SEPA ACH Credit Transfers

Selected London and Luxembourg clients can expect to see the following changes to statements, reporting and processing on their migrated accounts payment processing on payments initiated via JPM Access.

• Transaction Reference Number – Changing from 10 alphanumeric characters to 12 alphanumeric characters.
• Enhanced Statement Narrative – Purpose Code or Instrument Code will be included if provided on instruction.
• Stale Dated Processing – Any payments initiated with a value date greater than 365 days in the past will be rejected rather than automatically revalued.
• Rollover Processing - Transactions that do not complete on their original value date are rolled over to the next available value date.
  • Current rollover processing – For every transaction that does not complete on the original value date the client account is re-credited and then re-debited every day the transaction is rolled over.
  • Enhanced rollover processing – For every transaction that does not complete on the original value date the client account is re-credited (with original value date) and then re-debited (with achieved value date) on the day the transaction completes.  If the transaction cannot be completed the client account is re-credited back individually.

The following will remain on our existing back office payment processing platform processing until a later phase of the project.  

• Other SEPA ACH transaction types (e.g. Credit Transfer Receipts and Direct Debits).
• Accounts held on other branches.
• Other payment initiation channels (e.g. Host to Host File Transfer and scheduled payments).

Selected Frankfurt clients can expect to see the following changes to statements and reporting on receipts credited into their migrated accounts:

• Transaction Reference Number – Changing from 10 alphanumeric characters to 12 alphanumeric characters.
• Enhanced Statement Narrative
  • Purpose Code or Instrument Code will be included if provided on instruction
  • A return of funds initiated by a recall request from the payer
  • A return of funds initiated by you (the “payee”)

The following will remain on our existing back office payment processing platform processing until a later Phase of the project.

• Other SEPA ACH transaction types (e.g. Credit Transfer Payments and Direct Debits).
• Accounts held on other branches.