Standing Instruction Form Fields
Standing Instruction Form Fields
Field name (attribute) | Description | Example | Validations (if applicable) |
Name | The name for the standing instruction | Required field | |
Applicant | The name of the client for whom the standing instruction is being created. This field is automatically populated and cannot be modified. | Will display the client name. | |
Type | The type of Loan Repayment or some other type available in the Type list. | Loan Repayment | Required field Select from list |
Priority | The priority determines the sequence in which multiple standing instructions for the same account will be carried out. | Medium Priority | Required field Select from list |
Status | Typically, when a standing instruction is being created, the status will be Active. The standing instruction may be turned off by changing the status to Disabled. | Active | Require field Select from list |
From Account Type | The account type for the account the funds will originate from. | Saving Account | Required field Select from list |
From Account | The account name - number from which the funds will originate. | Saving - 001010233 | Required field Select from list |
Destination | The destination can either be the same client who holds the originating account (own account) or another client within the financial institution (with in Bank). | own account | Required field Select from list |
To office | The office where the destination account is located. Will be filled in by the system if Destination is own account. Required if Destination is with in Bank. | Branch 02 | Required field Select from list (if not filled in) |
To Client | The client who holds the destination account. Will be filled in by the system if Destination is own account. Required if Destination is with in Bank. | Required field Select from list (if not filled in) | |
To Account Type | The account type for the destination account. The account type list will display only valid account types. | Loan Account | Required field Select from list |
To Account | The destination account name, number. The account list will display accounts held by the selected client, that match the account type selected and are in the same currency as the originating account. | Agri Loan - 001010877 | Required field Select from list |
Standing Instruction Type | The Standing Instruction Type sets the payment amount as either a Fixed amount per transfer or if a Loan Repayment, the amount due (Dues) on the transfer date. | Fixed | Required field Select from list |
Amount | The amount field must be filled in if the Standing Instruction Type is Fixed. It must be blank if the Standing Instruction Type is Dues. It specifies the fixed amount that is to be transferred when the standing instruction is invoked. If the standing instruction type is Dues, the amount to be transferred is the scheduled loan repayment amount. | 50 | Required if Standing Instruction Type is Fixed Numeric |
Validity From To | Provide a start (from) date for the standing instruction to be valid. Optionally, provide an end (To) date for the standing instruction to expire. | 01 June 2013 01 June 2015 | From date required To date optional |
Recurrence Type | To tie the funds transfer recurrence to a loan account repayment schedule select As per dues recurrence. To establish an independent schedule for a funds transfer, select Periodic recurrence. If Periodic recurrence is the recurrence type, specific the recurrence period by completing:
or
| As per dues recurrence | Required type |
Interval | The value in the interval field is numeric and is used with the value in the recurrence frequency field to set the schedule for funds transfers. | 2 | Used for Periodic recurrence |
Recurrence frequency | The value options for the recurrence frequency field are:
It is used with the value in the interval field to set the schedule for funds transfers. For example, if the interval is 2 and the recurrence frequency is Weeks, the standing instruction will be carried out every 2 weeks (alternative way to say this is "every other week"...not sure which is better for the audience). | weeks | Used for Periodic recurrence |
On Month Day | As an alternative to Interval and Recurrence Frequency for monthly transfers, the day of the month may be specified. For example, if the value of On Month Day is 15, the standing instruction will be carried out on the 15th of every month which is when the standing instruction is in effect. | 15 | Used for Periodic recurrence |
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