Multicurrency
What type of wire payment would you show if the remitting customer instructs JPM London to pay GBP to a beneficiary account held with a bank in United Kingdom?
Domestic Payment
Will an Interac payment for 30,000.00 process?
No because 30,000.00 is over the limit for Interac transactions.
What is CHAPS?
The UK based electronic transfer system used for sending and receiving same day value transfer in GBP.
This clearing is operated in partnership with the Bank of England (JPM London is a member of this clearing)
What field tag shows the currency, amount, and date of the wire?
32
What is the status code for a complete wire?
009
If the remitting customer instructs JPM London to pay USD to a beneficiary account held with a US bank, what type of wire payment would this be?
CPOD (Cable Payment Order Direct)
What is the payment type if a chase client is receiving a direct debit?
RDDT
What is the correspondent SWIFT BIC for NOK currency?
NDEANOKK
Is field tag 56 needed for the wire to process?
No, this field tag is for intermediary banks and not every wire transaction requires an intermediary bank.
What is the currency code for Macedonian Denar?
672
What wire payment type requires an MT202/MT202COV?
CPOR (Cable Payment Order with Reimbursement)
What is a Mandate?
Authorization given by the debtor to the creditor to collect from a specific debtor account.
What correspondent bank does the sort code 609242 belong to?
JPMORGAN CHAASE BANK N.A. LONDON BRANCH
What is the field tag for the beneficiary in an MT202?
58
Which NA-ACH tab will let us see the list of return codes?
Maintenance tab in NA-ACH Platform.
If the client is sending money, what entry will show in the ledger and statement?
Ledger Credit, Statement Debit
What is the clearing channel for real time payments in Mexico?
SPEI
What is the SWIFT BIC needed for a Global ACH to be sent in PLN currency?
CHASGB2L
What field tag would you locate to find out information on fees associated with the wire?
71
What is the key difference between an FX wire and a CPOR?
FX wires involves currency conversion whiles CPOR does not.
If the client were to receive money, what entry will show in the ledger and statement?
Ledger debit, Statement Credit
What are the two payment types for real time payments for Global ACHs via Graphite system?
IRCT & RRCT
What is the single shared platform for real time gross settlement in EURO clearing?
Target2
What is the difference between MT103 and MT202?
What are VSA accounts and what are they used for?
VSAs (Virtual Summary Account) are non-transactional accounts. They are used to show total balances calculated for the VTAs (Virtual Transaction Account) accounts under their umbrella.