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Product Update 414: ACH Autopay credit instruction introduced for iFile bank format for HSBC China

The ACH Autopay credit instruction has been made available for the iFile bank format. This enhancement is applicable to the HSBC Bank, China, the Chinese cash instrument, and for both the domestic and foreign payments.

The ACH Autopay credit instruction can be selected at the Instruction field on the Type screen. The screen is accessible via the Cash flow à Payments à Process menu path.

By selecting ACH – Autopay Credit at the Instruction field, the Charges field and the CF Category field under the Cash flow section are disabled, and the Payment set code and the Payment date fields are enabled. At the Payment set code field, the payment set codes can be defined for the relevant payments. Each payment set code can only be used once a day. You can define the payment date for the payment file at the Payment date field.

By defining the above fields, the payment instruction type, the payment date, and the payment set code are reflected in the payment file as follows: