How to create a payment

Document ID: 20867
Modified: 11/04/2019
Access
  1. Select the Transactions tab.
  2. Select Payment from the left navigation menu.

Ordering account and account currency

In payment data, select the Originator Alias from the dropdown list. Alternatively you can also search based on the account holder, account number or the alias (how to configure an alias). Once selecting, the details of the ordering account will be displayed.

Account Currency : After selecting a multi-currency bank account, the correct account section can be selected here.

Beneficiary
Using a saved counterparty

You can search your beneficiary by typing the leading character of the alias, account number or name in the corresponding field. Once you have found your counterparty, verify if all required fields are filled in.

In case the counterparty has multiple account numbers, you will have to select it from the list.

TIP: You can modify your counterparty right from the payment wizard (modified fields will be shown in italic). You can choose to not update your beneficiary by unchecking the "Update this beneficiary" option.

Using a new counterparty

Encode the required fields based on the information your beneficiary has provided. Click on the more link to complete your beneficiaries address.

  • Alias: an easy to remember name of your counterparty. This will not be visible for your beneficiary.
  • Account country: the country of the beneficiary's bank account
  • Account number: the account number of your beneficiary. An IBAN is preferred for SEPA payment. For NON-SEPA payments you can choose to use another format by selecting "Edit account format".
    An IBAN must be in the IBAN registery and pass a validation check in order to be correct.
  • BIC: the bank identifier code or your counterparty.
    • The Clearing code, also known as the routing code, is used for making transactions to a non-IBAN account, or can also be used for bank formats that rely on local account numbers. In these cases, the use of clearing codes is still relevant. In Isabel they can be applied for the following countries: Austria (AT), Australia (AU), Canada (CA), Switzerland (CH), Germany (DE), Spain (ES), United Kingdom (UK), Guernsey (GG), Jersey (JE), Ireland (IE), Italy (IT), San Marino (SM) and the United States (US). In the payment wizard this code needs to be entered in the separate field right before or after the local account number. It will then be validated.

      Some other countries can also use a clearing code but these are not considered in specific sub fields in the Isabel payment wizard. This concerns the following countries: China (CN), Greece (GR), Hongkong (HK), India (IN), Japan (JP), New Zealand (NZ), Poland (PL), Portugal (PT), Russia (RU), Sweden (SE), Singapore (SG), Thailand (TH), Taiwan (TW) and South Africa (ZA). This means that the clearing code must be included in the same field as the local account number. It doesn't matter whether you put this in front or after the account number. Because of this, the bank will need to manually separate the clearing code and validate it. Please contact your bank for further specifics on this. 

      Isabel is however able to validate ALL of the aforementioned countries when an uload file with the Pain 001.001.03 format is used, and thus able to validate these upon upload!
  • Name and address: the name and address of your counterparty. This will be visible for your beneficiary.

Remark: when clicking on Finish or Next payment, your encoded values will be validated. The border of incorrect fields will be marked red and a message will inform you what is wrong.

TIP: you can specify the default currency for all new payments in Preferences > Transactions.

Using an own account

Select Own account in case you want to create a payment with an own account as beneficiary.

The list of own accounts is managed by your banks. In case one of your accounts is missing or incorrect, contact the concerned bank.

Beneficiary accounts without IBAN number
Currency transaction to the same account
Payment data

Amount and currency
  • Encode the amount you want transfer. For Euro, the amount is limited to 999.999.999,99. Other currencies may have different limits.
  • Choose the currency of your transfer. In case the currency is different from the currency of your ordering account, you can specify additonal exchange options.
    Some banks may have specific requirements for payments to multi-currency accounts. Please contact your bank for more information.

TIP: You can choose to save this amount by selecting Update this beneficiary, next check the option Save this amount and currency as default.

Exchange rate

When the transaction currency is different from the currency of the selected ordering account, an indicative exchange rate is shown.

 

If a fincancial institution offers an exchange rate for this currency pair through Isabel, you can consult the proposed rate by clicking the button Find the Best rates.

 

Click Add Service if you want to add a bank to your subscription.

If no quote can be retrieved from the bank, you will be informed about the reason:

  • Unable to retrieve the exchange rate. The currency pair is not supported.
    • This bank does not offer an exchange service for the requested currency pair.
  • Unable to retrieve the exchange rate. The minimum counter-value has not been reached.
    • The amount of the payment is too low to propose you an quote.
  • Unable to retrieve the exchange rate. The market is currently closed.
    • Outside the exchange market's business hours it is not possible to get a quote from this bank.
  • Unable to retrieve the exchange rate. The service is temporarily unavailable. Please try again later.
    • Due to a technical problem, it is not possible to request a quote at this moment.
Execution date

The execution date will automatically be set to today. Choose another execution date in case the payment must be executed in the future.

Message to beneficiary or structured communication

Encode a free text message or use a Belgian or European structured message (when encoding a transaction using only the keyboard, you can switch between these options using the arrow keys on your keyboard, then move into the actual message field by using the Tab-key).

TIP: You can choose to save this message by selecting Update this beneficiary, next check the option Save this message as default.

Customer reference (or end to end identifier)

Encode a customer reference or use the default assigned ID. This is used for tracking your payment in your accounting or ERP software. Both you and your beneficiary will be able to view this ID.

This is a mandatory field.

Additional payment data

Click on the bar Define additional payment data to show additional options regarding the execution of your payment.

  • Reason of payment: Define the reason of your payment (example Salary, tax, Treasury, ...).
  • Create a High priority payment: Choose to execute your payment with high priority. Please contact your bank for more information and possible additional costs.
    Watch the video
  • NON-SEPA fields: When you payment is classified as NON-SEPA, additional fields will become available while configuring the additional payment data.
    • Cost attribution: choose who must bear the costs of the payment.
      The options available for cost attribution vary depending on the type of payment:
      • SEPA-payment : there are no charges.
      • Non-SEPA-payment :
        For payments in EEA currencies between EEA banks
        • the option "all charges to beneficiary" is not allowed.
        • sharing charges is mandatory, when no currency conversion takes place.
    • Cost account: in case the cost attribution is set to "Shared charges" or "All charged to principal", a cost account must be provided. In case you choose a different account then the ordering account, make sure your bank supports this.
      Tip: You can specify a default cost account in Preferences > Transactions
    • Exchange options
      • Payment modality: Select between
        • pay the amount and currency as defined in payment data
        • transfer the countervalue of the defined amount and the ordering account's currency
      • Exchange method: leave this blank or select the option Exchange rate as per contract number, where you will have to specify the contract number.
    • Define Message to ordering party or beneficiary bank: Specify a message to ordering party bank or the beneficiary bank.
    • Define BIC of intermediary bank: Specify an intermediary bank BIC if you have agreed this with the receiver
Advanced processing options

Once the payment data is completed, you can choose to define advanced processing options. Click on Set advanced processing options to show processing options for your payment.

  • Share the transaction to all users in the same ebanking contract: Share the transaction to anyone in your Isabel subscription with access to the eBanking contract.
  • Send when sufficiently signed: When the transaction is sufficiently signed, Isabel will automatically send the transaction to your bank. This option is only available if you are subscribed to MultiSign.
    Only the person creating or uploading the transactions needs to subscribe to Multisign in order to use the function Send when sufficiently signed.

Invite potential signers

When inviting a potential signer, the invited user will receive a mail (only if the signer has configured an email address in the preferences > General) informing him a transaction is ready to be signed.

To be able to invite potential signers, you need to be subscribed to the module MultiSign. The signer does not have to be subscribed to MultiSign.

Troubleshooting
BIC or bank name required:

When you receive this error, you have to fill in a valid BIC or bank name. Please take the following steps:
 

  • Click on the Search button next to the BIC field



  • Choose one of the appropriate options you can fill in, the BIC or Bank name:

  • Click on OK and continue your transaction.
How to create a payment
20867
11/04/2019