+4Anyone has experiene with using the ISO20022 bank format within India?
Im working on a example for our bank (payment form KOTAK Bank to Citi bank) .
Trying to fill the neccesary fields , im searching for a way to fill the local code (like CITI0000XXXX) and were to fill te codes NEFT, IFT and RTGS.
Any one has an suggestion?
Best answer by Sugandi Nadeeshika
Hi
Could you share more details like what is the specific tag you are referring to?
I assume you are referring to Payment Method: KOTAK, and Payment Institute: Citi Bank.
I also assume by local code (like CITI0000XXXX) you are referring to Local Instrument Code defined at ‘supplier level’. If so you have to do the following.
1. Connect payment method KOTAK to you supplier > Payment tab.
2. Then under ‘electronic payment address’ window, define this code in the field ‘local instrument code’. So based on the relevance, you can define each code NEFT, IFT and RTGS in this field.
Best Regards
Sugandi
Hi
Could you share more details like what is the specific tag you are referring to?
I assume you are referring to Payment Method: KOTAK, and Payment Institute: Citi Bank.
I also assume by local code (like CITI0000XXXX) you are referring to Local Instrument Code defined at ‘supplier level’. If so you have to do the following.
1. Connect payment method KOTAK to you supplier > Payment tab.
2. Then under ‘electronic payment address’ window, define this code in the field ‘local instrument code’. So based on the relevance, you can define each code NEFT, IFT and RTGS in this field.
Best Regards
Sugandi
+4In discussion with the bank they can also build in the logic on their side witch is also a good option. but indeed this field was also recommended as sullution by Co-pilot.
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