Create an International payment

    1. From the Manage payments section page, select Create payment to display the Create payment screen.

       

       

       

      If you want to create a payment based on an existing payment, select Create from existing > Individual payment and enter the name of the International payment you want to use in the box on the right or click Search icon to search for and select the payment you want.

      If you want to create a payment based on an existing template, select Create from existing > Template and enter the name of the International payment template you want to use in the box on the right or click Search icon to search for and select the template you want.

      If you want to create a freeform payment select International payment from the drop down list in Payment type.

    2. Enter the following information in to the available fields:

      • Account number – Enter the sort code and account number of the account you want to make the payment from or click Search icon to search for and select the account.
      • Friendly name – The name of the account used to identify it in Commercial Banking Online. This field will be pre-populated when the account number is selected.
      • Beneficiary name – Enter the name of the beneficiary or Search icon to search for and select a beneficiary from the Beneficiary Library.
      • Beneficiary account type – Choose between ‘IBAN’ or ‘Other’. If you select IBAN then you will need to enter a valid IBAN in the Beneficiary Account Number field. An IBAN must be keyed in upper case and contain no spaces. The Beneficiary Bank Code Type, Beneficiary Bank Code and Beneficiary Bank Name will populate the correct field.

       

      Countries requiring an IBAN

      InternationalSWIFT  

       

       

      If you select 'Other', then you need to enter:

      • Beneficiary account number
      • Beneficiary bank code type Once you have provided this information the beneficiary bank code and beneficiary bank name will be automatically populate in the fields below

       

      Once you have provided this information the beneficiary bank code and beneficiary bank name will be automatically populate in the fields below.


      • Beneficiary account number – Enter the beneficiary’s account number. This information will have been automatically added if you have chosen a beneficiary from the Beneficiary Library.
      • Beneficiary bank code – Enter the sort code of the beneficiary’s bank or Search icon to search for and select the beneficiary’s bank sort code. This information will have been automatically added if you have chosen a beneficiary from the Beneficiary Library or if you have input an IBAN into the account number field.
      • Beneficiary bank name – The beneficiary bank should automatically populate when you chose the beneficiary bank code.
      • Credit currency – Select the currency in which you wish to make the payment.

       

       

       

       

    3. In the Debit account information section:

      • Account number - Enter the sort code and account number of the account you want to make the payment form or click Search icon to search and select the account
      • Debit account reference - Currently not available.
      • Account name – The name of the registered account. This field will be pre-populated once you select the account number.
      • Friendly name – The name of the account used to identify it in Commercial Banking Online. This field will be pre-populated when the account number is selected.

      F&S iconFor your security, please check the beneficiary account details for each payment, even if you are using an existing payment or template.

       

    4. Click Continue

      Please note that once you have clicked Continue, you will not be able to amend any of the details above. 

    5. Using the information from the previous page most of the payment information will have automatically populated in the payment details. If any of the information is wrong Reset the form and re-enter your payment details. 

    6. In the Debit account information details of the account that you are taking the payment from will be displayed. If required you can enter a Debit account reference to identify this payment in your statement. 

    7. In the Beneficiary information section the screen is split in to four parts, the two boxes on the left contain information about the beneficiary and the two boxes on the right contain information about the beneficiaries' bank. If required you can amend the Beneficiary name and the Beneficiary address.

      If you have access to the Beneficiary Library, you can save the details of any new beneficiary you add to the payment or save changes you've made to existing beneficiaries using the Beneficiary Library section. Any changes to a beneficiary record or new entries to the Beneficiary Library will need to be approved before you can submit the payment.


      • Do not update beneficiary record - Select this option so that existing beneficiary details are not updated, or that new beneficiary details are not added to the Beneficiary Library. This is the default option

       

      • Add beneficiary record - Select this option to add the beneficiary details as a new record in the Beneficiary Library. After selecting click Update Beneficiary Library.



      • Update beneficiary record - Select this option to save any changes to an existing beneficiary record in the Beneficiary Library. After selecting click Update Beneficiary Library. 8. The layout of the Payment details section will depend on whether the Debit or Credit accounts are in the same currency:

       

      F&S iconFor your security, we recommend that any changes to the beneficiary record is required to have a separate approval by another user.

       

    8. The layout of the Payment details section will depend on whether the Debit or Credit accounts are in the same currency: 

      If Debit and Credit accounts are the same currency:

       

      IAT payment  

      • Credit amount – enter the amount you want to transfer from the debit account to the credit account.
      • Currency code – the currency of the account, this will automatically populate with currency of your accounts.
      • Value date – the date the money will arrive in the credit account.
      • Transaction date – the date the payment will be made, this will automatically populate when you select a value date.



      Please note the earliest valid value date will populate depending on the currency selected and the receiving country’s bank holidays.


      Charges – Select how the transfer charges are to be applied:

      • SHA: Shared between parties The LBG charge will be invoiced as per your agreed tariff, but won’t be on the debit advice
      • OUR: Sender pays charges The LBG charge will be invoiced as per your agreed tariff, but won’t be on the debit advice. If there are Agency charges taken by the beneficiary bank, these will either be taken at payment execution, as a separate debit (and will show in the debt advice) or may be taken later in the event of a claim.
      • BEN: Beneficiary pays charges The charge is taken as part of the payment execution and reduces the principle sum sent to the beneficiary by the LBG charge. The charge taken will be displayed on the debit advice.


      Please note the applicable charging options will vary depending on the currency and country selected.

       

      Currency Codes and Payment Cut off Times for International Payments

      Charging Options


      If Debit and Credit accounts are different currencies:

       

       

       

      Please note Credit is the current available option.


      • Credit amount – enter the amount you want to transfer in the currency of the credit account. This will be indicated in the Currency code box.
      • Value date – the date the money will arrive in the credit account. Click Calendar icon to select the date you want the transaction to take place.
      • Transaction date – the date the payment will be made, this will automatically populate when you select a value date



      Charging Rules are as follows:

      • SHA Only: If the payment is in an EEA currency and to an EEA country then, if the currency of the account being debited is the same as the currency being remitted then the only valid charging option is SHA.
      • OUR / SHA: If the payment is in an EEA currency and to an EEA country then, if the currency of the account being debited is different from the currency being remitted then the only valid charging options are OUR or SHA. The exception to this rule is for a SEPA Credit Transfer where the only valid charging option is SHA.
      • OUR / BEN / SHA: If the payment is in a non EEA currency to the EEA, in an EEA currency to a non EEA country, or OUR / BEN / SHA: If the payment is in a non EEA currency to the EEA, in an EEA currency to a non EEA country, or in a non EEA currency to a non EEA country then the charging options are valid namely OUR,BEN or SHA


      Please note the applicable charging options will vary depending on the currency and country selected.

      Get FX Rate and Complete FX Trade

      I want to create a payment alert

       

    9. Foreign Exchange Rates - Any International payment that requires a conversion between currencies must have a rate of exchange applied before it can be submitted to the bank. You must be attached to a Role that has Get Rate enabled to carry out this action.


      FX Contract ID Field - If you have a pre-booked FX deal the FX reference number is provided here along with the rate in the associated field. This must be correctly formatted with either B used with spot deal e.g. 2 day value, or F, future expiry date, followed by 8 digits. If a pre-booked rate is not being used an FX rate must be obtained once the payment has been fully approved before it can be submitted to the bank.


      If a pre-booked rate is not being used, an FX rate must be obtained once the payment has been fully approved before it can be submitted to the bank. Once the payment has been fully approved a link titled Get Rate will be available from the pop up confirmation window, follow the link.


      • Once the payment has been fully approved a link titled Get Rate will be available from the pop up confirmation window, follow the link. Or alternatively, payments requiring rates can be found within the Needs Rate Payments view within the Payment management screen.
      • Or alternatively, payments requiring rates can be found within the Needs Rate Payments view within the Payment management screen.
      • You can also be notified whenever payments require an FX rate by configuring the Payments option within the Notifications bar, any payment requiring an FX rate can be accessed from the FX option within the Payments section.

      Future dated payments - If you have future dated a payment that requires a rate of exchange, the rate of exchange can only be obtained on the Transaction Date. This is viewed within the Payment Details section underneath the Value Date field and is dependent on the number of lead days for a currency. The payment must be submitted by the cut off time which is displayed within the Cutoff Time column within Payment Management.

      Example One

      Barbados Dollar (BBD) has a two day lead time and if a payment was instructed on a Wednesday it would reach the beneficiary bank on the Friday

      As it has a two day lead time, it needs to have the rate applied two days in advance which would be the Wednesday, this date is displayed within the Payment Details section on Commercial Banking Online as the Transaction Date and you will need to apply the rate by clicking Get Rate prior to the cutoff time on the Transaction Date, seen below:

       

       

      Example Two

      United States Dollar (USD) has a zero lead period so if a payment was instructed on a Wednesday to be future dated for the Friday; the rate can only be applied on the Friday and must be done so by the cutoff time on the Friday.

       

       

      The future dated payment will be displayed in the Payment Management screen and on the Transaction date it will also be displayed within the Needs Rate Payments view within Payment Management and an alert will be displayed in your Notifications bar which if selected will take you to the Needs Rate Payments screen, alternatively you can go directly to the Payment Management screen and select the Needs Rate Payments option from the View drop-down box. Payment cutoff times are displayed within Payment Management within the Cutoff Time column.

    10. If required you can add more information in the Additional information section.

      International Additional Info 2

       

    11. Intermediary bank - Intermediary bank information is used to route funds between the executing bank and the beneficiary bank when no direct relationship is established. You can fill in the details of up to two intermediary banks if you required.

      • Code type: this is already determined from the Beneficiary information.
      • Bank Code: Enter the sort code or BIC of the intermediary bank or click Search icon to search for and select the intermediary bank sort code.
      • Bank name: The intermediary bank should automatically populate when you chose the bank code.
      • Intermediary address: The intermediary bank address should automatically populate when you chose the bank code.


      Instructions

      • Reason for Payment – To be used when making payments for specific countries. This field will only appear when the country you are making a payment to requires it. For specific rules please refer to Country Specific Requirements

       

      • Beneficiary reference – Enter the reference that will appear in the beneficiary’s statement.

      International Reason for Payment  

       

      Originator

      This contains your account information which will be automatically added when you choose your account in the Debit account information section. The address fields will populate with the registered details for the account number being used.

       

      F&S iconFor your security, we recommend that you check the beneficiary details are correct before submitting the Payment.

    12. When you are ready, submit the payment for approval. Once the payment has been submitted the following ID's will be generated:

      • Client Payment ID - this is an internal payment ID for your own reference.
      • Bank Payment ID - this ID will be required by the helpdesk to assist with any queries relating to the payment.

      If you are not ready to submit the payment yet, save the payment as a draft.

      If you want to remove all the details you have entered and start the payment again, click Reset or click Cancel to return to the Payment management screen.

      Please note that for all Cross Currency payments there is an additional step required before the payment is completed. Once submitted, select ‘Get FX’ rate to complete the payment. Please see the link below for more information.

      Completing a Cross Currency International Payment.

       

      International Approval Screen

      International Complete payment/Get FX rate 2

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