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.
- Cross-currency payments can only obtain a dynamic rate after they have been fully approved and are in a Needs Rate status
- A dynamic rate can only be obtained on the Value Date of the payment, before cut-off time for the payment type
- If a payment is future dated, you cannot obtain a dynamic rate until the date of the payment (i.e. the Value Date)
- Only users with a security device and the appropriate entitlements can use the Get Rate function
- Use Method 2 to get a dynamic rate for several payments at the same time
|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:
|3||Use one of the following methods to display the Get Rate pop-up window:
|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.