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Creating Wire Payments from Templates

1. From the Payments menu, select Wire Payments then click on From Templates to access the Wire Payments from Templates page.

2. To select the template you would like to use to create your payment:

a) Search for a template by  entering all or part of the Template ID or Beneficiary Name or selecting a Debit Account and clicking on the Search button.  The results will be displayed on the lower half of the page.
b) By clicking on the appropriate column heading, you can sort the list of templates by Template ID, Template Description, Beneficiary, Debit Account or Pre-Approved Amount.
c) To select a template, click on the Template ID.  The Create Wire Payment
page will appear displaying the details of the selected template.

3. The following fields can be altered when creating a payment using a template:

Value Date

The Value Date, which is the day the beneficiary should receive value for the payment, defaults to the current date.  Using the   button you can change the Value Date. 
Wire payment instructions can be sent to the Bank up to 30 days in advance.  Scotiabank will warehouse each payment and process on the appropriate execution date.
Note:  The Execution Date, which is the day the Bank will act on your wire payment instructions, will automatically be calculated based on the Value Date that is entered, the payment amount and the payment destination (i.e. the location of the Beneficiary Bank) and will be displayed for your information on the 'Create Wire Payment Confirmation' page when the payment is saved. 

Amount

A payment amount must be entered.
Note:  If an amount was entered when the template was originally set up, the amount cannot be modified when a wire payment is created using the template.

Rate Information – For Cross Currency Payments

Indicate how the foreign exchange rate information will be provided:

a) Get Automated Rate
This option is only available for payments that are under the bulletin limit.  If this option is selected, the system will automatically provide a system generated foreign exchange rate.  The foreign exchange rate that will be applied to your payment will be displayed on the FX Rate Confirmation page when the payment is saved.  To view the Automated Rate (bulletin) limits, click on the Rates Inquiry link next to the Get Automated Rate radio button.

b) Enter a Pre-booked Rate
This option must be selected for payments that exceed the bulletin limit.
Note:  The bulletin limit is the maximum value for which the Bank will automatically provide a foreign currency rate.  For any transaction above the bulletin limit a rate must be booked
Note:  The 'Enter Pre-booked Rate' option must be selected for all payments from accounts that are domiciled in the USA.
Note:  If you are set up to have the Bank book foreign exchange rates on your behalf, you will not have the option to indicate how the rate information will be provided.  The 'Get Automated Rate' and 'Enter a Pre-booked Rate'
options will not be displayed.

Information to Beneficiary

This optional field is used to enter transaction details intended for the beneficiary customer.  You may enter up to 4 lines of 35 characters.

Note: This information is passed along with the payment to the beneficiary. It should not be used to communicate special processing instructions to the Bank.

Internal Memo

This field is for your internal use only.  Information that is entered will not be sent with the payment, but will be displayed on transaction reports and included when you download your wire payment transactions.  You may enter up to 140 characters.

4. When you have finished entering the required information, click on the Save   button at the top of the page
If your payment is a cross currency payment:

a) The FX Rate Confirmation page will be displayed with the currency/foreign exchange rate that will be applied to your payment.
b) Click on the Accept button within 30 seconds to accept the foreign exchange rate and continue saving your payment or click on Cancel to return to the Create Wire Payment page without saving your payment.

If all required information was entered correctly and any applicable foreign exchange rate has been accepted, the Create Wire Payment Confirmation page will be displayed with the following message at the top of the page:   Creation Successful'

5. If you want to enter additional payments from templates, press the Continue   button to return to the Wire Payments from Templates page.  Repeat steps 2 to 5 to enter additional payments.
OR

Press the Done   button if you do not want to enter additional payments.  You will be directed to the Pending Wire Payments page.

6. Check the status of the payments on the Pending Wire Payments page:

  • Payments in 'Entered' status must be approved by at least one authorized user before they can be submitted to the Bank.
  • Payments in 'Ready' status are ready to be submitted to the Bank.

Priority Handling

If the requested Value Date for a payment cannot be met based on our standard cut-off times, the system will display an error message. 

If you subscribe to the 'Priority Handling' function, you have the option to flag your time sensitive payments for priority handling.

If you flag a payment for priority handling, you can request a value date that is earlier than our standard cut off times will allow.  The payment will receive priority handling and, on a best efforts basis, the beneficiary will receive the payment on the requested value date.
Note:  Only same currency payments can be flagged for priority handling.

For information on how to subscribe to this function and the associated fees, please contact your Relationship Manager.

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