Skip to Content

Cross Border Purpose code Configuration

Hi ,

We are configuring ACH & Wire payment for JP Morgan Bank . The account will be operated from Singapore and payment will be made with in Singapore and across other countries .

Payments initiated from or sent to certain countries may require specific Regulatory/Clearing declaration on purpose code etc.

The requirement is to share the purpose code is different for each country in specific format while processing the file and sent to JP Morgan.

e.g for Philippines

Provide purpose of Payment Information as /REG/XXXXX where XXXXX is the Purpose Code

Where as for Indonesia it is

For regulatory FX Reporting to Central Bank, you will need to provide the following codewords if transaction is greater than USD10000 or equivalent. Format: "/REG/BIDATA,(ISO Country Code), (Category), (Relationship), (Transaction Purpose Code)" e.g. "/REG/BIDATA,US,E0,B,2183"

additional information :

Please refer to the attached link for Country Specific Payment Regulations

https://www.jpmorgan.com/tss/General/Country_Specific_Payment_Regulations/1159348953292

Please advise how this can be done in SAP .

1. While preparing the invoice

2. Capture during F110 run

Any advise would help.

Regards

Jogendra

Add a comment
10|10000 characters needed characters exceeded

Related questions

0 Answers

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.