screenshots in customer balance account of debit account and credit account numbers 1 and 2 by highlighting the account balances, reversal action and charges.

 

Note: The screenshots and demo are just for your reference. Please do not input the same values as shown in screenshot and demo.

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