Customer Credit Transfer Initiation

PelicanPay accepts, validates and processes files containing Customer Credit Transfer Initiation messages (pain.001) from the corporate back-office and sends out valid files to the bank using the following SEPA compliant process:

Customer Credit Transfer Initiation  flowchart

Payment Import and Capture

PelicanPay accepts files containing Credit Transfer Initiation messages (pain.001) from the corporate back-office.

Translation

If files are not presented in the SEPA pain.001 format, they are converted to the ISO 20022 XML pain.001 format; enrichment is applied where required.

Validations

PelicanPay performs comprehensive validations on the instructions:

Customer Credit Transfer Initiation circular flow

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Syntactical and Semantic Validation

PelicanPay checks if the format and structure of the credit transfer instructions is correct.

SEPA EPC Rulebook Validation

PelicanPay checks if the credit transfer satisfies validations mentioned in SEPA EPC Rulebook.

Creditor Identification

Check for the validity of Creditor Identification Code used in the instruction.

Duplicate Check

Check to identify if the instruction was already processed before.  This works on either the entire contents of the instruction OR key parameters of the instruction.

IBAN BIC check

PelicanPay checks whether the Creditor Agent BIC corresponds or is consistent with the IBAN of the Creditor.

Requested Execution Date Check

PelicanPay checks if the requested execution date falls within the timelines agreed with the bank and also happens to be a valid business day and not a holiday.

Additional country and Bank specific checks

The message is also validated based on any country specific or bank specific validations that may be applicable.

Scheduling and routing and warehousing

PelicanPay moves the credit transfers to the appropriate queue for manual intervention if it is future dated or it contains exceptions. It will also check if their respective cut-offs and holiday calendars of the destination banks are complied with.

Exception handling

PelicanPay moves the credit transfers to the appropriate queue for manual intervention if they fail any of the validations checks or the duplicate check.

Translation and country and bank specific enrichment

If required the instructions will be translated into a format required by the destination bank and PelicanPay will enrich the credit transfer instruction with additional information as required by the destination country and the bank.

Authorization and Control

PelicanPay will route the credit transfers requiring authorization to the appropriate queues where user can withdraw payments (stop payments), if necessary and authorize the file to be sent out to the destination bank.

Transmission

PelicanPay will securely transmit the final instruction to the destination bank.

 

Further details about these processes are available in the downloadable functionality specification     CLICK HERE