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India - Account Transfer

Geography: This article is applicable for ANZ Transactive Global customers banking in India.
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 within the same Customer ID, and same geography as the debit account. You can transfer funds to your foreign currency account also domiciled under the same Customer ID, and same geography. Account Transfers are available for same-border, same-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

Users with more than 1000 accounts, may need to use the Previous or Next arrows on the screen to search and select the debit/credit account when creating a payment.

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.
 

  • 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.

Create Account Transfer screen IN v.02.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 90 days.
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 and then enter a Debit Currency & Amount.
10 Enter a Payment Reference up to 35 characters that will appear within the narrative on the debit account, Device Advice and payment reports.
11 If required, enter a Debit Statement Narrative up to 30 characters that will appear as part of the narrative on the debit account statement.
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:

Bank Book

Use Bank Book when:

  • you do not have an existing FX contract to readily use or,
  • the value of the payment is less than or equal to the equivalent of $500K USD.

Upon submission of the payment, the bank will book a foreign exchange rate for the cross-currency payment. For future dated payments, the payment will appear in your Current Payments grid until the value of the payment. The status will update to Processing, pending the bank to book a foreign exchange 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.
  • To utilise a FX contract in a payment, the contract needs to have the same value date as the payment.
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
14 If required, enter Remittance Information into the Additional Information field up to 80 x 100 lines of data that will appear on the Debit Advice and Payment Details Report.
15 If required, tick Email Beneficiary Advice and enter an email address.
Please refer to Payment Report Types for a sample Beneficiary Advice.
16

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
17 Click Review & Submit
18

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:

IN BKT Mandatory fields error.png

Foreign exchange field validations:

Error - PH Bank Book.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
  • Create Another Payment
  • 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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