Electronic foreign currency payments, LUM2

Transcription

1 Electronic foreign currency payments, LUM2

2 Contents 1 Electronic foreign currency payment service Service agreement and testing Agreement Testing File transfer and processing Feedback retrieval File processing Compilation and transmission of files Bank checks the file File check in further processing Back-up and security Printouts Schedules Payments Feedback Data and record description LUM Data content Electronic foreign currency payments (LUM2) Batch record Payment record Supplementary payment record Supplementary feedback to customer Invoice record Information shown on the payer s account statement... 16

3 Electronic foreign currency payments (LUM2) 1 Electronic foreign currency payment service To process payments with the electronic foreign currency payment service, you begin by selecting payments from your purchase ledger into your banking program, or entering them one by one. Send the payment file with the banking program to s (hereinafter Nordea Bank or the bank ) file transfer service. The bank transmits payments; sends you receipt data of the payment orders in electronic feedback and/or on account statement; provides / prints out cheques to the customer. You are informed of rejected payments in electronic feedback and on a paper printout, which is available at your Nordea branch. Electronic foreign currency payments are transmitted in accordance with the bank's general terms and conditions for transmission of payments valid at any given time. The only data allowed in the due date fields is the debit date of the entire file or a single payment. If these fields include numeric data, which the bank interprets as a future due date, the payment will be processed on the debit date entered in the said field. The bank is not liable for direct or indirect damage caused by an incorrect debit date. Instructions on payments data content can be found in the Electronic Foreign Currency Payments, Country-specific bank connection information service description, which can be printed out at 2 Service agreement and testing 2.1 Agreement The customer and Nordea Bank make a written agreement on the service. When signing the agreement, you agree with the bank on the starting date for the service, the file type to be used (LUM2), usage of electronic feedback, and contact persons. If you want to change the file type later, or add or delete debiting accounts, you must notify the bank. The general terms governing outgoing foreign currency payments apply to the transfer of electronic foreign currency payments. You must notify the bank of any changes in the above information. October

4 2.2 Testing You can test transfer to the bank and retrieval of test feedback using your own LUM2 files. Payments that are processed with Nordea software, such as Multibank or Banking program, need no testing. The below instructions concern files sent to the bank via other bank connection programs File transfer and processing Please contact the E-support for corporate customers in advance to arrange testing. You must have a valid agreement for the electronic foreign currency payment service, and the agreement must include the latest details of the accounts you want to use with payment files. To ensure that files are only transferred to test processing, the password TESTI must be entered in the transfer request. Instructions for file transfer can be found in the File transfer service description available at If you have questions concerning file transfer, please contact the E-support for corporate customers. The system retrieves the appropriate exchange rates valid on the processing day and processes payments on the day they are sent. The bank automatically includes the following information in feedback: The supplementary record in LUM2 files states the SWIFT code = XXXXXXXXXXX in field 8, and TESTBANK in field 9. The foreign value date is +2 regardless of the payment type. The supplementary feedback record in LUM2 files states the beneficiary bank s SWIFT code = XXXXYYYYYYY in field 4, TESTBANK in field 5, and NOTICES TO THE CUSTOMER in field Feedback retrieval Feedback is run in batches in the evening and feedback files are ready for retrieval the following morning. If you retrieve feedback using a transfer request and the password TESTI, test feedback will be provided immediately. Note! If you don t give a date, you will receive all of your test files, that is, also the older files. If you are unable to enter the password TESTI, you should contact the E-support for corporate customers and agree on a time when files will be available for retrieval. After this you can retrieve them as usual. Note! If you have production files that you haven t retrieved, you can get both the production and test feedback with one request. October

5 3 File processing 3.1 Compilation and transmission of files The payer selects the foreign currency payments from its purchase ledger; groups together invoices payable to the same beneficiary, and deducts credit notes from debit notes and transmits payments in net sums. Payments are processed either as immediate payments or on a future debit date, which can be no later than 60 days from the transfer date. A future debit date may apply to an entire file or to single payments. A debit date defined for an entire file always overrides debit dates defined for single payments within the file. If the debit date you have entered is not a banking day, the payment will be debited on the following banking day. If the counter value of a payment in a currency exceeds the bank s foreign exchange trading limit, the program will automatically execute the payment at the market rate. When making immediate payments, you can execute the trade and agree on the rate yourself. If the rate has been agreed over the phone, the number of the agreement must be entered on the payment. The bank always gives an exchange rate automatically for payments debited on a future due date. A debiting account must be indicated for each payment. Transmitted payment files cannot be cancelled. As an exception, you may request a single payment to be cancelled if the payment has not yet been sent for processing. This requires a written authorisation. For further details on cancelling payments, please contact the E-support for corporate customers. 3.2 Bank checks the file The service verifies upon reception that files are correct and checks from the customer s agreement if the customer has informed the bank that it will send its files for electronic currency payments protected with PATU. Correct payments are forwarded for further processing. You receive an acknowledgement of the reception and of the number of payments included, as well as the checked currency totals. If a file or a single payment is incorrect and consequently rejected, you are notified accordingly in the acknowledgement message. If an entire file is rejected, the number of payments in the acknowledgement is 0. Note! Payments can also be rejected in further processing. Therefore, it is essential that you also retrieve the electronic feedback. You can inquire the status of transmitted files by a status query (file type: STATUS). If a file or its identification data cannot be identified, or a file is sent without protection even if the customer has notified in the agreement that it will send its files protected with PATU, the connection to the bank cuts off. In unclear cases contact the E-support for corporate customers. October

6 3.3 File check in further processing If a single payment is incorrect, the payment is rejected and the reason is given in electronic feedback and on a paper printout, which is printed at your Nordea branch. Electronic feedback is generated after the whole file has been processed. If payments cannot be transmitted because of errors, you must send a new, corrected file to the bank. Foreign currency payments are debited on the debit date from the account you have indicated. Payments with a future due date will be debited in the morning of the debit date. Your account must have sufficient cover at that time. The funds in the debiting account must cover the total sum of the entire file. If the account lacks cover, the payment will be held over until the next cover check. If the cover remains insufficient throughout the day, the bank will notify you accordingly the following banking day. The customer is liable for currency risks caused by payments rejected due to insufficient cover. If a file is sent in correct form but the content has errors, and the payment is sent on to the beneficiary, the payer must settle the matter with the beneficiary. 3.4 Back-up and security You must keep an electronic copy of all files you send to the bank until you receive notification of successful transfer, either in electronic feedback or on account statement. 4 Printouts Receipt data is delivered in electronic feedback and/or on account statement. Electronic feedback generated for electronic foreign currency payments is in the same form as the file you sent. The file is complemented with payment-specific countervalues and exchange rates according to the record description. Electronic feedback is available for retrieval after the whole file has been processed. If the file includes payments with different due dates, feedback cannot be retrieved until the last payment has been processed. October

7 5 Schedules 5.1 Payments Payment files are processed on banking days in the order they arrive to the system. Payments received by are processed during the same day. Exceptions are New Year s Eve Maundy Thursday On these days payments must arrive at the bank by Payments received between and are processed during the same day, if possible. If you prefer payments not to be processed on the transmission day, the file should not be transferred to the bank until after Feedback Electronic feedback is available for retrieval after all payments in a file have been processed. On banking days, feedback is updated many times between 9.00 and The last update is at Feedback files are stored in the file transfer service for 62 days. October

8 6 Data and record description LUM2 6.1 Data content The structure of the record description is the same for files and feedback. The following characters are allowed: the letters from A to Z, both upper case and lower case, numbers from 0 to 9, and the characters / -? : ( )., + and space. The following characters are not allowed as the first character in a field: -, space and /space. It is recommendable to use the letter U instead of the lower case letter ü. The following characters are not allowed as the first character in a field: -, blank and /blank. It is recommendable to use the letter U instead of the low case letter ü. Obligatory fields in files are marked with an asterisk (*) next to the field number. The field E/P indicates whether the field is used for file transfer or feedback. The field is used only when sending files to the bank (E) only for feedback (P) both for sending files to the bank and in feedback (EP) auxiliary fields may be numeric or alphanumeric Empty alphanumeric fields are filled with blanks and empty numeric fields with zeros. October

9 6.2 Electronic foreign currency payments (LUM2) Batch record, record code = 0 Payment record, record code = 1 Supplementary payment record, record code = L (optional) Supplementary feedback record to customer, record code = P Invoice record, record code = 2 (optional) Sum record, record code = Batch record Field Name Mandatory Format Length E/P Content 1 Application code * AN 4 EP LUM2 VLU2 in feedback 2 Record code * N 1 EP 0 3 File type * N 1 EP 0=file 9=feedback 4 Reserved for further use AN 1 EP 5 Payer s Business Identity Code (BIC) * AN 11 EP With leading zeros and without a hyphen 6 Customer code extension AN 5 EP 7 Reserved for further use AN 2 EP 8 Acceptance code N 1 P 0=accepted 4=rejected 9 Creation time of file/feedback * N 10 EP yymmddhhmm 10 Reserved for further use N 14 EP 11 Debit date N 8 EP yyyymmdd 12 Reserved for further use AN 542 EP Total 600 Field descriptions Field 6 Field 9 Field 11 The customer code extension can be used for classifying the different divisions or offices of a company as independent service users. If the extension is not required, the field is left empty. Each file must be given a creation time which differs from other files. If two batch records in two different files have the same creation time, and the beneficiary s name, currency code, amount and the first line of the information field are identical in the first payment in both files, the second file is regarded as a duplicate and rejected. The due date on which the payer wants payments to be executed. If the due date is no more than five (5) banking days in the past, the file is forwarded to the next run; more than five (5) banking days in the past or more than 60 calendar days in the future, the entire file is rejected. If the date is missing or replaced by zeros, the payment-specific due dates will be applied to the payments. October

10 6.2.2 Payment record Field Name Mandatory Format Length E/P Content 1 Application code * AN 4 EP LUM2 VLU2 in feedback 2 Record code * N 1 EP 1 3 Acceptance code N 1 P 0=accepted 4=rejected 5=deleted 4 Beneficiary s name and address * AN 140 EP 4 x 35 5 Beneficiary s country code * AN 2 EP 6 BIC code of beneficiary s bank AN 11 EP 8 or 11 characters 7 Name and address of beneficiary s bank AN 140 EP 4 x 35 8 Beneficiary s account number AN 34 EP 9 Reason of payment for information of beneficiary AN 140 EP 4 x Currency amount of payment * N 15 EP 13 integers Currency code (ISO standard) * AN 3 EP 12 Reserved for further use AN 3 EP 13 Exchange rate agreement no. AN 14 EP 14 Payment type * AN 1 EP M=payment order P=urgent payment Q=SWIFT cheque S=cheque T=transfer between accounts in Nordea Finland K=transfer between own accounts in Nordea Finland 15 Service fee * AN 1 EP J or T 16 Debit date AN 8 EP ddmmyyyy 17 Countervalue of payment N 15 P 13 integers Exchange rate of payment N 11 P 5 integers Debiting account * N 14 EP 20 Currency code of debiting account * AN 3 EP 21 Debited amount N 15 EP 13 integers Archive ID or reason for rejection AN 20 P 23 Feedback currency AN 1 EP 24 Reserved for further use AN 3 EP Total 600 October

11 Field descriptions Field 3 If a payment is rejected, the reason for rejection is given in field 22. Field 4 Field 5 Field 6 Field 7 Field 8 The first character in the beneficiary s name and address field must not be blank. The rest of the field can be in free form. It is recommendable to enter beneficiary s name in the first two lines and address in the next two lines. Beneficiary s country code. If the BIC code of beneficiary s bank is missing, enter the country code of beneficiary s bank. BIC code of beneficiary s bank. Payments are routed according to this address. The BIC code includes the country of beneficiary s bank. We recommend you always give the BIC code. If the country has an internal clearing system, e.g. CH (Chips), FW (Fedwire), the first line must begin with a double slash, followed by the clearing code without spaces (//CH123456). This data is part of beneficiary s bank information. If you are using an IBAN account number, don t enter the clearing code. If an invoicer's account number is given as an IBAN (International Bank Account Number), enter it in this field in electronic format. An example of a Dutch IBAN: NL91ABNA Nordea s file transfer checks that the beneficiary s IBAN is in the correct format. Payments having an incorrect IBAN for the beneficiary will be rejected. The SWIFT code of the beneficiary s bank shall always be used when the IBAN is used. Field 10 Field 13 Field 14 Field 15 Field 16 Field 10 and field 21 are alternative. If the currency amount of the payment is 0, the debited amount field (field 21) can be used. The number of the exchange rate agreement between the customer and the bank. Enter it beginning from the left. The obligatory part is CUD ( = at sight deal) + 7 digits; in forward deals FWD + 7 digits. As the agreed rate will be applied automatically on the basis of the exchange rate agreement number, it need not be stated separately in the payment. T = account transfer, i.e. a foreign currency payment from an account to another in Nordea Bank Finland. K = own transfer, i.e. a group or company s internal account transfer between its own accounts in Nordea Bank Finland. J = payer and beneficiary pay the expenses of their respective banks (SHA) T = payer also pays the expenses of beneficiary s bank (OUR) Payment-specific debit date of the payment. If the date is: no more than five (5) banking days in the past, the payment is processed in the run closest to reception; more than five (5) banking days in the past or more than 60 calendar days in the future, the payment is rejected. If the date is missing or replaced by zeros and no file-specific debit date has been given, the payment will be processed in the run closest to reception. Field 21 The debited amount can be given if the currency amount of the payment (field 10) is 0. The amount given in this field indicates the amount, which will be debited from the account in the account currency. October

12 6.2.3 Supplementary payment record Field Name Mandatory Format Length E/P Content 1 Application code * AN 4 EP LUM2 VLU2 in feedback 2 Record code * AN 1 EP L 3 Acceptance code N 1 P 0=accepted 4=rejected 5=deleted 4 Debit rate N 11 P 5 integers Reserved for further use N 20 EP 6 Instructions for the bank AN 350 EP 10 x 35 7 Customer s comments AN 50 EP BIC code of receiving/cheque bank AN 11 P 9 Name and address of field 8 AN 70 P 2 x Payment number AN 14 P 11 Value date of foreign bank AN 8 P ddmmyyyy 12 Nordea Bank s service fee N 15 P 13 Debiting account for service fee N 14 P 14 Reserved for further use AN 31 EP Field descriptions Total 600 Field 6 Field 7 Field 10 Free-form payment instructions to the bank; for instance, payment instructions concerning several banks. Customer s own comments. The customer can save information for its own systems, for example to allocate payment details transmitted in feedback. Note! Only the first 16 characters show on the account statement. The number issued for the payment by the bank; used with inquiries concerning the payment and stated in feedback. Fields 12 and 13 Not included in feedback. October

13 6.2.4 Supplementary feedback to customer Field Name Mandatory Format Length E/P Content 1 Application code * AN 4 P VLU2 2 Record code * AN 1 P P 3 Acceptance code N 1 P 0=accepted 4=rejected 5=deleted Data amended or added at Nordea Bank 4 BIC code of beneficiary s bank AN 11 P 5 Beneficiary s bank AN 140 P 6 Account number of beneficiary s bank N 34 P 7 BIC code of intermediary bank AN 11 P 8 Name/address of intermediary bank 9 Account number of intermediary bank AN 140 P N 34 P 10 Information to customer AN 210 P 6 x Reserved for further use AN 14 P Field descriptions Total 600 Fields 6 and 9 Account numbers are not shown in customer feedback. October

14 6.2.5 Invoice record In the invoice record you can enter the details for each invoice. The invoice record contains the data of one invoice. By using the invoice record you will get the exchange rate stated separately for each invoice. The currency of each invoice record must be the same as the currency indicated in the payment record. If invoice records do not match with the payment record, the whole payment will be rejected. If an invoice record is rejected, the payment record and all related invoice records will also be rejected. Field Name Mandatory Format Length E/P Content 1 Application code * AN 4 EP LUM2 VLU2 in feedback 2 Record code * N 1 EP 2 3 File type * N 1 EP 0 or 9=feedback 4 Acceptance code N 1 P 0=accepted 4=rejected 5=deleted 5 Currency code * AN 3 EP 6 Invoice type * N 1 EP 0=invoice 2=credit note 7 Currency amount * N 15 EP 13 integers Payment rate N 11 P 5 integers Countervalue N 15 P 13 integers Invoice number for customer s ledger AN 20 EP 11 Reserved for further use N 8 EP 12 Customer s comments AN 50 EP 1 x x Reserved for further use AN 470 EP Field descriptions Total 600 Field 7 The total currency amount of invoices is given in this field (information from field 10 in the payment record. October

15 6.2.6 Sum record Field Name Mandatory Format Length E/P Content 1 Application code * AN 4 EP LUM2 VLU2 in feedback 2 Record code * N 1 EP 9 3 File type * N 1 EP 0 or 9=feedback 4 Reserved for further use AN 1 EP 5 Payer s BIC * AN 11 EP 6 Customer code extension AN 5 EP 7 Reserved for further use AN 2 EP 8 Acceptance code N 1 P 0=accepted 4=rejected 9 Number of payments * N 5 EP 10 Number of invoices N 5 EP If there are invoice records 11 Currency amount of payments * N 15 EP 13 integers Reserved for further use AN 549 EP Field descriptions Total 600 Field 11 The total foreign currency amount of payments, without the currency code (information from field 10 in the payment record). Note! The information is also checked from field 21 in the payment record if a debited amount has been entered in the field (fields 10 and 21 of the payment record are added). October

16 7 Information shown on the payer s account statement Part of the information in the record description of outgoing foreign payments is shown also on the account statement. The information shown on the beneficiary s account statement varies from bank to bank. The following information is shown on the payer s account statement: Beneficiary s name and address (field 4 in the payment record) BIC code of beneficiary s bank (field 6 in the payment record) Name and address of beneficiary s bank, if no BIC code has been given (field 7 in the payment record). 3x35 characters of the information in this field are shown on the account statement. National clearing code, if no BIC code has been given (field 7 in the payment record). 3x35 characters of the information in this field are shown on the account statement. Reason of payment for information of beneficiary, (field 9 in the payment record) Payment type, (field 14 in the payment record) Countervalue of the payment (field 17 in the payment record) Exchange rate of payment, (field 18 in the payment record) Debiting account, (field 19 in the payment record) Currency code of debiting account (field 20 in the payment record) Amount debited from account, (field 21 in the payment record Archive ID, (field 22 in the payment record) Debit rate, (field 4 in the supplementary payment record) Customer s comments, (field 7 in the supplementary payment record). The first 16 characters of the information in this field are shown on the account statement October