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Get Rate

After a cross-currency payment has been fully approved, the system checks whether an exchange rate is required, and if so, puts the payment into a Needs Rate status. To get a dynamic rate for a payment in a Needs Rate status, follow the steps below.

  • You can only obtain a dynamic rate on the Value Date of the payment and before the cut-off time for the payment type
  • You can only obtain a dynamic rate for cross-currency payments after they have been fully approved and is in a Needs Rate status
  • You can only obtain a dynamic rate for future dated payments on the value date
  • You can only Get Rate on individual batch payments and not for multiple payments simultaneously.
  • Only users logged in with a security device, either a token or ADK, and who have the appropriate entitlements, can use the Get Rate function
STEP ACTION
1 Go to the Payments > Current Payments screen
2 Click View > Needs Rate from the Control Bar to view all payments that require a dynamic rate. If required, you can further refine the payments on screen by using Filter or Sort: 
  • Use Filter on the Control Bar. Enter criteria into one or more text boxes that are under each column heading to display matching records.
  • Sort columns by clicking on the column heading. The column will reorder in ascending order. Click again to order in descending order.
3 Use one of the following methods to display the Get Rate pop-up window:
  • Method 1: Right-click on the payment and click Get Rate on the Context Menu
  • Method 2: Select the payment(s) and click Actions > Get Rate on the Control Bar
  • Method 3: Click on the payment in the list to display the Payment Details screen and then click Get Rate on the Control Bar
4 Click Get Rate in the Get Rate pop-up window:
RESULT: The amount and rate are displayed with a 30-second countdown until the rate expires.
5 To accept the displayed exchange rate, click Trade before the rate expires.
RESULT: A confirmation pop-up window is displayed and the payment status will change to Trade Successful before it begins processing.
To reject the displayed exchange rate, click Cancel or wait until the countdown expires.