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Philippines - RTGS payment

Geography: This article is applicable for ANZ Transactive Global customers banking in the Philippines.
Full details are available in Features by Geography.
About RTGS Payments

What is an RTGS payment?

Real Time Gross Settlement (RTGS) payment allows you to transfer funds from your Philippines domiciled account registered to ANZ Transactive Global, to a beneficiary's Philippines domiciled PHP account in the Philippines. Payments are processed same day, rather than overnight.
 

Payment method rules for RTGS payments

  • Value date will default with the current or next business date if the payment is created on a non-business date or after payment cut-off
  • Non-business day - ANZ Transactive Global will not allow you to create a payment where the Value Date is a non-business day (e.g., weekend, public holiday, bank holiday) or a currency holiday
  • Future value date can be selected up to 90 days
  • Cut-off time for RTGS payments is 14:30 PHT
  • Payment currency is PHP only.
  • Maximum payment value is 999,999,999,999.99
  • Maximum number of payment instructions is 5,000 in a batch.
  • Individual Debit indicator will not be displayed for RTGS payments as this will automatically be enabled by default.
  • Invalid Character rules apply to this payment type.

Who can create an RTGS payment?

  • Eligible users with Payment Management role permissions and account access can create and manage an RTGS payment based on your organisation's predetermined user permissions and payment settings. These role permissions can include:
    • Manage Payments - Adhoc (Adhoc & Approved Beneficiaries)
    • Manage Payments - Approved Beneficiary / Templates
    • Manage Payments - Import Payments

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

For more information, please refer to Role Permissions and User Permissions.
Payment input screens
Domestic Payment screen

The following image is an example of a domestic payment screen with fields including the division, debit account, payment method, value date and cut-off time, payment name and reference, debit advice description and beneficiary details.
 

  • 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.

UPDATED PH RTGS Payment screen.png

Beneficiary Payment Details screen
The following image is an example of a Beneficiary Payment Details screen with fields including the beneficiary's name, address and account details, beneficiary bank details, purpose code, beneficiary email advice option, additional remittance information, Sender to Receiver information and supporting documents.
Beneficiary Payment Details screen PH - RTGS.png
Beneficiary Details screen

The following image is an example of the Beneficiary Details screen with fields including the beneficiary bank details, beneficiary's name, address and account details, beneficiary bank details, and beneficiary email address.
 

  • My Beneficiary ID is a unique beneficiary identifier. The field is enabled when you tick the 'Add this Beneficiary to your Beneficiaries when the payment is submitted' checkbox. The My Beneficiary ID is visible in the Beneficiaries screen.

Beneficiary Details screen PH.png

Create RTGS payment video

Create an RTGS payment

There are multiple ways you can create a domestic payment using the RTGS payment method type from the Payments menu. Choose from the following options:

  1. Click Create Payment > Domestic Payment (see step-by-step instructions below)
  2. Click Create Payment > Use Payment Template
  3. Click Create Payment > Use Payment File
  4. Click Create Payment > Use Past Payment
  5. Click Current Payments > New > Domestic Payment (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 Domestic Payment.
4 If required, select the Division the payment 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 RTGS Payment Method.
7 Value Date will default with the current business date.
If required, choose a future value date up to 90 days.
8 Enter a Payment Name up to 35 characters that will appear on payment reports.
9 Enter a Payment Reference up to 35 characters that will appear within the narrative on the funding account, beneficiary's statement and payment reports.
10 If required, enter a Debit Advice Description up to 55 characters that will appear on your debit account statement.
11 If required, tick Enter Amounts in Debit Currency if debit amount is in a different currency. Payment currency can only be in PHP.
12
To reduce the risk of fraud, ANZ recommends you always confirm beneficiary details when processing a payment.
Control Bar
CONTROL BAR ITEM DESCRIPTION
Add Add individual Beneficiary details to the payment instruction.
Remove Tick the checkbox next to the Beneficiary details, then click Remove.
Filter Filter data on the screen. Enter criteria into one or more text boxes that are under each column heading to display matching records.


Click Add to add one or more beneficiary details using the following options:

Add Beneficiary from your Beneficiaries list
Search and select the Beneficiary from the Beneficiary Name field, then proceed to next steps. If required, click Add again to add additional beneficiaries.
Add New Beneficiary
Users must have entitlements to create new beneficiaries to complete these steps.
STEP ACTION
1 Click Add New Beneficiary from the Beneficiary Name field.
2 If required, tick 'Add this Beneficiary to your Beneficiaries when the payment is submitted.'
3

Enter Beneficiary Bank Details:

  1. Clearing Code - Enter or search for the Beneficiary Bank Clearing code.
  2. Account Number - Enter the beneficiary account number up to 34 characters.
  3. Select Account Type
    • Resident Individual
    • Non-Resident Individual
    • Resident Corporate
    • Non-Resident Corporate
4

Enter Beneficiary Details:

  1. Beneficiary Name - Enter full legal name or registered legal entity name or beneficiary up to 140 characters.
  2. Email Address - If required, enter Beneficiary email address(es) up to 255 characters, separated by a comma.
  3. My Beneficiary ID - Enter your Beneficiary identifier up to 35 characters, if 'Add this Beneficiary to your Beneficiaries' checkbox was selected
  4. Country or Region - Select Beneficiary country or region
  5. Address Line 1 & 2 - If required, enter Beneficiary address up to 35 characters per line
  6. City - If required, enter Beneficiary City up to 35 characters
5 Click Save
6 If required, click Add again to add additional beneficiaries.
Proceed to next steps.
13 If required, enter Client Reference up to 35 characters if different from the Payment Reference prepopulated.
14 Enter the Beneficiary payment amount.
15

If required, click Beneficiary Payment Details icon to view or update additional beneficiary information:

Add or update Beneficiary Payment Details
STEP ACTION
1 Add or edit Beneficiary.
2 Add or edit Payment Amount.
3 Add or edit Client Reference.
4

Select Purpose Code.

Purpose Codes & Descriptions
PURPOSE CODE DESCRIPTION
BLSPAY Bills payment to non-government
CORPYB Corporate payment to business
CORPYG Corporate payment to government
CORPYP Corporate payment to person
IBCFTR Interbank Customer FT – Remittance
IBCPAY Interbank Customer Payment
IBCPYM Interbank Customer Payment to Merchants
PAYGOV Other payments to government
PAYRLL Salary payment
OTHERS Others
5

Select Charges:

  • SHA - this means any fees charged by other banks (including our correspondent banks, any other intermediary banks and/or the recipient's bank) will be deducted from the payment before the proceeds are paid to the beneficiary.
  • OUR - 'OUR Charge' fee is charged by us. We will cover fees charged by our correspondent banks used in processing this payment. Other banks (including other intermediary banks and/or the recipient's bank) may charge an additional fee.
6 If required, enter Remittance Information up to 140 characters. This will appear on the Beneficiary Advice and Payment Detail Report.
7 If required, enter Additional Information up to 8000 characters. This will appear on the Beneficiary Advice and Payment Detail Report and is not included in the payment.
8 If required, enter Debit Advice Description up to 55 characters.
9 If required, tick Email Beneficiary Advice and enter email address(es) up to 255 characters, separated by a comma.
10

If required, select code and enter Sender to Receiver Information up to 28 characters that will appear in field 72 of the SWIFT message:
 

Sender to Receiver Details
TYPE CODE DESCRIPTION
ACC Instructions for Acct with Institution /ACC/
CCDNDR Charity
CCTFDR Capital
CGODDR Goods
COCADR Other
CSTRDR Service
EDU UAE Educational Support /EDU/
FAM UAE Family Support Workers Remittances /FAM/
FIS UAE Financial Services /FIS/
FND Full No Deduct /FND/
GDS UAE Goods Bought or Sold /GDS/
GRI UAE Government Related /GRI/
IGT UAE Inter Group Transfer /IGT/
INS Instructing Inst of Sender to Execute /INS/
INT Instructions for Intermediary Institution /INT/
LIP UAE Loan Interest Payments /LIP/
OTS UAE Other Modes of Transport /OTS/
PRIORITY Priority Payment/PRIORITY/
REC Instructions for Receiver of Message /REC/
SAL UAE Salary /SAL/
TTS UAE Technical Trade and Other Business Services /TTS/
TRADE Instructing Inst of Sender to Execute /TRADE/
11 If required, click Upload Document to upload doc, docx, jpg, jpeg or pdf supporting documents for this beneficiary payment instruction, with up to five files not exceeding a total size of 15MB.
12 Click Save.
16

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

Payments above $500K USD equivalent requires a prebooked contract rate.
Choose a prebooked foreign exchange rate:

STEP ACTION
1 Select Contract from Rate Type.
2 Click Add FX Contracts.
3 Choose one FX Contract ID to apply to the payment instruction.
4 Click OK.
5 Enter Utilised Amount for the payment amount.
17

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

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

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 Field Error Messages (2).png

Beneficiary alert notifications:

  • Error is indicated by a red triangle. Details must be corrected to proceed with payment processing.
  • Alert with Warning is indicated by an amber triangle. Details can be corrected or accepted to proceed with payment processing.
Beneficiary Alert Message.png

Errors and Alerts within the Beneficiary Payment Details screen:

  • Error is indicated by a red triangle. Details must be corrected to proceed with payment processing
  • Alert with Warning is indicated by an amber triangle. Details can be corrected or accepted to proceed with payment processing
Alerts Error Message.png

Foreign exchange field validations:

Rates Error Messages.png
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
  • Save Payment as Template - View in Templates menu. Use Payment Template.
  • 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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