T24 Induction Business - Funds Transfer v4.0

T24 Funds Transfer
Agenda
T24 Funds Transfer
01 Learning Objectives
02 Product Overview
03 Static Tables
04 Account to Account Transfers
05 Draft Issue
06 Outward Remittances
07 Funds Transfer Enquiries
08 Standing Orders
09 Bulk Standing Orders
10 Standing Orders Enquiries

Learning Objectives
T24 Funds Transfer > Learning Objectives
Objectives
What T24 Funds Transfer is used for ?
How to use Funds Transfer Application ?
Capture Funds Transfer Transactions
Learn about and Capture Standing Order Transactions
Enquiries
T24 Funds Transfer
T24 Funds Transfer
 Banks maintain accounts for their own funds and

for their customers funds
 From time to time they need to move the funds

from one account to another
 This could even be to other local or international

banks
 Funds Transfer is one of the modules in T24

which enables a bank to move funds
Agenda
T24 Funds Transfer
02 Product Overview
03 Static Tables
05 Draft Issue
08 Standing Orders

T24 Funds Transfer
T24 Funds Transfer > Product Overview
Account to Account
Customer
Accounts
Funds Transfer Drafts, Bankers Cheques
Internal
Accounts
International Remittances
Limits
Accounting
Outward
Inward
SWIFT
Messages
Delivery
Customer
Advices
T24 Funds Transfer
T24 Funds Transfer > Product Overview
 Funds Transfer is used for moving funds from account to account

 Within the bank
 To other local banks
 To other banks abroad
 Transfers can be made to and from

 Customer Accounts
 Internal Suspense Account
 Profit and Loss Accounts
 The module is integrated with

 Limits
 Account
 Delivery
 Real Time update of balances and cash flow

Agenda
T24 Funds Transfer
02 Product Overview
03 Static Tables
05 Draft Issue
08 Standing Orders

T24 Funds Transfer
T24 Funds Transfer > Static Tables
FT.COMMISSION.TYPE
NOSTRO.
CURRENCY Funds Transfer ACCOUNT
Agenda
T24 Funds Transfer
02 Product Overview
03 Static Tables
05 Draft Issue
08 Standing Orders

T24 Funds Transfer
T24 Funds Transfer > Account to Account Transfers
 The most basic type of transaction is account to account transfer in the same
currency
 The Mandatory fields are
Field Name Details
Debit Account The account to be debited
Note
Note
Debit Currency The debit account currency
Only one amount
Debit Value Date Value date of the debit. Defaults to can be input. Debit
T24 system date if left blank. Used for
or Credit amount
interest calculation.
but not both. T24
Debit Amount The amount to debited works out the
Credit Account The account to be credited amount for the
other side
Credit Currency The credit account currency
Transaction ID is
Credit Value Date Value date of the credit. Defaults to generated
T24 system date if left blank. Used for
Interest calculation
automatically by
T24
Credit Amount The amount to be credited
Account to Account Transfer
Some of the optional fields are

Field Name Details
Debit Narrative Narrative for Debit Advice
Credit Narrative Narrative for Credit Advice
 Some fields are only used for cross currency transactions

 Eg Treasury Rate, Customer Spread and Customer Rate
 Some fields are only used for cheque and draft transactions
 Eg Draft / Cheque Number, Payee
 Some fields are only used for SWIFT transactions.
 The screens are setup accordingly. More on these later

Menu Navigation
Workshop
Use User Menu > Retail Operations > Account Transactions >
LCY Draft Issue / Account Transfer > Transfer between
Accounts
Instructions
 Transfer USD 100.00 between two USD Current accounts

 Debit Account = Search for a USD Account
 Credit Account = Search for a USD Account
 Enter only the following fields
 Debit Account ,Debit Currency, Debit Amount and Credit
Account
 Press the Validate Button and see that the system populates
default values
 Commit the record and approve overrides, if any
 Get the transaction authorised
Solution - Account to Account Transfer
Workshop
Only 4 required values:

Debit Account
Debit Currency
Debit or Credit Amount
Credit Account
Validate the Record The other mandatory fields

default automatically
Account to Account Cross Currency
 Possible to transfer to accounts of different currencies

Eg from
Note
Note
• Exchange rates
will be updated in
T24 periodically.
These rates are
defaulted at
a USD Account To a EURO Account transaction level
 The additional fields used

Field Name Details
Treasury Rate Exchange rate defaulted from Currency table
Customer Spread Customer specific spread on the rate
Customer Rate Final rate for the customer. Arrived at by adding
Treasury rate and Customer Spread.
Menu Navigation
Workshop
Use User Menu > Retail Operations > Account Transactions >
LCY Draft Issue / Account Transfer > Transfer between
Accounts
Instructions
 Transfer USD 100 from a USD Current account to a EUR

Current account.
 Apply a Customer spread of 0.025
 Accept Overrides, if any and commit the record
 Through context sensitive enquiries view accounting entries at

unauthorised stage
Workshop
Validate the Record

The other mandatory
fields default automatically
Workshop
2
Agenda
T24 Funds Transfer
02 Product Overview
03 Static Tables
05 Draft Issue
08 Standing Orders

Draft Issue
T24 Funds Transfer > Draft Issue
 Funds Transfer can be used to issue Local Currency Drafts
Customer purchases Draft Bank issues Draft

 Some of the fields for capture are
Field Name Details

Draft Number The Draft / Cheque number
Payee Name Whom the draft is payable to
Commission Type / The type of commission and the amount being
Amount charged to the customer for processing the draft
Draft Issue
 Other fields used for Draft issuance are
Field Name Details
Draft Amount The amount of the draft
Draft Currency Currency of Draft
The account being debited to pay for the draft. Usually

Debit Account the customers account.
Credit Account Internal Account number for LCY draft issue.

Nostro Account for FCY draft issue.
Beneficiary Beneficiary of the draft

Issue Local Currency Draft
Menu Navigation
Workshop
Use User Menu > Retail Operations > Account Operations >
LCY Draft Issue / Account Transfer > Draft Issue in Local
Currency
Instructions
 Issue a Local Currency Draft for USD 2000.00
 Debit a USD current account
 Use Draft Number 12244
 Payee Name = British Airways
 Waive charges
 Press the Validate Button and you will see that the system
populates default values
 View the debit advice through Delivery preview
 Commit the record
Solution - Issue Local Currency Draft
Workshop
Validate the Record

and commit
Solution - Issue Local Currency Draft
1
Workshop
3
Draft Issue – Foreign Currency
 Funds Transfer can be used to issue Foreign Currency Drafts
 Foreign Currency Drafts can be issued with or without an MT110

 An MT110 is a SWIFT message sent to the correspondent bank to advise
that a cheque has been issued.
 Same fields as local currency draft are used plus the following
Field Name Details

SEND.TO.PARTY Party to whom the Bank to Bank info is to be sent.
Defaulted to CRCUST.
Bank to Bank Info Optional input used in Tag 72 of MT110 Should have a
valid code word predefined in SWIFT.CODE.WORDS
beginning and ending with / Any subsequent lines to begin
with //
Draft Issue - Foreign Currency with MT110 Advice of Cheque
1 Customer purchases the draft.

T24 Bank prepares it and hands
it back to the customer.
Customer then gives it to the
payee
2 T24 Bank sends an MT110

MT110
SWIFT message to the foreign
T24 bank. This message contains
Foreign the cheque details.
3 Payee presents the cheque at

foreign bank. Foreign bank uses
the MT110 to verify the cheque
Foreign before paying the proceeds to
payee.
Issue Foreign Currency Draft with MT110
Menu Navigation
Workshop
Use User Menu > Payment Services > Funds Transfer > Issue
of Foreign Currency Draft > Foreign Currency Draft with
MT110
Instructions
 Issue a Foreign Currency Draft for GBP 3000.00

 Use Draft Number 222333
 Payee Name = Amazon Publishers
 Recover charges
 Use Debit Plus Charges commission code
 Use DDCOMM commission type
 Indicate Bank to Bank Info as /REC/Please pay on presentation if
//otherwise in order
 View the MT110 through Delivery preview
 Validate and commit the record
Solution - Issue Foreign Currency Draft with MT110
Workshop
Validate and commit

the record
3
Solution - Issue Foreign Currency Draft with MT110
Workshop
3
Agenda
T24 Funds Transfer
02 Product Overview
03 Static Tables
05 Draft Issue
08 Standing Orders

Outward Remittances
T24 Funds Transfer > Outward Remittances
 T24 Funds Transfer can used to remit money abroad and generate SWIFT
messages.
 Type of message generated is dependent on the type of transaction

 We have already seen an MT110 – Advice of Cheque
 We will now look at

 MT103 – Single Customer Credit Transfer
 MT200 – Financial Institution Transfer for own Account
 There other message types generated by FT besides the above.

 These are beyond the scope of this induction course
Outward Remittances – MT103 Single Customer Credit Transfer
 Banks maintain Nostro accounts with foreign banks.

 Facilitate their payments and payments of behalf of their customers.
 A customer can remit funds abroad to credit another beneficiaries account.
 A simple way to look at this is in the illustration below.
MT103
T24 Foreign
Our customer gives us instructions to remit Our bank sends an MT103 message instructing
funds abroad. He gives us the beneficiary the foreign bank to debit our Nostro and credit
details (Name, Account number etc). We the beneficiary account. The transaction is
debit his account and credit our Nostro Acct. normally chargeable.
Outward Remittances – MT103 Single Customer Credit Transfer
 Funds Transfer has some fields that are used for remittance transactions.
 The screens are setup accordingly.
 Some of the fields for use are
Field Name Details

Beneficiary The name of the beneficiary
Beneficiary Account The account number of the beneficiary at the receiver
Number bank.
Sender to Receiver Additional information from the sending bank to the
Info receiver
Charges for Can be set to BEN, OUR or SHA to indicate who is to
bear the charges for the transfer
MT103 Single Customer Credit Transfer
Menu Navigation
Workshop
Use User Menu > Payment Services > Funds Transfer >
Outward Remittances > With MT103
Instructions
 Capture an outward remittance for GBP 1500.00

 Set beneficiary name as Mr Robert Thompson
 Set beneficiary account as 102000487
 Recover charges
 Use Debit Plus Charges commission code
 Use OUTSWIFTCHG commission type
 Set ‘Charges for’ as SHA
 On MT103 details, set ‘Bank Operation Code’ as Credit
 View message output through Delivery preview
 Validate and commit the record
Solution - MT103 Single Customer Credit Transfer
Workshop
3 Validate and
commit the record
Solution - MT103 Single Customer Credit Transfer
Workshop
3
Outward Remittances - MT200 Financial Institution Transfer
 From time to time banks have to move their funds around.

 Some Nostro accounts might be having a surplus while others are short of funds.
 Funds Transfer can be used for Nostro funding
 A simple way to look at this is in the illustration below.
MT200 FUNDS
T24 Foreign1 Foreign2
Our Nosto account at Foreign2 Bank might be

running short of funds. We send an MT200
message to Foreign1 Bank to instruct them to
transfer some funds to Foreign2 Bank.
MT200 Financial Institution Transfer
Menu Navigation
Workshop
Use User Menu > Payment Services > Funds Transfer >
Account Transfer > Transfer Between Nostro (MT200)
Instructions
 Transfer 50,000.00 EUR between two EUR Nostro

Accounts
 View the MT200 through Delivery preview
 Validate and commit the record (Note either the credit
account or the transaction reference – to authorise)
Solution - MT200 Financial Institution Transfer
Workshop
Validate and commit

the record
Solution - MT200 Financial Institution Transfer
1
Workshop
3
Inward Remittances
 T24 Funds Transfer can used to capture inward remittances.
 Through suitable interfaces the incoming SWIFT messages can

automatically create Funds Transfer transactions.
 More on Inward Remittances in the advanced course

Agenda
T24 Funds Transfer
02 Product Overview
03 Static Tables
05 Draft Issue
08 Standing Orders

Enquiry
T24 Funds Transfer > Enquiry
 Local Draft Enquiries give information on

 Issued Drafts
 Cleared Drafts
 Stopped Drafts
 Cancelled Drafts
 Remittances Enquiries give information on

 Outward and Inward Remittances
 Foreign Drafts
 Nostro Transfers
Local Draft Enquiries
 Lets look at Local Draft Enquiries

 User Menu > Retail Operations > Account Transactions > Draft Issue / Account
Transfer > Enquiries > Local Draft Enquiries
 Here we see Local Drafts Issued
 By clicking on the suitable TAB you can see Cleared Drafts, Stopped
Drafts, Cancelled Drafts
Remittances Enquiries
 Lets look at Remittances Enquiries

 User Menu > Payment Services > Funds Transfer > Remittances Enquiries
 Here we see Outward Remittances Today
 By clicking on the suitable TAB you can see Foreign Drafts Issued Today,
Nostro Transfers Today, Inward Remittances
Agenda
T24 Funds Transfer
02 Product Overview
03 Static Tables
05 Draft Issue
08 Standing Orders

Standing Orders - Product Overview
T24 Funds Transfer > Standing Orders
Balance
Management
Single
Standing Orders Transfers
Regular Payment
a
Direct Debit
Diary
Bulk
Regular Payment
Transfers
Funds
Transfer
Standing Orders
 Module is integrated with Funds Transfer module.

 When the standing order executes T24 creates a Funds Transfer transaction.
 The standing order can be executed at a regular frequency.

 The trigger is a date or the balance going above or below a predefined amount.
 The ID of the standing order is the account number followed by a sequence

number.
Account Number Sequence Number
 Sequence numbers 900 to 999 are reserved for Balance Management Standing
order types.
Standing Orders
 Some of the fields for capture are.
Field Name Details

ID Account number followed by sequence number.
Currency The currency of the Standing Order
Amount The amount to transfer or balance to maintain. This depends
on the type of Standing Order.
Frequency How often the Standing Order should execute
End Date The final date of the Standing Order. After this date it will not
execute any more. If this date is not indicated the Standing
Order will run indefinitely.
Commission Type The charges to recover at execution.
 There are other fields besides these. These will be covered in the advanced
course.
Standing Orders – Balance Management
 Customers may want to maintain their account at a certain minimum or maximum

balance.
 The shortfall or excess would come from / go to another account.
Maximum Balance
Surplus
Funds
Account 1 Account 2
Shortfall
Funds
Account 1 Account 2
Minimum Balance
Balance Maintenance Standing Orders
Menu Navigation
Workshop
Use User Menu > Payment Services > Standing Order >
Balance Maintenance STO > Maintain Minimum Balance
Instructions
 Setup a standing order to maintain a minimum balance of

USD 1,000.00 in your customer USD account.
 Debit your customers GBP account for the shortfall every

business day
Solution - Balance Maintenance Standing Orders
Workshop
Validate and commit

the record
Balance Maintenance Standing Orders
Menu Navigation
Workshop
Balance Maintenance STO > Maintain Maximum Balance
Instructions
 Setup a standing order to maintain a maximum balance of

USD 500.00 in your customer USD account.
 Credit your customers EUR account with the surplus every
business day
Solution - Balance Maintenance Standing Orders
Workshop
Validate and commit

the record
Standing Orders - Regular Payment
 Customers may want to transfer a fixed amount from one account to another
periodically.
 One account would be debited and another credited with a fixed amount.
At Regular
Frequency
Fixed
Amount
Account 1 Account 2
 The standing order will only execute successfully

 Provided the Debit account has sufficient funds
 There are no posting restrictions on both accounts
 If a problem is encountered the Funds Transfer is created in Hold status
Regular Payment
Menu Navigation
Workshop
Fixed Transfers STO > Fixed Amount Transfer
Instructions
 Setup a standing order to transfer USD 1,500.00 from

your customer USD Savings account.
 Credit your customers GBP account every two weeks.
 The standing order should run for 1 year only

Solution - Regular Payment
Workshop
Validate and commit

the record
Standing Orders – Direct Debit
 Customers may have accounts with certain service providers which have to be
paid regularly.
 Eg. A Postpaid mobile phone contract, an insurance policy with monthly
installments.
When bill is due
Bill
Service Amount
Provider Customer
Account Account
 The customer would have signed a Direct Debit Mandate with the service
provider.
 Gives service provider permission to debit the customers account with the bill
amount when it becomes due.
Standing Orders – Direct Debit
 In T24 this type of standing order is passive.

 No accounting entries are generated
 It just records details of the Direct Debit Mandate
 The accounting entries would be passed manually

or through a suitable interface.
 The Direct Debit details would be used for checking
before posting the accounting entries.
Standing Orders – Diary
 Diary type standing order is also passive in T24

 No accounting entries are generated
 Useful for giving reminder information via

enquiries
 Eg A customer wants you to call him once a month
with the interest rates for fixed deposits
Agenda
T24 Funds Transfer
02 Product Overview
03 Static Tables
05 Draft Issue
08 Standing Orders

Standing Orders - Bulk Transfers
T24 Funds Transfer > Bulk Standing Orders
 Customers may want to transfer a fixed amounts to multiple accounts periodically

 Debit one account and credit many accounts
 The total debit would add up to the total credits
Credit
On a specific date Account 2
Credit
Account 3
Account 1
Debit
Credit
Account 4
Standing Orders – BULK.STO
 BULK.STO is the application that allows standing orders with one debit to
multiple credits
 Similar to regular payment type of standing order.

 Can be executed once off or at a regular frequency.
 BULK.STO processed during COB.

 Can be processed online.
 SINGLE.PAYMENT field to be set to YES.
 SINGLE.BULK.STO used for online processing

 More than one BULK.STO can be processed together
 The record is run using Verify function for online processing of transactions
BULK.STO
Menu Navigation
Workshop
Use User Menu > Payment Services > Bulk Standing Order >
Input Bulk STOs
Instructions
 Setup a bulk standing order to transfer a total of USD

5,000.00 from your customer USD Savings account to 3
other accounts.
 Credit the following accounts
 USD 2,000.00 to a USD account
 USD 2,500.00 to a GBP account
 USD 500.00 to a EUR account
 Transfers should be scheduled every month on the 25th.
 Validate and commit and get the record authorised.
Solution - BULK.STO
Workshop
Validate and commit

the record
Standing Orders – Bulk Debits
 We might have a need to collect money from several accounts periodically.

 Credit one account and debit many accounts
 The total credit would add up to the total debits
Debit
On a specific date Account 2
Debit
Account 3
Account 1
Credit
Debit
Account 4
Standing Orders – FT.BULK.CREDIT
 FT.BULK.CREDIT is the application that allows standing orders with one credit to
multiple debits
 Similar to regular payment type of standing order.

 Can be executed once off or at a regular frequency.
 FT.BULK.CREDIT processed during COB.

 Can be processed online.
 SINGLE.PAYMENT field to be set to YES.
 SINGLE.INWARD.BULK used for online processing

 More than one FT.BULK.CREDIT can be processed together
 The record is run using Verify function for online processing of transactions
Agenda
T24 Funds Transfer
02 Product Overview
03 Static Tables
05 Draft Issue
08 Standing Orders

STO Enquiries
T24 Funds Transfer > Standing Orders Enquiries
 To give information on Standing Orders. We have the following

enquiries
 Unexecuted STOs
 STOs Executed Today
 STO by Account
 STO by Type,
 STO Reversed
 Diary Actions
 Direct Debits
STO Enquiries
T24 Funds Transfer > Standing Orders Enquiries
 Lets look at STO Enquiries

 User Menu > Payment Services > Standing Order > STO Enquiries
 Here we see Unexecuted STOs – FT on Hold
 By clicking on the suitable TAB you can see STOs executed Today, STO by
Account, STO by Type, etc.
Quiz – True or False
T24 Funds Transfer
1. Both Credit amount and Debit amount must be specified

in a Funds Transfer transaction.
2. It is possible to transfer between accounts of different

currencies in T24 using FT
3. T24 can create Funds Transfer transaction automatically

from Incoming SWIFT message through suitable
interface.
4. If standing order fails to execute T24 creates a Funds

Transfer transaction and keeps it in Hold status.
5. It is possible to remit funds abroad using Standing

Orders.
6. A Diary type of standing order generates accounting

entries.
What Did We Learn?
T24 Funds Transfer
Conclusion
What Funds Transfer is used for
Different types of Funds Transfer transactions
What Standing Orders are used for
Different Types of Standing Orders
Enquiries
Contact Us
For training Enquiries
university@temenos.com
Thank You
NOTICE
These training materials are the copyrighted work of Temenos Headquarters SA and other companies in the TEMENOS group of companies (The Copyright Owner). The
training materials contain protected logos, graphics and images. Use of the training materials is restricted solely for use by licensed end users, partners and employees.
Any un-licensed reproduction by any means, redistribution, editing, transformation, publishing, distribution, or public demonstration of the training materials whether for
commercial or personal gain is expressly prohibited by law, and may result in severe civil and criminal penalties. Violators will be prosecuted to the maximum extent
possible. Such training materials shall not be represented, extracted into or included in part, or in whole, as part of any other training documentation without the express
permission of the Copyright Owner, which must given in writing by an authorised agent of the Copyright Owner to be valid. Where such permission is given a clear and
prominent notice must be displayed on any and all documentation accrediting the Copyright Owner with having copyright over the materials. End-user licenses will in no
event contain permissions extending the use of these training materials to third parties for commercial training purposes.
Without limiting the foregoing, copying or reproduction of the training materials in part or in whole to any other sever or location for further reproduction or redistribution is
expressly prohibited, unless such reproduction is expressly licensed by the Copyright Owner.
Copyright © 2010 Temenos Headquarters SA

T24 Induction Business - Funds Transfer v4.0

Încărcat de

Informații document

Titlu original

Drepturi de autor

Formate disponibile

Partajați acest document

Partajați sau inserați document

Opțiuni de partajare

Vi se pare util acest document?

Este necorespunzător acest conținut?

Drepturi de autor:

Formate disponibile

T24 Induction Business - Funds Transfer v4.0

Încărcat de

Drepturi de autor:

Formate disponibile

T24 Funds Transfer

04 Account to Account Transfers

07 Funds Transfer Enquiries

09 Bulk Standing Orders

10 Standing Orders Enquiries

What T24 Funds Transfer is used for ?

How to use Funds Transfer Application ?

Capture Funds Transfer Transactions

Learn about and Capture Standing Order Transactions

 Banks maintain accounts for their own funds and

 From time to time they need to move the funds

 This could even be to other local or international

 Funds Transfer is one of the modules in T24

04 Account to Account Transfers

07 Funds Transfer Enquiries

09 Bulk Standing Orders

10 Standing Orders Enquiries

Funds Transfer Drafts, Bankers Cheques

 Funds Transfer is used for moving funds from account to account

 Transfers can be made to and from

 The module is integrated with

 Real Time update of balances and cash flow

04 Account to Account Transfers

07 Funds Transfer Enquiries

09 Bulk Standing Orders

10 Standing Orders Enquiries

04 Account to Account Transfers

07 Funds Transfer Enquiries

09 Bulk Standing Orders

10 Standing Orders Enquiries

Some of the optional fields are

 Some fields are only used for cross currency transactions

 Some fields are only used for SWIFT transactions.

 The screens are setup accordingly. More on these later

 Transfer USD 100.00 between two USD Current accounts

Only 4 required values:

Validate the Record The other mandatory fields

 Possible to transfer to accounts of different currencies

 The additional fields used

 Transfer USD 100 from a USD Current account to a EUR

 Through context sensitive enquiries view accounting entries at

Validate the Record

04 Account to Account Transfers

07 Funds Transfer Enquiries

09 Bulk Standing Orders

10 Standing Orders Enquiries

 Funds Transfer can be used to issue Local Currency Drafts

Customer purchases Draft Bank issues Draft

Field Name Details

 Other fields used for Draft issuance are

Field Name Details

Draft Amount The amount of the draft

Draft Currency Currency of Draft

The account being debited to pay for the draft. Usually

Credit Account Internal Account number for LCY draft issue.

Beneficiary Beneficiary of the draft

Validate the Record

 Funds Transfer can be used to issue Foreign Currency Drafts

 Foreign Currency Drafts can be issued with or without an MT110

Field Name Details

1 Customer purchases the draft.

2 T24 Bank sends an MT110

3 Payee presents the cheque at