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:
  • Interval and Recurrence Frequency
or
  • On Month Day
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:
  • Days
  • Weeks
  • Months
  • Years
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
Last modified 2yr ago
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