Italian Ri.Ba

What’s Happening?

As part of our multi-year initiative, we transitioned processing of Italian Ri.Ba to our to our strategic payments platform.

You Should Know

While there’s no change to the core processing, this resulted in the following changes:

  • J.P. Morgan Transaction Reference Number: Changing from 8 or 10 to 12 characters on your balance and transaction reports and your statements (Bank References).
  • Stale Dated Transactions: Transactions dated more than 30 business days in the past will be rejected. Previously this was only more than 5 business days.
  • Future Dated Transactions:  Future dated transactions will be supported with a date up to 365 calendar days. Previously this was only up to 180 calendar days.
  • Value Date: Ri.Ba collections Value date now standardized to Expiry Date + 1 (Expiry Date is also known as Requested Collection Date).

Questions?

Please contact your service representative.