Full details are available in Features by Geography.
As part of ANZ’s commitment to enhance the digital experience for our customers for Foreign Exchange (FX) products, we are migrating suitable customers from ANZ FX Online to ANZ Transactive – Global. This article sets out additional background and relevant information in relation to the migration and more broadly ANZ Transactive – Global.
The transition to ANZ Transactive – Global will provide you with the ability to undertake your Institutional banking services on a single platform. ANZ Transactive – Global offers a range of enhanced services and features, underpinned by enhanced security, which have been designed to simplify your banking experience.
This migration will broadly involve:
- Migrating approved and active beneficiary accounts;
- Registering your ANZ FX Online available accounts that are not currently set-up in ANZ Transactive – Global; and
- Migrating active user accounts and their underlying permissions.
Note the Administration features and settings in ANZ Transactive – Global are more enhanced than ANZ FX Online, with greater controls in place to minimise risk and increase security to ensure you, your company, and your business processes are protected.
We strongly recommend you undertake the post migration actions and checks, particularly around your Administration settings, to ensure a frictionless transition.
Have you completed these actions and checks?
ANZ recommends you undertake a series of checks post migration to ensure correct set-up on ANZ Transactive – Global.
- Confirm your ability to log into ANZ Transactive – Global (if a first-time user) and access the Foreign Exchange menu and the Payments > Account Transfer and International Payment menus (if entitled).
- Confirm your entitled users can create a FX Contract and generate a FX quote; and create an International Payment with migrated beneficiaries and link an existing FX contract (if available).
- Your Administrators should review and confirm:
- users that are authorised to release payments have the appropriate permissions and security devices (ANZ Digital Key/physical Token);
- user’s role entitlements remain appropriate, particularly for Cash Management products. Please check all Cash Management roles and permissions assigned to a user, paying attention to the payment approval discretion limits. This impacts your ability to approve payments. ANZ Transactive - Global offers enhanced security measures as ANZ FX Online did not apply limits. Please review to ensure they are appropriate and in line with your business requirements.
- payment Authorisation Matrix are per requirements.
- Confirm migrated beneficiaries are showing correctly in the Beneficiaries list and showing correctly in the Search Beneficiary list when creating an International Payment.
- Intermediary Bank details and Payment Templates have not been transitioned. If you need to specify beneficiary Intermediary Bank details, please ensure these are included in the payment Beneficiary Payment Details pop-up. Alternatively, you can create an International Payment Template containing this information for future use.
- Migrated users familiarise themselves with the extensive online help content, including video demonstrations, that is available for ANZ Transactive – Global.
You can operate the application via web and mobile devices, where features and functions are available based on your user entitlements.
To learn more about ANZ Transactive – Global, speak with our ANZ Sales Team or ANZ Customer Service Centre or visit the ANZ Transactive - Global.
- Set your desired landing page to display as your unique home screen
- Customise your home screen for immediate visibility of key information and tasks, such as access to your favourite account balances and payments pending approval. For more information refer to the Workspace article.
- Schedule and email regularly-accessed reports (e.g., balance and transaction reports)
- Create email notifications for common tasks such as when payments need approval, beneficiary updates and more
- Send a proof of payment advice to a beneficiary using the Email Beneficiary Advice option
- View and track the status of international payments to confirm receipt in near real-time; also view and download a MT103 message copy
- Enhanced security with Two-Factor Authentication (2FA) via a physical Token or through the ANZ Digital Key application
- Use ANZ Digital Key on your mobile to approve payments, direct debits and trade instruments initiated across multiple ANZ channels and products
The Foreign Exchange menu is used to create and manage FX contracts, including pre-deliveries and extensions (where authorised). These contracts can then be settled by you via Account Transfers and/or International Payments available in the Payments menu. Once a payment is created, it will require approval by an appropriately entitled user. This workflow is a key point of difference in how FX Contracts and Payments are managed in ANZ FX Online versus ANZ Transactive – Global.
Other key points to note, include:
- In ANZ Transactive-Global, all Chinese currency is denoted as CNY regardless of whether it is onshore or offshore
- Pre-delivery and Extension of FX Contracts is available via bespoke buttons in the Manage Contracts screen
- To utilise a FX contract in a payment, the contract needs to have the same value date as the payment
- Past Contracts can be viewed in the Past Contracts screen and are limited to a three-month window within the last 13 months from the current days date. For FX Contracts older than 13 months, contact your ANZ FX Sales Dealer who can assist you.
- FX confirmations will continue to remain in ANZ eMatching for eligible customers and can be accessed via the Applications menu
For further comprehensive information regarding Foreign Exchange on ANZ Transactive – Global, including an instructional video, please read these articles.
An Account Transfer allows you to move funds based on your Available Balance between two ANZ accounts that you have registered in ANZ Transactive – Global.
- For AU customers, any AUD accounts and/or authorised foreign currency accounts you have registered to debit in ANZ FX Online that are not currently registered in ANZ Transactive - Global, will be migrated.
- For NZ customers, any accounts including third-party accounts you have registered to debit in ANZ FX Online, that are not currently registered in ANZ Transactive - Global, will be migrated.
An International Payment is a payment from a single funding account to one or more nominated beneficiary accounts worldwide using an ANZ-supported and tradeable currency.
Key points to note include:
- Account Transfers and International Payments can be created for both value today and future dates. Amounts can be specified in either the payment currency or the debit currency.
- For Account Transfers, the debit account needs to be a locally domiciled ANZ account (e.g., in Australia – an ANZ Australia account).
- There are two options for FX Rate Types: Dynamic which will be an indicative rate until the FX transaction is accepted; and Contract which you can use to select from one or more of your existing FX contracts (recommended approach):
- To utilise a FX contract in a payment, the contract needs to have the same value date as the payment
- Up to nine FX contracts can be added to a payment unless you select Use Dynamic Rate for Remaining Amount. In this case, only eight contracts can be added.
- A Dynamic Rate can also be used for any remaining amounts if you need additional funds not covered by your linked contract(s)
- When using Dynamic Rate, the total amount and debit amount will be indicative and based on a non-transactable daily mid-rate as noted in the disclaimer. Note that this is not your dealing rate.
- After a payment is reviewed, it is submitted for approval and approved by an appropriately entitled user. The final approver will need to digitally sign the payment via a security device.
- For Dynamic Rate type, after a payment has been approved, the status will change to “Needs Rate” in the Current Payments screen. Only users logged in with a security device and who have the appropriate entitlements, can use the Get Rate function to view and accept the dealing rate so that the payment can be processed.
- For International Payments, the payment can also be saved as a Template for future use.
- When creating an International Payment, a new beneficiary can be added or you can select a beneficiary from your Beneficiaries list. Multiple beneficiaries can also be added if paying to them in the same payment currency and value date.
- Beneficiary and payment details can be edited, including transaction charge codes and remittance information.
When creating a new beneficiary in ANZ Transactive – Global:
- Relevant Beneficiary Details and Beneficiary Bank Information can be populated on screen
- Either the SWIFT or National Clearing Code is to be specified (not both). Search functionality exists to assist you in finding the relevant Clearing Code.
- If required, the beneficiary can be added to the Beneficiaries screen to save for future use
Existing Beneficiary Payment Details can also be reviewed and edited during the payment process. This may include:
- Selecting a transaction Charge Code:
- SHA (default) you pay outgoing transfer charges, and the beneficiary pays the correspondent bank charges;
- OUR you pay all transfer charges, and the beneficiary receives the full amount of the payment.
- Remittance Information is optional and can be updated if required.
- Beneficiary ‘Proof of Payment’ Advice can also be issued via email by ticking the ‘Email Beneficiary Advice’ box in the Beneficiary Payment Details pop-up window. Note that if a beneficiary’s email address is registered in the Beneficiaries screen, this email will be displayed but can be changed if required.
- have been used for a payment in the last two years;
- were created from June 2023 regardless of being used in a payment;
- are not already in your ANZ Transactive – Global Beneficiaries screen;
- are in an 'approved by ANZ' and 'enabled' status in ANZ FX Online, and
- excludes any intermediary details assigned to beneficiaries and payment templates.
- Beneficiaries are controlled by you and can be added, amended or deleted by you at any time.
- Migrated beneficiaries will be displayed in ANZ Transactive - Global with a prefix of “FXOL <CCY> Beneficiary Name” in the “My Beneficiary ID” field on the Beneficiaries screen and on the Search Beneficiaries pop-up screen (when creating a payment) so that it is clear which are your migrated beneficiaries:
- New beneficiaries required to be added post the migration can be done via the Payments menu in ANZ Transactive – Global.
- No changes have been made to existing settings currently applied in ANZ Transactive – Global for new beneficiary creation (Approval required for Payee List Items (Payments)). Click here for more information.
User roles and permissions for Cash Management products can be reviewed and amended at any time by your ANZ Transactive - Global Administrators, and we request post migration that you undertake a review of the relevant permissions and settings, including the accounts a user has access to and their payment approval discretions limits.
FX Services Roles & Settings
Administrators can add the View FX Contracts role to any user. To add or remove the Create FX Contracts, Manage FX Contracts or Create & Manage FX Contracts roles to or from a user, please contact your ANZ Representative.
The Authorisation Matrix in ANZ Transactive – Global details what Authorisation Model is in place for each payment and direct debit product. Each product needs to have one of the following Authorisation Models:
- 1 to Authorise
- 2 to Authorise
- Panel which allows your organisation to setup threshold amounts and up to six approver sequences. For more information, click here.
The existing payment Authorisation Matrix you have set-up in ANZ Transactive - Global will be applied, i.e., 1 to authorise, 2 to authorise or an Authorisation Panel. If no payment Authorisation Matrix is currently specified in ANZ Transactive – Global for International Payments and Account Transfers, ANZ will migrate and apply the existing ANZ FX Online payment Authorisation Matrix of either single or dual approval. The Authorisation Matrix can be amended by your Administrators any time post migration. Click here for instructions on how to edit your Authorisation Matrix.
Some key pages of relevance include:
# | QUESTION | ANSWER |
---|---|---|
1 | How do we input a beneficiary name that is more than 35 characters in an International Payment? | Where a Beneficiary Name is more than 35 characters, continue to write the beneficiary's name in Address Line 1. |
2 | How do I send a payment advice to a beneficiary? | You can email a beneficiary advice by ticking the ‘Email Beneficiary Advice’ box in the Beneficiary Payment Details pop-up window. Note that if a beneficiary's email address is registered in the Beneficiaries screen, this email will be displayed but can be changed if required. |
3 | Why can’t I find any FX contracts when attaching them to a payment? | It could be that no contracts have a Value Date matching the payment Value Day. Please check your contacts in the Current Contracts screen and if required, pre-deliver to the payment Value Date. |
4 | I don’t have the approval discretion limits to approve a payment. How do I increase this? | Administrators can edit a user's approval limits. Please refer to User Permissions and Edit User.
Where multiple roles set conflicting approval discretion values for a payment type, the lowest approval discretion value will apply.
|
5 | Why is my payment still in a Pending Approval status after being approved? | Each available payment product has been setup with requiring either 1 to Authorise, 2 to Authorise or an Authorisation Panel with up to six approvers. The Authorisation Matrix can be amended by your Administrators any time post migration. |
6 | How do we change our Administration Model in ANZ Transactive – Global? | Your organisation was set up with one of the following Administration Models when you were onboarded to ANZ Transactive - Global:
Changes to Administration Models are configured by ANZ. Forms can be downloaded and submitted through the Service Requests menu. For more information, refer to Upload Documents Service Requests > Digital Channel > Others > Amend Digital Channel Details or contact your ANZ representative. |
7 | Where do we confirm our FX contracts? | FX confirmations will continue to remain in ANZ eMatching for eligible customers and can be accessed via the Applications menu. |