Faster Payments enablement guide - NatWest

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Statement Changes A new bulk credit will be posted to your settlement account from the date your sort code is enabled. The narrative of this bulk entry will be shown as: FP SETLMT xxxxxx (your sort code). Funds availability Bankline will show the accumulating number and value of Faster Payments into your HOCA as shown below: At the daily working day account cut off at 18.30 cut, the balance visible on the Bankline screen will be frozen at the total amount received until the account entry is posted. Payments after 18.30 will start to accumulate separately as part of next day’s balance but will only be visible after the prior day’s entry is posted to your account. 4
Faster Payments options As a result of enabling your sort code for Faster Payments, there will be some changes to your data files and settlement transactions for the Datalink CAS service. The changes will depend on which option you select to receive the Faster Payments information. The options and changes are summarised below and each option is expanded in the following pages. Option 1: A merged CAS file You may find this easier as it does not require you to receive an additional file. Faster Payments transactions would be stored at NatWest as they are received, then merged into your existing CAS file so that you have one file to process in the same way that you do today. You will receive the benefit of the funds in near real-time, and if you process your CAS file overnight, your customer accounts/records will be updated earlier. Option 2: Separate Faster Payments file(s) Faster Payments received at NatWest will be batched periodically during the day and made available to you in Faster Payments files throughout the day. You have the option to receive between one and five files at various times. You can receive the information in the same file layout as your CAS file or a new ISO8583 format is also available. This option is likely to present the most changes to your processes. The benefit is having the ability to receive files intra-day in order to update your customer accounts/records in the earliest possible timescales. We have provided some more information in Appendix B and a full file format is included in your pack. 5
Page 1 and 2: Faster Payments enablement guide Na
Page 3: Receiving Faster Payments Existing
Page 7 and 8: Option 2 - Separate Faster Payments
Page 9 and 10: Appendix A: Faster Payment Reversal

Faster Payments enablement guide - NatWest

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