Creating branches for financial institutions

A branch is a registered office of an institution or bank. A branch can be a department that is within a financial institution or a bank or it can be another physical location.

  1. Select Financial Institutions.
  2. Open a financial institution record.
  3. On the Branches tab, click Create.
  4. Specify the Branch name and Description.
  5. On the Detail tab, specify this information:
    Branch Type
    Select the branch type. The valid options are operating, debt, and investment.
    Branch SWIFT
    For international bank accounts, specify the SWIFT code.
    Authorization ID
    Specify an authorization ID.
    Wire Transfer Output File Type
    Select the electronic payment output file.
    Bank Client Identifier
    Specify the identifier that is used by the bank to identify clients. This value is used in the payment output files for electronic payment files that are transmitted to the bank.
  6. In the Routing Numbers section, specify the routing numbers for each payment format.
  7. In the Branch Address and Other Address sections, specify the country and type of address.
    Note: Other Address can be used as an audit address to which audit confirmations are sent.
  8. Click Save.
  9. On the Contacts tab, click Create and specify contact information:
    Address Different From Branch Address
    Select this check box if the contact's location is different than the branch location.
  10. Click Save.
  11. On the Branch Ratings tab, click Create and specify this information:
    Rating Agency
    Specify the name of the organization that assigns ratings for institutions based on their performance history and future potential.
    Rating
    Specify the rating or score from the rating agency.
    Description
    Provide a description for the rating or score.
    As Of Date
    Specify the date on which the rating was posted to the agency site.
    Rating Website
    Specify the URL of the rating agency website.
  12. Click Save.
  13. On the Intermediary Banks tab, click Create and specify this information to transfer payment to other countries:
    SWIFT
    Specify the SWIFT code for the intermediary bank.
    Description
    Specify a description of the intermediary bank.
    Currency
    Specify the currency for the intermediary bank. A branch can have only one currency code.
  14. Click Save.
  15. To add documents, see Attaching documents.
  16. On the Credit Line tab, click Create and specify this information:
    Credit Line
    Specify a unique number for the credit line.
    Credit Limit
    Specify the amount of credit.
    Currency
    Select the currency of the credit line. If this field is blank, then the currency that is defined for the financial institution is used.
    BOE Due From Days
    Specify the start and end date to define a range for bills of exchange that are used to secure the credit line. The range is used to select bills of exchange for discounted remittance.
    Margin Days
    Specify the number of days to add to the bills of exchange due date before a bill of exchange is considered cashed. A cashed bill of exchange is no longer a credit risk. If this field is blank, then no margin days are used.
  17. Click Save.