Our Global Payments Strategy 

Multi-Currency ACH

As part of our GPS program, we transitioned processing of the Multi-Currency Automated Clearing House (MC-ACH) products to our strategic payments platform. The MC-ACH product supports ACH payments and receipts in the following currencies:

• Hungarian Forint (HUF)
• Czech Koruna (CZK)
• Norwegian Krone (NOK)
• Danish Krone (DKK)
• Swedish Krona (SEK)
• Polish Zloty (PLN)

This resulted in the following changes:

• J.P. Morgan Transaction Reference Number
  The length and format of the J.P. Morgan transaction reference number changed to 12 alphanumeric characters for the following report types:
  • balance and transaction reports
  • statements
  • reject reports

• Cut-Off Times
  Your payment submission cut-off times remain unchanged. J.P. Morgan may process any payments submitted after the published cut-off with good value (D) instead of revaluing them to D+1 on a best-effort basis. In such cases, your J.P. Morgan account is debited on D instead of D+1. There is no action you need to take. Please continue to submit files based on existing cut-off times. Should you have any questions or require assistance, please contact your Client Service Account Manager or the Solution Center.

• Billing Codes
  The following MC-ACH specific service codes were introduced for CZK and HUF ACH receipts:

  Currency	Service Code	Service Code Description
  CZK	5305	ACH Receipts — CZ
  HUF	5306	ACH Receipts — HU

• Structured Remittance
  Superfluous delimiters will be removed and the data fields delimited by "/".

• Reporting
  • BAI Codes: Updates are being made to the below BAI codes and transaction descriptions:

• Client batch reference: A client batch reference is now included in the balance and transaction report, if provided. This replaced the system-generated File Reference starting with IO (Regular Payments) or IR (Rejects).
  • Reject and Return Reporting
    • The introduction of enhanced transaction validation means some payment rejects could be visible to you earlier. These could be seen within your reject reporting on the processing date, instead of after the transaction value date.
    • The accounting entries remain the same. On value date, the client is debited for the batch amount, with rejects credited back same day.
    • Return and reject reporting is now consistent with other ACH EMEA clearings. Examples include the following:

Questions?

Please contact your service representative.