TCCP - FUNDS.TRANSFER

FUNDS.TRANSFER Question and Answers

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Question: A Bank wants to take commission for transfer of Funds from One currency to other currency accounts, but not when the transfer is between accounts of same currency. How can this be set up in T24?

Answer: CCY.CONV.DEPENDENT Field of FT.COMMISSION.TYPE should be set as Yes

Question: A Bank wants to take commission for transfer of Funds from Account to Account automatically. How can this be set up in T24?

Answer: Possible by attaching the FT.COMMISSION.TYPE to the FT.TXN.TYPE.CONDITION record for Account to Account transfer

Question: A Bank wants to collect Tax on Commission along with Commission. How can this be set up in T24?

Answer: Possible by using TAX.CODE Field of the respective FT.COMMISSION.TYPE record

Question: T24 Bank wants to send USD to AIB Bank. Both of them have the same Correspondent Bank. It does not want to send any Cover payment for this transfer of Funds. How can this be set up in T24?

Answer: In AGENCY record of AIB Bank, AUTOROUTE.AGRD Field should be set as Yes

Question: A Bank is operating in a Country where exchange rates for some currencies are fixed by the Central Bank on a daily basis. For which currencies should it use the FIXING.DATE Field in CURRENCY table?

Answer: For all currencies whose exchange rates are Fixed by Central Bank

Question: A Bank wants to set rule that Funds Transfer done in GBP after 2 PM should automatically have the next day as Value date. How can this be set up in T24?

Answer: In CURRENCY table for GBP, CUT.OFF.TIME field should be used to determine the cut off point for default value dates on FT deals

Question: A Bank wants to define the following payment types in FT.TXN.TYPE.CONDITION - ODCL, ACMD, OC10, OT03, IT01 and IDLC. Is this possible in T24?

Answer: Not possible to set IDLC. Rest can be set up

Question: What is the use of OT Payment type in FUNDS.TRANSFER?

Answer: It can produce pay and cover cables automatically when required

Question: What is the difference between OC and OD Payment types in FUNDS.TRANSFER?

Answer: OC is used for issuing banker's cheques in local currency while OD is used for issuing drafts, usually in foreign currency

Question: How is BC Payment type used in FUNDS.TRANSFER?

Answer: For Outward transfers by local clearing

Question: While effecting transfers using OT type of transaction, a Bank wants to take a commission of 0.1% of the transaction amount for transfer. Can this be set up in FT.TXN.TYPE.CONDITION?

Answer: Yes. Pre-defined commission set up in FT.COMMISSION.TYPE can be defaulted for this type of transaction by defining in COMM.TYPES field.

Question: A customer of a T24 bank wants to pay a fixed amount towards his gas bill every month on a specific date. Is this possible in T24?

Answer: Yes, by using details of gas bill company from BENEFICIARY table and setting up standing order for monthly payment

Question: A T24 Bank often receives instructions from its Customers to stop Cheques issued from being paid due to various valid reasons. How can the Bank effect these while inputting a transaction?

Answer: While inputting a transaction, if Cheque number is indicated, T24 will check for Stop payment instructions

Question: A Bank wants to ensure for AC type of transaction, the value date should always be the run date and the inputter should not put a different date without generating overrides. How can this be parameterised in FT.TXN.TYPE.CONDITION ?

Answer: FORW.VALUE.MAXIMUM and BACK.VALUE.MAXIMUM Fields should be set as "Y"

Question: A Bank wants to ensure for OT type of transaction, that the value date input by a User should never be less than Backward value date specified in the DATES file. If less, then error should be generated. How can this be parameterised in FT.TXN.TYPE.CONDITION ?

Answer: BACK.VALUE.MAXIMUM Field should be set as "N"

Question: A Bank has indicated "+01W+02C" in FORW.VALUE.MAXIMUM Field of FT.TXN.TYPE.CONDITION for BC type of transaction. What is the effect of this while inputting FT transactions of BC type?

Answer: The maximum period of Forward Value/exposure acceptable for this type of transaction without generating an override is 1 working day plus 2 calendar days forward

Question: What is the use of BACK.VALUE.MAXIMUM Field in FT.TXN.TYPE.CONDITION ?

Answer: This prevents the user from inputting a backward value as well as exposure dates which exceed the indicated period, by raising suitable override

Question: A Bank has parameterised DATES File to have 7 days as FORW.VALUE.MAXIMUM and "+03W+02C" in FORW.VALUE.MAXIMUM Field of FT.TXN.TYPE.CONDITION for BC type of transactions. Will T24 accept a future value date which is 8 days in future?

Answer: No. This could be in line with rule set in FT.TXN.TYPE.CONDITION. But, this is not in line with rule set in DATES table. DATES table rules will be applied even if FT.TXN.TYPE.CONDITION rules permit. The transaction will not be allowed

Question: How can a Bank enjoy float on transactions done through FUNDS.TRANSFER?

Answer: It is possible to choose Customer float periods, by having different value dates for debit and credit sides of a same transaction

Question: A Bank wants to apply Customer float of 2 days for all the outward transfers. How can this be achieved in T24?

Answer: This can be achieved by setting up float in Outward transaction type in FT.TXN.TYPE.CONDITION

Question: A Bank wants to default the Value date of transactions of debit and credit accounts of same currency as System date for its AC type of FUNDS.TRANSFER. How can this be parameterised in FT.TXN.TYPE.CONDITION?

Answer: PAYMENT.TYPE Field should be set as "NOCONV" and PAYMENT.VALUE Field should be set as "Y"

Question: A Bank wants the User to input the Value date of transactions, if the debit and credit accounts are of different currencies for its AC type of FUNDS.TRANSFER. How can this be parameterised in FT.TXN.TYPE.CONDITION?

Answer: PAYMENT.TYPE Field should be set as "CONV" and PAYMENT.VALUE Field should be set as "N" or "NO"

Question: For AC type of FUNDS.TRANSFER transactions, a Bank does not want to apply any Float if the Debit and Credit accounts belong to the same Customer and 1 day float if they belong to different Customers. How can this be parameterised in FT.TXN.TYPE.CONDITION?

Answer: CUSTOMER.FLOAT and SAME.CUST.FLOAT Fields are to set as "1" and "0" respectively

Question: A Bank desires that in certain cases it does not want to generate Debit advices, but would like to send only Credit advices to its customers. How can this be parameterised in FT.TXN.TYPE.CONDITION?

Answer: DR.ADVICE.REQD.Y.N. Field should be set as "N" and CR.ADVICE.REQD.Y.N. Field should be set as "Y"

Question: For AC type of FUNDS.TRANSFER transactions, a Bank wants to send MT 210 message, notifying the receiver that it will receive funds for the sender’s account. How can this be parameterised in FT.TXN.TYPE.CONDITION?

Answer: In T24, MT 210 cannot be sent for AC type of FUNDS.TRANSFER transactions

Question: For OB type of FUNDS.TRANSFER transactions, a Bank wants to send MT 210 message, notifying the receiver that it will receive funds for the sender’s account. How can this be parameterised in FT.TXN.TYPE.CONDITION?

Answer: MESSAGE.COND.ID field should be set as "210" for this

Question: A Bank wants to ensure that MT 200 message should be generated when it transfers funds between two of its own Nostro accounts. How can this be parameterised in FT.TXN.TYPE.CONDITION?

Answer: It should create suitable "OT" type of FT.TXN.TYPE.CONDITION and NOSTRO.XFER.TYPE Field should be set as "200"

Question: A Bank wants to ensure that MT 202 message should be generated when it transfers funds from its Nostro account to some other account. How can this be parameterised in FT.TXN.TYPE.CONDITION?

Answer: It should create suitable "OT" type of FT.TXN.TYPE.CONDITION and NOSTRO.XFER.TYPE Field should be set as "202"

Question: A Bank wants to ensure that Beneficiary's name is always provided for outward transfers meant for beneficiaries other than banks. Can this be parameterised in T24 and how ?

Answer: Yes. In FT.TXN.TYPE.CONDITION, NO.BEN.CUST.Y.N field could be set as "Yes", by which BEN.CUSTOMER field in the FT will be mandatory

Question: A Bank wants to ensure that MT 103 message should be generated when it transfers funds from its Customer account to external bank accounts of beneficiaries through a Nostro account. How can this be parameterised in FT.TXN.TYPE.CONDITION?

Answer: It should create suitable "OT" type of FT.TXN.TYPE.CONDITION and MESSAGE.TYPE Field should be set as "103"

Question: A Bank wants to send MT 110 message as advice of Cheque when it uses FUNDS.TRANSFER application. Can this be parameterised in T24 and how ?

Answer: Yes. For OC or OD type of FT.TXN.TYPE.CONDITION, MESSAGE.TYPE Field should be set as "110"

Question: Instead of using Free text or Customer Id, a Bank wants to use SWIFT BIC addresses of intermediary and other banks in FUNDS.TRANSFER application. Is this possible in T24?

Answer: Yes. If SWIFT.ADDRESS Field in FT.TXN.TYPE.CONDITION is set as "YES", then this is enabled for the respective transaction types. The address in FT should be preceded by "SW"

Question: A T24 Bank receives SWIFT 202 messages to credit accounts of senders at 'Acct with institution' in tag 57. The Bank desires to instruct 'Acct with Institution' residing in the same country to credit sender's account? Is this possible in T24?

Answer: Yes. In the respective FT.TXN.TYPE.CONDITION, FWD.IN.TXN Field should be set as "202"

Question: A Bank wants to set up two records AC01 and AC02 in FT.TXN.TYPE.CONDITION. The first to allow account to account transfers even if they are of different currencies and the second to allow such transfers if only both the accounts are of same currency. How can such a rule be ensured in T24?

Answer: In FT.TXN.TYPE.CONDITION, for AC01 type of Transaction, ALLOW.EXCHANGE Field should be set as "Y" or left blank and for AC02 type of Transaction, it should be set as "N"

Question: A Bank wants to default exchange rates from Currency market 1 and 2 for AC and OT types of Funds transfers respectively. Is this possible in T24?

Answer: Yes. DEFAULT.DEAL.MKT Field of FT.TXN.TYPE.CONDITION for AC and OT types should be set as 1 and 2. Then this can be achieved

Question: On December 30 itself, a Bank wants to input and authorise Funds Transfers meant to be processed on January 2. Is this possible in T24?

Answer: Yes. Such transactions will be identified with specific Funds Transfer status codes of AFWD.

Question: A Bank wants to input and authorise Funds transfer transaction with future processing date. It would like T24 to automatically use the exchange rates prevailing at the time of processing and not at the time of input. Is this possible in T24 ?

Answer: Yes. It should set RECALC.FWD.RATE Field as "YES" for the respective FT.TXN.TYPE.CONDITION

Question: A Bank wants to set a condition for checking possible duplication of inputting outgoing Funds transfers. If debit amount, debit account and debit value dates are same, it would like to be warned about possible duplication. Is this possible in T24?

Answer: Yes. Rules for possible duplicates are parameterised in EB.DUPLICATE.TYPE. In FT.TXN.TYPE.CONDITION, for a given transaction type, we can stipulate which records of EB.DUPLICATE.TYPE are to be considered as applicable for duplicate checking by indicating their record Ids in DUPLICATE.CHECK Field

Question: A T24 bank wants to automatically match an incoming payment with an expected payment in the system? Is this possible to be set up in T24?

Answer: AC.EXPECTED.RECS records of RECEIPT type can be created automatically for possible automatic or manual matching with EXPECTED records

Question: A Bank wants to reverse a FT record on 15th of September 2009. The record was input and processed on the 10th of September 2009. Is this possible in T24?

Answer: Yes. If HIS.REVERSAL Field of FT.TXN.TYPE. CONDITION is set as "YES", then it is possible to reverse the FT records which are in History for that particular type of transaction

Question: A Bank observes that a FT record is kept in Hold status with details in IN.PROCESS.ERR field in the case of an incoming funds transfer resulting out of MT103 message. What is the reason for this ?

Answer: Charges and commission meant for the bank would have been indicated in Tag 71g of the incoming MT103. The Bank would not have indicated the necessary FT.CHARGE.TYPE record in IN.CHG.CODE Field of the respective FT.TXN.TYPE.CONDITION

Question: A Bank wants to input a FT with credit value date as 20th January and debit value date as 21st January of the same year. Is this possible in T24?

Answer: This will be allowed only for AC type of transactions if in the respective FT.TXN.TYPE.CONDITION record, DB.AFTER.CR Field has been set as “YES”

Question: A Bank wants to ensure that the debit value date, if it happens to be after credit value date, should never be more than 30 working days. Is this possible in T24?

Answer: No. It is not possible to set such rule for working days as T24 allows mentioning only calendar days

Question: To discourage low value outward transfers, a Bank would not like any outgoing transfers less than USD 100, where it has to collect charges from the credit amount, as its minimum charges are USD 95. Its local currency is USD. How can this be set up in T24?

Answer: In FT.APPL.DEFAULT, it should indicate "100" in LESS.CHARGES.LIMIT Field

Question: A Bank wants to send advice to Claim Charges from ordering banks automatically when it transfers Funds. How can this be enabled in T24?

Answer: When the Internal account specified in CLAIM.CHARGES.ACCT Field of FT.APPL.DEFAULT is input as the Charge Account number in a FT transaction, a Claim Charges advice is sent to ordering bank automatically

Question: A Bank wants to take charges for sending non tested messages, which is in addition to charges for prime payment messages. How can this be enabled in T24?

Answer: SECONDARY.TLX.CHG Field of FT.APPL.DEFAULT can be used to define FT.CHARGE.TYPE code to be applied when FREE.TEXT.MSGTO and MESSAGE Fields in FT are used to send free text messages

Question: In the case of outward transfer, a Bank wants to default charges based on Correspondent bank instead of its own client ordering the transfer. Is this possible to be set up in T24 ?

Answer: Yes. DEF.CORR.BANK.CHGS Field in FT.APPL.DEFAULT to be set as ‘YES’. CORR.BANK.CHARGES application to be set up for each Correspondent, and optionally transaction type

Question: In the case of balance maintenance type of Standing orders, a bank would like them to be executed, only if it involves transfer of atleast USD 10, GBP 5 and EUR 20. Is this possible to be set up in T24?

Answer: Yes. MIN.STO.CCY and MIN.STO.AMT Fields of FT.APPL.DEFAULT can be used to set such rules

Question: A Bank wants to set a rule that Standing orders should be automatically resubmitted for the next 15 days, if they have failed due to insufficient funds. Is this possible to be set up in T24?

Answer: No. NO.RESUBMSSN.DAYS Field of FT.APPL.DEFAULT can be set only for a maximum of 10 days. Hence, failed Standing orders can be set to be resubmitted only for a maximum of 10 days

Question: A Bank has defined the CUT.OFF.RULE for a Customer in AGENCY table as 1. A OT transaction is done in GBP after the CUT.OFF.TIME for GBP for the customer. What will be the debit value date of the OT transaction if it is done on 14th Feb, assuming that the next four days are working days .

Answer: 16th Feb

Question: Pick out the correct statement regarding CUSTOMER.CHARGE table

Answer: System creates a record for every Customer here as soon as a new record is created in CUSTOMER application

Question: How many Balance maintenance Standing orders can be defined on an Account ?

Answer: Maximum 100

Question: A Bank has set up a record in FT.COMMISSION.TYPE defining charges in USD and GBP for Funds transfers. Its local currency is USD. If a Funds transfer is effected in Euro, how will T24 apply charges for the Euro transaction ?

Answer: T24 will calculate the equivalent amount in Euro based on rules set for charges for Default currency

Question: A Bank wants to automatically charge all account to account transfers with a flat amount of USD 10. How and where should this be setup?

Answer: Setup CHARGE/COMMISSION type in FT.TXN.TYPE.CONDITION with record Id beginning with AC

Question: Which frequency setting is not allowed for Balance maintenance type of Standing Order?

Answer: Daily

Question: Which table is used to define different Charges, Commission or Customer spreads on exchange rates for different groups of Customers in Funds Transfer transactions ?

Answer: FT.GROUP.CONDITION

Question: Can charge and commission amounts be accounted separtely from the transaction amounts in a Funds Transfer transaction?

Answer: Yes, charge and commission accounting entries can be raised separately using CHG.COMM.SEPARATE field in FT.GROUP.CONDITION

Question: When is a 'PP' type of Standing order used in T24?

Answer: When Periodic Payment of bills, including varying amounts, is made to third parties

Question: When is a 'PPI' type of Standing order used in T24?

Answer: When Periodic Payment of Interest capitalised in an account is transferred into another account

Question: What are the different types of MT103 messages that can be generated from T24?

Answer: MT103, MT103+, MT103EXTEND

Question: When there is an incoming MT102 message, T24 will generate the following provided there are no errors.

Answer: Either A or C depending on the setup during parameterisation

Question: Which application is used to combine multiple payment messages from FT?

Answer: NETTING

Question: Which of the message types, generated by FT, can contain multiple instructions?

Answer: MT101,MT102,MT203

Question: Which application is used to allow the processing of incoming MT103 when cover MT202 is not received?

Answer: ER.COVER.LIMIT

Question: An inward MT103 is received in a T24 bank. The presence of which tag represents that an onward payment is requested?

Answer: Tag 57(Acct with institution)

Question: A Bank inputs an outward transfer wherein, the sender's charges for the transfer are borne by ordering customer and the receiver's charges are borne by beneficiary customer. How can this be effected?

Answer: Input SHA in BEN.OUR.CHARGE Field and opt for DEBIT.PLUS.CHARGES

Question: A Bank desires that the charge entries are shown separately. The following is the setup for charges. BEN.OUR.CHARGE is set to BEN and the COMMISSION.CODE is set to CREDIT.LESS.CHARGES. What is the setup required to enable this?. Assume that it is an outward transfer

Answer: Such a setup in T24 is not possible

Question: Identify the swift message below: {1:F01DEMOGBPXAXXX.SN...ISN.}{2:I103CRESCHGVXXXXN}{3:{108:xxxxx}{119:STP}}{4: :20:FT09009MHW42 :23B:CRED :32A:090109USD144000,00 :33B:USD144000,00 :50A:AIBKSGSG :53B:/D/EXTNWE32323 :59A:/121212 AEIBUS33 :71A:SHA -}

Answer: Outgoing MT103+

Question: A Bank wants to credit salaries to employees on the 30th of every month by debiting the Bank's salary account and crediting multiple employee accounts. What would be the application in T24 that would be the best fit ?

Answer: BULK.STO

Question: A Bank desires to execute FT.BULK.CREDIT online by the user. Which application in T24 has to be used to enable this?

Answer: SINGLE.INWARD.BULK

Question: A Bank wants that the user should be able to execute BULK.STO online, what would be the application used to enable this?

Answer: SINGLE.BULK.STO

Question: An FT transaction is in status ANORATE? What does this signify?

Answer: The FT is authorised and the Rate has not been applied

Question: A Bank is inputting a transaction with the following: Debit account number - Internal account Credit account number - Customer account Debit amount - USD 1000 COMMISSION.CODE - DEBIT.PLUS.CHARGES COMMISSION.TYPE - valid code from FT.COMMISSION.TYPE, assume charge amount as USD 10 . CHG.COMM.SEPARATE is set to NO in FT.GROUP.CONDITION What accounting entries would be generated?

Answer: Such a transaction is not possible in T24

Question: An FT transaction is input with the following: CHARGE.CODE - DEBIT.PLUS.CHARGES CHARGE.TYPE - valid charge type in FT.CHARGE.TYPE To this charge a tax is attached. The Bank wants separate debit entries for charges and taxes to appear in Customer accounts. How can this be enabled in T24?

Answer: Charge and relative tax entries cannot be shown as separate entries

Question: In MT103 and MT202, tag 72 represents sender to receiver information i.e. bank to bank info. A Bank is generating a payment message 103 along with cover cable 202 and wants the tag 72 information to be present only in tag 72 of the MT103. How can this be enabled in T24?

Answer: Set SEND.TO.PARTY Field as RCVBK and provide required info in BK.TO.BK.OUT field

Question: In FUNDS.TRANSFER, what message type is sent by the collecting bank to remitting bank and is used to advise payment under a collection?

Answer: MT400

Question: An FT is in a status AFWD. How is this status arrived at?

Answer: Inputting a forward date in PROCESSING.DATE Field

Question: What is the rate that is used in FT to convert charge amounts?

Answer: Mid Reval rate from currency table

Question: When a user inputs a BC type transaction, what is the file that decides which clearing system to use?

Answer: FT.BC.PARAMETER

Question: During authorisation of FT, an override "MT103.PRODUCED.NOT.MT103PLUS" is generated. What does this indicate?

Answer: There is an error during MT103+ generation and MT103.CONTROL in FT.APPL.DEFAULT is set to NULL

Question: A customer instructs T24 Bank to pay USD 100 to an account maintained in Amex bank Newyork. T24 Bank and Amex Bank Newyork do not maintain a direct account relationship, hence payment has to be routed through correspondents. What is the swift message generated in such a scenario?

Answer: T24 Bank sends MT103 to Amex bank Newyork and a cover cable MT 202COV to its correspondent Bank instructing them to pay Amex Bank

Question: A user enters an FT with charge details and during validation, encounters the error “PROFIT.CENTRE.DEPT or CUST must be input”. On correcting the FT, user observes that charge and commission details entered previously are cleared. Bank does not want these entered details to be deleted when there is an error. How can this be overcome in T24?

Answer: If CHG.COM.ON.ERR Field in FT.APPL.DEFAULT is set to RETAIN

Question: A Bank has classified a group of customers as privileged, and has decided to charge 50% of the regular charges to them. For this privileged group, charges and commission should be shown as separate entries in statement. How can this be effected in T24?

Answer: Classify them as a group and define required special conditions in FT.GROUP.CONDITION

Question: A Bank wants to input an outward transfer where, charges due to this transaction are borne by the ordering customer. What are the options to be selected?

Answer: BEN.OUR.CHARGE to OUR and DEBIT.PLUS.CHARGES

Question: The bank wants to input an outward transfer where, charges due to this transaction are borne by the beneficiary. What are the options to be chosen?

Answer: BEN.OUR.CHARGE to BEN and CREDIT.LESS.CHARGES

Question: System date is 31 Jul 2009. A Standing Order is set to process on 02 Aug 2009 which is a holiday as per COMPANY table. Bank has set BATCH.HOLIDAY in COMPANY record to run 365 days a year i.e. a BATCH runs every day. The Standing Order has DATE.ADJUSTMENT set to PRECEDING. When will this FT get processed and what would be the value date? (Assume that there is no debit or credit value gap, only 02 Aug is a holiday and STO type is FI)

Answer: On 31 July COB 2009 (during SOD) with value date of FT being 01 Aug 2009

Question: A bank receives incoming 202 cover message.It has FWD.IN.TXN set as YES. What will be the DE.MESSAGE used for onforwarding instructions?

Answer: 205C

Question: A bank receives incoming 202 cover message.It has FWD.IN.TXN set as 205. What will be the DE.MESSAGE used for onforwarding instructions?

Answer: This setup is not possible in T24

Question: A bank receives incoming 202 cover message.It has FWD.IN.TXN set as 202. What will be the DE.MESSAGE used for onforwarding instructions?

Answer: 202C

Question: A bank receives incoming 202 message.It has FWD.IN.TXN set as YES. What will be the DE.MESSAGE used for onforwarding instructions?

Answer: 205

Question: FT has processing date as 1st Feb '2011. It is set with delivery message date for '202 message as 4th feb 2011. When is the delivery message generated if there is no holidays in between?

Answer: During COB of 3rd feb 2011

Question: FT has processing date as 1st Feb '2011. It is set with delivery message date for '202 message as 4th feb 2011. When will the FT move to history ?

Answer: During COB on 1st FEB '2011

Question: Bank's current date is 2nd Feb 2011. FT has DEBIT.VALUE.DATE of 2nd Feb 2011 and CREDIT.VALUE.DATE of 1st Feb 2011. Processing date of FT is 3rd FEB 2011. When will the delivery messages get raised from FT ?

Answer: On 3rd FEB 2011

Question: A bank does not want to raise payment delivery messages for FT transactions when the rates are not fixed. Is it possible to setup in T24 ?

Answer: Possible by appropriate setup of FT.APPL.DEFAULT

Question: BO type standing order is Setup for GBP 1000. Account has balance of GBP '450. FT.APPL.DEFAULT is setup with MIN.STO.AMT as '400 for GBP currency. What happens in this scenario?

Answer: STO is not executed

Question: BI type standing order is Setup for GBP 1000. Account has balance of GBP '450. FT.APPL.DEFAULT is setup with MIN.STO.AMT as '400 for GBP currency. What happens in this scenario?

Answer: 550 will be credited to Account

Question: BP type standing order is Setup for GBP 1000. Account has balance of GBP '650. FT.APPL.DEFAULT is setup with MIN.STO.AMT as '400 for GBP currency. What happens in this scenario?

Answer: STO is not executed

Question: BP type standing order is Setup for GBP 1000. Account has balance of GBP '650. FT.APPL.DEFAULT is setup with MIN.STO.AMT as '400 for GBP currency. MIN.TRANSFER.AMT in standing order is 300. What happens in this scenario?

Answer: 350 will be credited to Account

Question: A T24 bank has a setup such that upto amount 10000, the incoming transfers can be processed automatically. An internet banking user does a transaction for 10050, what will happen in this scenario?

Answer: The bank's setup will not affect the transaction and the transaction will be successful

Question: A bank wants to restrict transactions where charges exceeds the outward payment amount. Which application should be used to achieve this funtionality ?

Answer: FT.APPL.DEFAULT

Question: A bank wants to print detailed narrative in statements for the customer like Payment details, Ordering details etc for the entries raised from FT application . Which application should be used to configure this in T24?

Answer: ACCOUNT.STATEMENT

Question: A customer wishes to cover his overdraft current account by transfer of funds from his savings account. He has given the supplementary balance to be transfed as '1000. His balance in Savings account is '5000 and current account is overdrawn by '2000. What will be the balance in Current account after standing order is executed

Answer: 1000

Question: A customer wishes to cover his overdraft current account by transfer of funds from his savings account. His balance in Savings account is '500 and current account is overdrawn by '2000. He wishes to maintain MIN.BAL.B.ACCT in standing order is set as '400. What will be the balance in Current account after standing order is executed

Answer: -1900

Question: What is the repayment type for past dues which gets created from RC type of standing order

Answer: CP

Question: What are the Default transaction type of funds transfer created during closure of accounts ?

Answer: Either AC or BC

Question: What is the message to be generated when there is a movement of funds between financial institutions related to an underlying customer credit transfer?

Answer: MT202COV

Question: What is the the onforwarding message that is generated when an incoming MT202COV is processed?

Answer: MT205COV

Question: What is the more structured form or tag representation of ordering customer introduced by swift?

Answer: Tag 50F

Question: Which of the following is true in case of an ordering customer specified in the ORDERING.CUST field in FT?

Answer: Ordering Customer is a person who initiates the transaction and he can either be a customer of the bank or a walk in customer.

Question: What is the name of the field in Funds Transfer which is used to specify the code of the ordering customer when he is not a customer of the T24 bank?

Answer: ORD.CUST.CODE

Question: What is the name of the field FUNDS.TRANSFER which is used to populate the tag 23B in an MT103 message

Answer: BK.OPERATION.CODE

Question: On 12 March 2009, A Customer 1234 orders his Bank A in Brussels to pay USD10000 to Customer 4567 who has an account with Bank B in London. Assuming T24 Funds Transfer application is used what would be the messages generated.

Answer: A credit transfer 103 to Bank B and an MT202COV to its correspondent Bank C for the credit of Bank B's account

Question: What is the name of the parameter file which is used to define the type of bulk payment?

Answer: FT.BULK.UPDATE.TYPE

Question: To which file the header information of the uploaded file will be loaded in case of bulk credit upload?

Answer: FT.BULK.MASTER

Question: What is the name of the file to which the data specified in the 'body' text gets uploaded?

Answer: FT.BULK.ITEM

Question: What is the name of the field where we can specify the FT.TXN.TYPE.CONDITION record to be used to handle transfer of funds between ACTIVE.ACCOUNT and PASSIVE.ACCOUNT when it is a non T24 account?

Answer: ACTIVE.PASSIVE.EXT

Question: What is the name of the service which is run to upload the files to FT.BULK.MASTER and FT.BULK.ITEM?

Answer: T24.UPLOAD.PROCESS

Question: What is the format of the id of FT.BULK.ITEM?

Answer: ;.;

Question: In the FT.BULK.MASTER the SINGLE.MULTI field is set to SINGLE with DEBIT.CREDIT indicator as CREDIT, what will be the accounting entries when this master and its corresponding items are processed?

Answer: A transaction for the total amount is transferred from the ACTIVE.ACCOUNT to the WASH.ACCOUNT and the subsequent debits from the wash account are done crediting the item accounts.

Question: Please identify the below message {1:F01TEMEUS33XXXX.SN...ISN.} {2:I202CEDELULLXXXXN}{3: {108:xxxxx}{119:COV}} {4: :20:FT01002S031R3RSR :21:FT01002S031R3RSR :32A:010102USD144000,00 :56A:IRVTUS3N :57A:ECBFDEFF :58A:AIBKGB2L :50A:TEMEUS00039 :59:BANK OF ENGLAND -}

Answer: Outgoing MT202COV

Question: In the FT.BULK.MASTER the SINGLE.MULTI field is set to MULTI with DEBIT.CREDIT indicator as CREDIT, what will be the accounting entries when this master and its corresponding items are processed?

Answer: The ACTIVE.ACCOUNT is debited and the item accounts are credited

Question: When issuing the local currency Draft, what is the field that should be used to specify the Draft number?

Answer: STOCK.NUMBER

Question: What is the name of the table which records the status of the Draft?

Answer: CHEQUE.REGISTER.SUPPLEMENT

Question: A Customer walks into the bank and requests for a draft to be issued by giving his self cheque. What is the field which should be used to specify the cheque number of his cheque?

Answer: CHEQUE.NUMBER

Question: What is the name of the file which is used to define the layout of incoming generic accounting interface?

Answer: AC.ENTRY.PARAM

Question: The user is using Generic accounting interface and he wants to balance the entries by currency, value dates, irrespective of sign, netting all the debit and credit entries. What is the settings to be done?

Answer: Set the value in the CONTRA.ENTRY of the AC.ENTRY.PARAM to CCY.VAL.NET

Question: The user is using Generic Accounting interface and he wants to balance by currency, netting debit and credit entries irrespective of value date. What is the settings to be done?

Answer: Set the value in the CONTRA.ENTRY of the AC.ENTRY.PARAM to CURRENCY.NET

Question: What is the name of the API which is used to process and create entries in Generic Accounting Interface

Answer: AC.INWARD.FILE

Question: The field UPDATE.REPORT.FILE of AC.ENTRY.PARAM record is set to UNIQUE. What is the impact of this?

Answer: The id of the AC.INWARD.ENTRY will be unique in the format ;.;

Question: When T24 message receives an incoming MT940 or MT950, how should this be diverted to Reconciliation module?

Answer: It will not be taken for formatting and will be directly diverted to EXTERNAL.LOCATION specified in the NR.PARAMETER by local interface.

Question: When the T24 server receives the message, from where the account for which the reconciliation to be done is picked up.

Answer: From tag 25 of the statement message

Question: The outgoing MT940 generated by T24 should be in this location for the NR phantom to pickup and process the record.

Answer: In the GLOBUS.LOCATION specified in the NR.PARAMETER record

Question: What is the tag reference from where the frame number or page number of the incoming or outgoing statement is picked up?

Answer: Tag 28C in the message

Question: T24 generates an outgoing account statement and this when put in the NR directory and when the NR phantom is run, What is the record that is getting created?

Answer: Ledger statements and Ledger items

Question: T24 receives an incoming account statement and on running NR phantom, What is the record that is getting created

Answer: Statement NR.STATEMENTS and statement items

Question: "What could be the result of the below scenario when the statement item and ledger item is matched manaully(assuming AMOUNT is one of the MATCHING criteria defined in NR.PARAMETER and SPLIT.ITEMS is set to YES) RECO.TOLERANCE in the ACCOUNT record = 100 statement ITEM amount= 2200 Debit Ledger ITEM amount = 2000 Credit"

Answer: The SPLIT ITEM ie NR.ITEM is created for Rs 200 in the ledger side

Question: "What could be the result of the below scenario when the statement item and ledger item is matched manually (assuming AMOUNT is one of the MATCHING criteria defined in NR.PARAMETER and SPLIT.ITEM is set to YES) RECO.TOLERANCE in the ACCOUNT record = 500 Statement ITEM amount = 2200 Debit Ledger ITEM amount = 2000 Credit "

Answer: The EXCESS.CENTS field in the NR.ITEMS iS populated with 200 and the item gets matched

Question: One of our clients wanted to match the debit and credit entries of an internal suspense account using Nostro reconciliation module, how this can be done?

Answer: By giving the id of the account in the LEDG.RECO.WITH field

Question: One of our customers have given LEDG.RECO.WITH field in the USD suspense account USD100010001 as the id account. He creates account statement for that account and then takes it to the NR directory. When he runs NR.DECODE phantom, what will be the result

Answer: The Debit entries will form as a Ledger items in NR.ITEMS and credit entries will form as Statement items in NR.ITEMS

Question: When a message is put in the NR directory and the phantom NR.DECODE is run, what will be the result. Assume that it is a multiple page statement

Answer: NR.STATEMENT gets created for each message and when STATEMENT.COMPLETE field in the NR.STATEMENT is set to YES, then NR.ITEMS is created.

Question: Suppose you are processing a statement message with 10 frames, how will the system identify the last frame?

Answer: When there is a 62F tag

Question: When an incoming statement message is received with account number which is not represented in T24, what will be process while creating NR.STATEMENTS and NR.ITEMS

Answer: Fetch the Agency of the customer and then check whether this reference is present in OUR.EXT.ACC.NO field and if found, get the corresponding nostro and if not found, proceed to create NR.STATEMENTS and NR.ITEMS.

Question: A client has a requirement where he wanted to match one to many items. Which of the following is correct?

Answer: Yes, it is possible by manual matching where the difference amount is put in EXCESS.CENTS field in NR.ITEMS

Question: A client has a requirement where he wants to match many to many items. Which of the following is correct?

Answer: Many to Many matching is not possible

Question: What is the maximum number of characters accepted by Swift for MT940 or MT950

Answer: 10000

Question: What is the default rounding rule followed in FUNDS.TRANSFER module ?

Answer: Natural

Question: When the receipt of funds is recorded in FT, what is the status of the AC.EXPECTED.RECS record that is created automatically?

Answer: Waiting

Question: What is the matching criteria for automatic matching of AC.EXPECTED.RECS record ?

Answer: RECEIPT/PAYMENT with WAITING

Question: AC.EXPECTED.RECS is automatically created for which of the following message types ?

Answer: MT210

Question: ER.PARAMETER can have which of the following as id ?

Answer: SYSTEM or COVER

Question: What is the type of message generated for follow up of unmatched AC.EXPECTED.RECS records ?

Answer: MT195

Question: For automatic Correspondent limit checking what should be the value in field AWAIT.COVER ?

Answer: LIM

Question: For recording EXPECTED.RECEIPTS of regular type, what is the application used in the Expected receipts module ?

Answer: STANDING.ORDER

Question: What is the STO.TYPE that is used for recording regular (periodic) EXPECTED.RECEIPTS ?

Answer: DIARY

Question: Which is the application that is used to process files received through Local clearing ?

Answer: FT.TAPES

Question: In which application do we setup the local transactions codes used for local clearing ?

Answer: FT.LOCAL.TXN.CODES

Question: In which concat file is the FUNDS.TRANSFER id written into, if the status of the same is "ANORATE" for want of rate fixing?

Answer: FT.NORATE

Question: Which application is used to create the layout and options for accounting entries that are directly uploaded from flat file through Generic Accounting Interface ?

Answer: AC.ENTRY.PARAM

Question: Default Holiday setup for the country is GB01 however for a particular standing order, user wants to differnt holiday table created in HOLIDAY application & whether this can be done in T24

Answer: In standing order the required holiday table can be added in the field BUS.DAY.DEFN field

Question: User in a Bank manully matched statement Credit item with a ledger debit item on day 1 for a Nostro Account for USD 1000. However on day 2, user released that the matching was incorrect and he wants to correct the mistake - how this can be achieved

Answer: User can clear the matched id field value in any one of the leg of the NR Item so that the same NR ITEMS record can be matched again.

Question: As there was a problem with incoming swift queue, Bank has not received the MT950 messages from the correspondent Bank - however Bank wants to process the Nostro reconciliation for the day. Pl. suggest how this can be achieved.

Answer: Bank can request for copy of the Swift message from the Corr. Bank so that details can be inputted manully in NR.STATEMENTS so as to create Statements("S") leg.

Question: Bank want to indicate in tag 20 of MT103 with the User Department code who processed the the FT. How this feature can be achieved

Answer: In FT.APPL.DEFAULT, the field CENTRALISED.FT can be set to Y to auto populate the reference with User Department Code.

Question: Bank doesnot want Users to Input the BIC code in the format of "SW-" directly in the Bank related fields like Acct with Bank / Intermediary bank etc in Funds Transfer application & wants it should be either valid customer or free text. How this can be Achieved.

Answer: SWIFT.ADDRESS field in FT.TXN.TYPE.CONDITION for the required transaction type can be set to No to disallow user from Inputting BIC code directly

Question: Bank want to setup the priority comission/charge conditions for Funds Transfer based on the Customer Residence /Sector. How this can be achieved.

Answer: CONDITION.PRIORITY can be added with required fields from Customer & same can be linked to FT.GEN.CONDITION and FT.GROUP.CONDITION

Question: Bank processed outward Outward MT103 For USD 10,000 with the BEN.OUR.CHARGES as BEN along with sending Bank charge of USD90 by inputting the COMMISSION.AMT of USD 90 with COMMISSION.FOR as SENDER. In such case how much amount will be remitted/credited to the Nostro Account.

Answer: Nostro will be credited for USD9,910 as the sending bank charges will be recovered from the Beneficiary

Question: Bank has FT records which are with status as INORATE/ANORATE because of Rate Fixing Functionality. In Browser front end, what processing to be done to clear these statuses and generate the required accounting entries.

Answer: Once the rate is fixed, User can run the TSA.SERVICE for record FT.RATES.FIXING.PROCESS to generate accounting entries.

Question: Bank uses commission code of ACTRF with commission amount of USD 100 flat. For a Particular customer ABC Ltd with Customer ID as 100100, Bank wants to charges 10% more ie USD 110 for the Account Transfer. How this can be achieved in FT.

Answer: FT.GROUP.CONDITION can be created with the @ID as C-100100 & for the commission type ACTRF for CURRENCY USD, the COMM.PREMIUM field can be specified as 10

Question: Bank wants to generate MT202 cover message with the MT103 payment details such as Ordering / Beneficiary customer etc. How this can be achieved in FT

Answer: When MT103+202 is processed in FT along with Receiver Bank field - system by default will generate MT202COV message with the details of MT103.

Question: Netting parameter is set to generate MT102 for a Bank. However, for a particular transaction in FT , Bank wants to exclude the transaction from Netting and generate the message as MT103. Is it possible.

Answer: Its possible by setting the Flag in NETTING.STATUS as "N" for the required Funds transfer transaction.

Question: Bank wants to customise the defaulting of transaction types while processing Inward MT103 messages through STP from other Banks. How this can be achieved.

Answer: DE.I.FT.TXN.TYPES for the Message type 103 can be added with the required transaction type for the appropriate multi value for the defaulting.

Question: Bank wants to only to view the incoming Swift MT103 message received using EB.FREE.MESSAGE and doesn't want to pass any accounting entries. How this can be done?

Answer: By attaching the DE.I.MTBYPASS routine in INWARD.OFS.RTN field in DE.MESSAGE for record Id 103 along with creation of required records in EB.ACTIVITY/EB.ADVICES/VERSION

Question: How can you change the stage of executing a standing order whether start of day or End of day execution?

Answer: By specifying the stage of execution at the Standing order

Question: Created 2 standing order for an account as ACCOUNT.1 & ACCOUNT.2 with same frequency. Customer wants standing order with the id as ACCOUNT.2 to be executed first and then the ACCOUNT.1. what setup is required for this.

Answer: Priority number in standing order can be used for this purpose

Question: For Diary type of standing order, what is the accounting entry is raised on the execution date

Answer: No Accounting entries are raised for Diary on the exuection date.

Question: Bank wants to setup different matching conditions to match the Incoming with Outgoing NR Items for a particular inward transaction type NCHG - How this can be setup.

Answer: NR.PARAMETER can be added with the Trans type as NCHG and required matching conditions can be provided for the required lead company code

Question: After running the NR process message services, new record created in NR.STATEMENTS as "15377.20131001.L.1.1.1" What is the signifiance of this.

Answer: This indicates Duplicate ledger statement received for account 15377 with the date 1st Oct 2013 for the ledger sequence number as 1 and page no 1.

Question: Bank is Processing an account to account Funds Transfer for an Internal account which are having a Position type of "IF" in Account application, in such case what will be the value to be provided in FT for the field POSITION.TYPE

Answer: POSITION.TYPE in FT is auto defaulted from Account application and Position type has to be same as the debit/credit ACCOUNT's Position type defined.

Question: Client wants to transfer 10% of the amount in excess of USD10,000 to another account using Standing order surplus transfer type.

Answer: PER.OVER.CAB field can be specified with the percentage 10% along with CURRENT.AMOUNT.BAL as 10000 for a BO type of standing order

Question: Bank processed Inward MT103 message with tag 71G for USD100 through STP Process which has created a FT. To which internal/customer/PL account this amount will be credited.

Answer: It will be credited to the PL Category as mentioned in IN.CHG.CODE field of FT.TXN.TYPE.CONDITION as applicable for the Inward Transaction.

Question: Bank want to apply a special rate for each FT that are generated through the STO, instead of picking the MID.REVAL.RATE from the Currency table. How to achieve the functionality in the T24

Answer: T24 doesn't support

Question: If bank wants to pay beneficiary customer only by cheque, then which criteria need to be satisfied in outgoing MT103 Swift message.

Answer: If bank wants to pay beneficiary customer only by cheque, then which criteria need to be satisfied in outgoing MT103 Swift message.

Question: What is the option to balance the contra entry based on currency, value date irrespective of sign in generic accounting interface

Answer: CCY.VAL.NET

Question: How are transaction code for contra entry determined?

Answer: How are transaction code for contra entry determined?

Question: T24 bank wants to honour the payment from an incoming payment message only when there is a preset allowed amount available for the sender bank. What is the table used to store the amount allowed for that correspondent?

Answer: ER.COVER.LIMIT where a record exist for the Sender