Initializing a Foreign Exchange

This type of payment does not require any authorization, it is an exception from the Strong Customer Authentication Strong customer authentication (SCA) is a requirement of EU Revised Directive on Payment Services (PSD2) on payment service providers within European Economic Area. The requirement ensures that electronic payments are performed with multi-factor authentication, to increase the security of electronic payments.[1] Physical card transactions already commonly have what could be termed strong customer authentication in EU (Chip and PIN), but this has not generally been true for Internet transactions across EU prior to the implementation of the requirement,[1] and many contactless card payments do not use a second authentication factor..

Open the Make a Payment page. The title is dynamic, depending on the amount value, and it changes to display the payment schema type. In this case, the title becomes Foreign Exchange.

Fill in the following fields for a new payment:

Fields	Type	Required	Description
FROM	Lookup	Mandatory	Select the current account from where to send the funds by clicking on the drop-down arrow. HINT The accounts displayed are the accounts for which the user has at least the right for Account Balance & Details. This field is automatically pre-filled with the account number only when the payment was initiated from the Account details page.
Available Balance	Numeric	N/A	This field is displayed once the FROM account has been chosen. It displays the amount available for the specifically chosen bank account.
TO	Lookup	Mandatory	It displays the accounts which have a different currency than the FROM account. Select the account where the exchanged amount is going to be wired to. Once this field is populated with the value, the name of the bank and the beneficiary name are populated by the system automatically.
Or add new recipient
Beneficiary	Text	Mandatory	This field is automatically filled in by the system when the TO field is selected. It is read-only.
Beneficiary Bank	Text	N/A	This field is automatically filled in by the system when the TO field is selected. It is read-only.
Amount	Numeric	Mandatory	Insert the amount you wish to exchange.
Currency	Lookup	Mandatory	The currency of the amount being transferred.
Execution Date	Date	Mandatory	Schedule the payment by selecting a date. From the calendar only the first date available is the current day, followed by the day after and so on up until 90 days, see Processor Settings for details.
Total Amount paid in FROM account currency, including the commissions	Numeric	N/A	The total debited amount is calculated based on the equivalent amount in payer account currency + Fee and displayed in the same area.
Commission	Numeric	N/A	The fee charged for the transaction.
FX Rate	Numeric	N/A	It displays the rates for forex.
Save as Payment Template	Boolean	N/A	By ticking this field, the payment is saved and two new fields are displayed: Payment Template Name and Visible?.
Payment Template Name	Text	Mandatory only if the field Save as Payment Template was ticked.	Insert the name of the payment template.
Visible?	Boolean	N/A	This checkbox marks for the template to be visible to the other users from the business unit. This field has the value true by default. Un-tick it to hide the template.
Save Contact Details	Boolean	N/A	By ticking this field, the beneficiary is saved and two new fields are displayed Beneficiary Template Name and Visible?.
Beneficiary Template Name	Text	Mandatory only if the field Save Contact Details was ticked.	Insert the name of the beneficiary template.
Visible?	Boolean	N/A	This checkbox marks for the template to be visible to the other users from the business unit. This field has the value true by default. Un-tick it to hide the template.

The payment has the status Draft. For details, see Business Workflows Processor.

Click Review Payment. By clicking that button, if applicable, the payment template and the beneficiary template are saved. The page Review Payment Detail is displayed. It contains the read-only data: Payment amount, Total amount paid including commissions, Execution date, Beneficiary account, Beneficiary bank name, Account, Currency, Payment reason, Payment type, Beneficiary name, Payer account. To proceed, click Confirm. To cancel, click Back.
NOTE
If the user who initiated the payment has authorization rights as well, they are able to sign through Strong Customer Authentication.
To sign the payment, an email was sent with a code. To verify the identity of the user, the code must be inserted in the Online and Mobile Banking page. The email address is taken from the database. To verify, click Accept.

If the code was not sent, click Click here to resend PIN.

If the code inserted was wrong, then the user is redirected to the previous screen, where they must click Send to reinitiate the signature process.

NOTE
For details on how the OTP was configured, see Operation Authorization.
On the confirmation page, the message Your payment has been registered successfully. is displayed. Click Home to return to the Homepage. The payment Id is in the status Authorized.