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China - Account Transfer

Geography: This article is applicable for ANZ Transactive Global customers banking in China.
Full details are available in Features by Geography.
About Account Transfer payments

What is an Account Transfer?

An Account Transfer allows you to transfer funds between two of your ANZ accounts registered to ANZ Transactive Global. Account Transfers are available for same-border, same-currency, cross-border, cross-currency and same day near real-time processing up to 24 hours a day, seven days a week. Currency holidays are considered if FX is involved.

Payment Method Rules for Account Transfers

Who can create an Account Transfer?

  • Eligible users with Payment Management role permissions and account access can create and manage an Account Transfer payment based on your organisation's predetermined user permissions and payment settings. These role permissions can include:
    • Manage Payments - Ad hoc (Ad hoc & Approved Beneficiaries)
    • Manage Payments - Approved Beneficiary / Templates
For more information, please refer to Role Permissions and User Permissions.
Payment input screens

Account Transfer screen

The following image is an example of an Account Transfer screen with fields including the division, debit account, credit account, value date and cut-off time, payment reference, and debit & credit statement narratives, and supporting documents.
 

  • Cut-off time (near the value date) indicates the payment method cut-off time, based on the originating jurisdiction and payment currencies
  • The time zone and format (near the value date) are displayed as per your User profile and preferences
  • The ANZ Transactive Global mobile app will display the cut-off time in the payment time zone.

Account Transfer screen (Accord).png

Create an Account Transfer

There are multiple ways you can create an Account Transfer from the Payments menu. Choose from the following options:

  1. Click Create Payment > Account Transfer (see step-by-step instructions below)
  2. Click Create Payment > Use a Past Payment
  3. Click Current Payments > New > Account Transfer (see step-by-step instructions below)
STEP ACTION
1 Click Payments > Create Payment menu, or
Click Payments > Current Payments menu > New.
2

If required, choose a Country or Region where the funding account is domiciled. Select either:

  • Australia, New Zealand or China
  • Other Countries or Regions (Hong Kong, India, the Philippines, Singapore or Vietnam)
3 Click Account Transfer.
4 If required, select the Division the account transfer will be made from.
If you are entitled to more than one division, you can set a default division for future payments.
5 Select the Debit Account.
6 Select the Credit Account.
7 Value Date will default with the current business date.
If required, choose a future value date up to 120 days for same currency and 20 days for cross border.
8 Enter payment Amount.
By default, the Payment Currency is the currency of the credit account.
 
9 If required, select Enter Amounts in Debit Currency if payment amount is in a different currency.
10 If required, enter a Debit Currency & Amount if using multiple currencies.
11 Enter a Payment Reference up to 16 characters that will appear within the narrative on the debit account, Device Advice and payment reports
12 If required, enter a Credit Statement Narrative up to 160 characters that will appear as part of the narrative on the credit account statement
13

If required, choose your FX Details* option:

Dynamic
Obtain real-time foreign exchange rates for cross-currency payments. Once the payment is approved, it moves to a Needs Rate status. A user with appropriate user entitlements can then Get Rate to lock in the real-time dynamic rate.
Contract
  • To obtain a FX Contract, contact your local ANZ Markets dealer. Contracts will appear in ANZ Transactive Global for selection after they have been booked.
  • You can use up to five Contracts unless you select Use Dynamic Rate for Remaining Amount. In this case, only four Contracts can be added.

Choose a prebooked foreign exchange rate:

STEP ACTION
1 Select Contract from Rate Type
2 Click Add FX Contracts
3 Choose FX Contract ID(s) to apply to the payment instruction
4 Click OK
5 Enter Utilised Amount for the payment amount
6 If required, tick Use Dynamic Rate for Remaining Amount for the balance which is not covered by the pre-booked contract(s)
14 If required, enter Additional Details up to 80 x 100 lines of data that will appear on the Debit Advice and Payment Details Report. Text that exceeds the defined limit will be truncated.
15 If required, tick Email Beneficiary Advice and enter email address(es) up to 255 characters separated by a comma.
Please refer to Payment Report Types for a sample Beneficiary Advice.
16

If required, enter Additional Information:
 

If you complete the BOP form in ANZ Transactive Global, you do not need to provide a hard copy of the form to the Bank.

If your beneficiary requires additional regulatory information, complete this section. Mandatory fields are marked with an asterisk.
 

Balance of Payment Details
FIELD HOW TO COMLETE
Provided BOP form manually to bank If you have provided the BOP form manually to the bank, select this checkbox.
NOTE: If selected the remaining fields will no longer be visible.
Amount in Words* Enter the amount of the payment in words.
NOTE: This will be auto populated in English if an amount has been entered.
BOP Transaction Code 1* Select the BOP Transaction Code.
BOP Transaction Description 1* This will be auto populated based on the BOP Transaction Code 1 selected. You can update the description if required.
BOP CCY1* This will be auto populated based on the Payment Currency or Debit Currency being used.
BOP Amount 1* Enter the BOP Amount for BOP Transaction Code 1.
BOP Transaction Code 2 If required, select the appropriate BOP Transaction Code.
NOTE: This needs to be a different Transaction Code to BOP Transaction Code 1.
BOP Transaction Description 2 This will be auto populated based on the BOP Transaction Code 2 selected. You can update the description if required.
BOP CCY 2 If you are using BOP Amount 2, enter the transaction currency.
BOP Amount 2 Enter the BOP Amount 2 for BOP Transaction Code 2.
NOTE: BOP Amount 1 plus BOP Amount 2 should equal the total BOP amount.
Unit Code* Enter the 9-digit Unit Code of your organisation.
Beneficiary Resident Country/Region Name* This will be auto populated based on the remitter’s bank country name.
Beneficiary Resident Country/Region Code* This will be auto populated based on the remitter’s bank country name.
Payment Nature* Select the nature of the payment from the drop-down list.
NOTE: This should be based on the declaration document.
Tax Free Goods* Select Yes or No.
Type of Payment* Select the type of payment.
Contract Number* If there is a contract for this transaction, enter the Contract Number or enter "N/A".
Invoice Number* If there is an invoice for this transaction, enter the Invoice Number or enter "N/A".
Safe Batch/Registration Number Enter the 20-digit Safe Batch/Registration Number or enter "N/A".
BOP Reporting Type* Select the BOP reporting type from the drop-down list.

Repeat above steps to add each beneficiary to the payment.
17

If required, click Upload Document to attach your supporting documentation:

  • Allowed Formats: doc, docx, jpg, jpeg or pdf
  • Size Limit: 5 files, max 15MB in total
  • File Name: Up to 100 characters including file extension, alphanumeric characters, hyphens, underscores and spaces
  • Limit: 100 files, max. 100MB
Only one file can be selected and uploaded at a time. Click 'Upload Document' within the payment instruction for every file to be uploaded.
18

Do you wish to continue the payment at a later stage?
 

  • Yes - Click Save as Draft, then click OK, then click Close to exit out to the payment and return to the Current Payments screen. Payment will be in a Draft status.
  • No - Continue steps below
19 Click Review & Submit
20

Click Submit
 

RESULT: Payment has been submitted and pending approval.

*A non-transactable daily mid-rate (which does not include a margin) has been used to estimate the transaction value for the purpose of approval discretions and available funds checking. The actual exchange rate for the transaction will be displayed when a trade or contract is applied to the payment request.

Errors and Alerts

Error and alert messages such as 'fields validations' display information about the impacted field(s) and highlights the field(s) in red. Error messages are specific to the payment method types, fields available and particulars validations. You can update the information within the impacted field(s) and continue processing the payment.

Mandatory field validations:

Mandatory fields error v.02 (Accord).png

Foreign exchange field validations:

FX errors v.01.png

Next Steps

When the payment has been successfully submitted and is now in a Pending Approval status, you can choose from the following on-screen options:

  • Request Payment Summary Report - Download in CSV, PDF and XLSX
  • View this Payment in a Pending Approval status
  • Click OK to close the payment and return to the Current Payments screen

When the payment has been successfully submitted for approval(s), the next steps can be:

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