9 Wire Transfer
9.3 Profile Maintenance
9.3.3 Create an FX international profile
Important: These steps are for creating a profile to wire funds in foreign currency to a foreign bank. Profiles using other payment methods have different steps—
even though they appear similar. For steps to create a domestic profile, see pg.
12; for steps to create a USD international profile, see pg. 25.
1. In the Wire Transfer service module, click the Profile Maintenance tab. The Profile Maintenance page opens (Figure 2).
2. Click the Create New Profile icon . The Select Profile Type page opens:
Figure 25. Wire Transfer: Select Profile Type page (default view)
3. Profile Name. (required, alphanumeric, max. 15 characters) Enter a unique name for the profile.
4. Description. (optional, alphanumeric, max. 50 characters) If desired, enter a brief description of the profile’s purpose for other users.
5. Financial Institution. (inactive) Auto-fills with Umpqua Bank, the only option.
6. Profile Type. From the drop-down menu, choose the desired type: non-repetitive, repetitive or semi-repetitive.
Note 1: Although the menu contains standing order, that type is not available for FX international wires, since exchange rates continually change.
Note 2: Screenshots in this topic show a repetitive profile—except the Assignable Accounts tab, which is unique to non-repetitive.
7. Payment Method. From the drop-down menu, choose the payment method to use for this FX international profile: FX Intl.
8. Cutoff Time. (inactive) The daily cutoff time for sending wire transfers is 2 pm (14:00 PT).
9. Click Next. The Add Profiles for [Company Name] page opens.
If you’re creating a non-repetitive profile, skip to Step 42 (there are only two tabs:
Permissions and Approval Structure, and Assignable Accounts).
If you’re creating a repetitive or semi-repetitive profile, continue with the next step.
SENDER/RECEIVER TAB
(For an FX international profile, this tab is active for repetitive and semi-repetitive. The tab is absent for non-repetitive.)
Figure 26. FX international – Wire Transfer: Add Profiles for [X] page, Sender/Receiver tab
10. Sending Account Number. (required) From the drop-down menu, choose the desired account.
11. Currency Code. (inactive) When an account is selected, this field auto-fills with USD.
12. Sender Name and Address. (inactive) These fields auto-fill with your company information.
13. Amount. (required, numeric, max. 15 characters plus 0 to 3 after the decimal point per the foreign currency) If the transfer amount will remain constant, enter it now;
otherwise, enter 0 (zero). For all profile types, the amount can be updated when creating a transfer.
14. Amount currency. For an FX international profile, this field auto-fills with USD when you select the sending account. From the drop-down menu, select the desired currency for wire transfers based on this profile.
If you select a currency, such as Japanese yen, with other than 2 decimal places, an alert pop-up displays and the value in the Amount field adjusts automatically. Click OK to close the pop-up box. (For a table of codes and decimal formats for all supported currencies, see Appendix 9-A. Supported Foreign Currencies, on pg.
125.)
For repetitive wires, the amount currency cannot be changed when creating a transfer. If you inadvertently save a repetitive FX international profile with USD selected, you must modify it before it can be used. (For steps to modify, see 9.3.6 Modify a wire transfer profile, on pg. 55.)
For semi-repetitive profiles, the amount currency can be changed when creating a transfer.
15. Reference Text. (optional, alphanumeric, max. 35 characters) If desired, enter a note about the nature of the profile. The beneficiary will not see this information; it is for your reference only. This note can be edited when creating a transfer. The
following special characters cannot be used: accent mark (`), exclamation point (!), at sign (@), pound sign (#), dollar sign ($), percent sign (%), ampersand (&),
underscore (_), equals sign (=), pipe (|) and semicolon (;).
16. Value Date and Process Date. These fields are inactive; the date is selected when a transfer is created.
17. Beneficiary Name. (alphanumeric, max. 35 characters) Enter the wire recipient’s name.
For repetitive profiles, beneficiary information is required.
For semi-repetitive wires, beneficiary information is optional. It can be entered or edited in the transfer.
18. Beneficiary Account Number. (required, alphanumeric, max. 34 characters) Enter the beneficiary’s account number.
19. Beneficiary Address. (alphanumeric, max. 35 characters each line) For an FX international profile, it’s strongly recommended that you enter the beneficiary’s street address, city and country. For semi-repetitive wires, this field can be filled or
changed when creating a transfer; for repetitive wires, it cannot.
20. Beneficiary FI ID Type. (inactive) For FX international profiles, this field auto-fills with BIC/SWIFT.
21. FI ID. (required, alphanumeric, max. 11 characters) If you know the BIC/SWIFT code for the beneficiary’s bank, enter it in this field, then click the Select FI button to auto-fill the FI Name and Address fields.
Tip: If an error message alerts you there are no matching financial institutions, verify the following:
You selected the correct payment method.
You typed the FI ID correctly.
You have the correct FI ID. You may need to contact the beneficiary to confirm.
Note: A BIC/SWIFT code can be 8 or 11 characters long, and can be composed of letters and numbers or letters only. A code such as ROYCCAT2, for example, can be interpreted like so:
The first 4 letters indicate the bank; ROYC = Royal Bank of Canada.
The next 2 letters indicate the country; CA = Canada.
The next 2 characters indicate the location; T2 = Toronto.
If used, the last 3 characters indicate the branch.
If the first 8 characters of the BIC/SWIFT are correct, the receiving bank can route the transfer to the appropriate branch. However, without a branch code, if the bank is a large global institution the routing process could slow delivery of the funds. Whenever possible, the beneficiary should provide you with the exact code for their bank.
22. If the FI Name and Address fields fill with the correct information, skip to Step 25. If not, or if the beneficiary provided you with their bank’s name but not its BIC/SWIFT code, you can use the Select FI button to find the code: continue with the next step.
Warning: Using an incorrect BIC/SWIFT code may delay delivery of the payment. It is always best to get the code from the beneficiary.
23. To use the Select FI button to find the FI ID, click the Select FI button.
If there’s only one result, the FI ID, FI Name and Address fields auto-fill with the information. If it is correct, skip to Step 25.
If there are multiple results, the Select Financial Institution window displays a list:
Figure 27. Select Financial Institution window (showing search results)
Double-click on a row to enter that information into the profile. (Alternatively, click to highlight the row and click the OK button.) You’re returned to the Add Profile page.
If the results are too numerous to display, the Select Financial Institution window opens with an error message in the upper right corner:
Figure 28. Select Financial Institution window (showing error message)
You’ll need to set filters to narrow the results. Click the Environment Settings icon . The Environment Settings tool opens with the Filter Settings tab selected.
Select a qualifier, such as City, and click the “…” button at the right end of that row. (For more about the Environment Settings tool, see the TreasuryPro User Guide Chapter 1: Using TreasuryPro.) The Select Filter Values dialog box opens for you to enter the city name.
24. FI Name and Address. (required) When you enter the financial institution ID, or select it from search results, these fields auto-fill. If the information is incorrect, to search again: clear the FI ID, FI Name and Address fields; click the Select FI button;
and repeat the steps above.
Click the Environment Settings icon to add filters.
25. Beneficiary Party Identifier. (optional, but required if a code is entered in Step 26) If you need to enter a national clearing house system code for the beneficiary, select the relevant identifier from the drop-down menu. For semi-repetitive wires, this field can be filled or changed in the payment; for repetitive wires, it cannot.
26. Beneficiary Code. (optional, but required if an ID is selected in Step 25;
alphanumeric, max. 34 characters) If you selected an identifier in Step 25, enter the code. For semi-repetitive wires, this field can be filled or changed in the payment; for repetitive wires, it cannot.
27. Additional Information. (optional, alphanumeric, max. 140 characters) This field can be used for notes to the beneficiary about the wire, such as an invoice number, instructions upon receipt or “FFC” (For Further Credit) details. Generally, this field is left blank in the profile and filled out, if desired, when a transfer is created (all wire types). The following special characters cannot be used: accent mark (`),
exclamation point (!), at sign (@), pound sign (#), dollar sign ($), percent sign (%), ampersand (&), underscore (_), equals sign (=), pipe (|) and semicolon (;).
28. Click the Other Parties tab and continue with the next step.
OTHER PARTIES TAB
(For FX international profiles, this tab is active for repetitive and semi-repetitive. The tab is absent for non-repetitive.)
Figure 29. FX international – Wire Transfer: Add Profiles for [X] page, Other Parties tab
29. Sending Bank ID, Name and Address. (inactive) These fields are auto-filled.
30. Beneficiary Bank ID Type, ID, Name and Address. (inactive) These fields are auto-filled with any beneficiary information you entered on the Sender/Receiver tab.
31. Beneficiary Party Identifier and Code. (inactive) These fields are auto-filled with the ID and code (if any) you entered on the Sender/Receiver tab.
32. Correspondent FI ID Type. (inactive) For FX international profiles, this field auto-fills with BIC/SWIFT.
Important! Complete Steps 33–35 only if the wiring instructions from the beneficiary include a second bank in the transaction. If that’s so, enter the
second bank information in both the Correspondent Bank and
Intermediary Bank sections. Otherwise, leave the Correspondent Bank and Intermediary Bank fields blank and skip to Step 40.
33. Correspondent FI ID. (optional, alphanumeric, max. 11 characters) If there is a second bank involved, enter that bank’s BIC/SWIFT code. Click the Select FI button to auto-fill the Correspondent FI Name and Address fields.
For repetitive wire transfers, any correspondent and intermediary bank information must be entered in the profile. These fields are inactive when creating a transfer.
For semi-repetitive wire transfers, these fields can be filled or changed when creating a transfer.
34. Correspondent Party Identifier. (optional) If you need to enter a national clearing house system code for the second bank, select it from the drop-down menu. For semi-repetitive wires, this field can be filled or changed in the payment; for repetitive wires, it cannot.
35. Correspondent Code. (optional, but required if an ID is selected in Step 34;
alphanumeric, max. 15 characters) If you selected an identifier in the Correspondent Party Identifier field, enter the code. For semi-repetitive wires, this field can be filled or changed in the payment; for repetitive wires, it cannot.
36. Intermediary FI ID Type. (inactive) For FX international profiles, this field auto-fills with BIC/SWIFT.
37. Intermediary FI ID. (optional, but required if an ID is entered in Step 33;
alphanumeric, max. 11 characters) If you entered a BIC/SWIFT code in the Correspondent FI ID field, enter the same code in this field and click the Select FI button to auto-fill the Intermediary FI Name and Address fields. For semi-repetitive wires, this field can be filled or changed in the payment; for repetitive wires, it cannot.
38. Intermediary Party Identifier. (optional, but required if an ID is selected in Step 34) If you selected a national clearing house system in the Correspondent Party Identifier field, select the same one in this field. For semi-repetitive wires, this field can be filled or changed in the payment; for repetitive wires, it cannot.
39. Intermediary Code. (optional, but required if a code is entered in Step 35;
alphanumeric, max. 15 characters) If you entered a code in the Correspondent Code field, enter the same one in this field. For semi-repetitive wires, this field can be filled or changed in the payment; for repetitive wires, it cannot.
40. Click the Other Information tab and continue with the next step.
OTHER INFORMATION TAB
(For FX international profiles, this tab is active for repetitive and semi-repetitive. The tab is absent for non-repetitive.)
Figure 30. FX international – Wire Transfer: Add Profiles page, Other Information tab
In a profile, most fields on this tab are inactive. The following are defined when you create a transfer: Value Date, Contract Deal Number (if any), Exchange Rate and Indicative Amount (the transfer’s value in U.S. dollars).
41. Advice Charge. This field defines who will pay the charges to send the wire transfer.
The standard practice is to select Shared, unless you have made other arrangements with the beneficiary. The three menu options are:
Beneficiary (default) The wire recipient will pay the charges.
Regular Your company will pay the charges.
Shared Your company and the recipient will split the charges.
If you’re creating a repetitive profile, be sure to make the desired selection now.
The selection cannot be changed when creating a transfer.
For semi-repetitive profiles, this selection can be changed when creating a transfer.
42. Click the Permissions and Approval Structure tab.
PERMISSIONS AND APPROVAL STRUCTURE TAB
(For FX international profiles, this tab is active for non-repetitive, repetitive and semi-repetitive.)
Figure 31. FX international – Wire Transfer: Add Profiles for [X] page, Permissions and Approval Structure tab
Users
If this section is enabled, the settings are as follows:
43. Create Payment. If a user should not be able to create transfers based on this profile, leave the box blank. To give a user permission to create wire transfers based on this profile, check the box next to their Login ID.
Important! The list shows users with at least one Wire Transfer
permission, regardless of the permissions they have. To be able to create a payment from this profile—even with the Create Payment box checked
—a user must have Add permission for the specified type (such as repetitive) using the specified sending account(s). If you’re uncertain whether a user has the necessary permissions to create this type of payment, contact one of your company’s TreasuryPro administrators.
44. Approval Level. If the user should not be able to approve payments based on this profile, keep the default status in the drop-down menu: None.
If the user should be able to approve payments based on this profile, select Level 1 or Level 2. TreasuryPro doesn’t impose a hierarchy to these levels; they simply enable you to create two categories of approvers for increased security, if desired.
Level 1. Select Level 1 if the profile will keep the default approval structure (one required approver).
Level 2. Select Level 2 if you will refine the approval structure for this profile to include two categories, and this user should be a Level 2 approver.
Important! To approve transfers based on this profile, in addition to an assigned approval level in the profile, a user must have the following:
a. Wire Transfer “Approve” and/or “Quick Approve” permission for the profile’s payment method (such as non-repetitive) and sending account
b. Wire Transfer service parameter approval limit at or above the dollar value of the payment
If you’re uncertain whether a user has the necessary permissions to approve transfers, please contact a TreasuryPro administrator at your company.
Approval Structure
45. Currency. (inactive) This field auto-fills with USD. Regardless of the transfer’s currency, the value ranges are shown in U.S. dollars.
46. From/To. (optional, numeric) If desired, you can set an approval structure for payments based on this profile. A structure can extend to six dollar-value ranges.
Define the first-tier range by double-clicking on “Maximum” in the To field and entering the desired amount. When you do so, the fields in the second tier change:
the From field auto-fills with that amount plus one cent, and the To field displays
“Maximum.” To add a third tier, double-click on “Maximum” and enter an amount.
The fields in the fourth tier update accordingly. Continue until you’ve defined the desired number of tiers.
47. Required Approvers. Because wire transfer settlement is immediate, as a precaution, Umpqua Bank requires one approver for all wire transfers. You can increase the number of approvers required for payments, if desired. If you’ve set a tiered approval structure, from the drop-down menu for each tier you can choose the number of approvers required.
Tip: To place a ceiling on the dollar value of payments based on this profile, add a tier above the highest dollar value you want to allow. The range for this final tier will be from one cent above the highest value to
“Maximum.” From the Required Approvers drop-down menu, select “NA”
(see Figure 32). This setting prohibits approval of payments that exceed the ceiling amount.
Figure 32. Sample approval structure (with ceiling set at $7500)
48. Level 1, Level 2 columns. (optional) If desired, you can refine the approval structure even further, so that approvers must come from different categories in your
organization. Keep in mind that TreasuryPro doesn’t define a ranking for “Level 1” vs.
“Level 2.” Your company can set its own distinction between the two and decide which users should be assigned to each.
In the Level 1 and Level 2 columns for each tier, enter the number of approvers, as appropriate. Be sure that for each tier the total number of Required Approvers equals the number of Level 1 plus Level 2 approvers.
Leaving these fields blank means approvers can come from either level. In Figure 32, for example, in the first tier, the one approver required could come from either level. In the second tier, of the two required approvers, one must come from Level 1 and the other from Level 2.
Important! If you set a level distinction, be sure in Step 44 to designate an adequate number of approvers at both levels. If there aren’t enough approvers available by the process date, the payment will expire without being processed. Note, however, that if a payment expires, you can use it to create another. (For steps, see 9.7.5 Model a wire transfer to create a new transfer, on pg. 116).
49. If you’re creating a non-repetitive profile, continue with the next step. If you’re creating a repetitive or semi-repetitive profile and you’re ready to submit it, skip to Step 51.
ASSIGNABLE ACCOUNTS TAB
(This tab is present only for non-repetitive profiles.)
Figure 33. FX international – Wire Transfer: Add Profiles for [Company] page, Assignable Accounts tab
50. Accounts. If desired, non-repetitive profiles can enable a choice of sending account when a transfer is created: To assign several accounts, in the Available panel, hold down the Ctrl key and click to select the accounts, then click the Add > button to move them to the right. To assign all available accounts, simply click the Add All >>
button. If transfers should allow a single account only, select that account on the left and click Add > to move it to the Assigned panel.
51. When you’re done setting up the profile, click...
Save to create the new profile.
Cancel to exit without creating the profile.
52. When you click Save...
If your company’s workflow requires approval for profiles, you’re returned to the Profile Maintenance page. The profile is listed with Pending Approval status: a permitted user must approve it before it can be used to create payments. The profile setup is complete.
Tip: If you’re waiting for another user to approve a profile so you can create a payment, be sure to click TreasuryPro’s Refresh icon
periodically. Changes made by other users don’t automatically update on your screen.
If your company’s workflow does not require approval for profiles, a dialog box will prompt you to verify the action by telephone.