Faster Payments enablement guide - NatWest

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Faster Payments – Data file changes As indicated, when you enable your sort code for Faster Payments, there will be some changes to your data files and settlement transactions for the Datalink service. The impacts of these are summarised below. Data files As payments may be received intra-day and will contain more sender information, we will provide you with data in the Faster Payment file format (ISO8583) and options to increase the frequency that you receive your data. As payments will be received in near real time, you will need to consider when you will update your customers’ accounts. Unlike your existing data file, the Faster Payments value date is the same date as the file; whereas Bacs Credits and/or Paper Credit Clearing are the business day after the file is made available. Your existing data file is provided on Day 2 of the 3-day clearing cycle. File Format For Faster Payments transactions you will be required to accept the file in ISO8583 format. To assist you we have provided information on the ISO8583 format in Appendix B and a full file format is included in your enablement pack. Separate Faster Payments file(s) Faster Payments received at NatWest will be batched periodically during the day and can be 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. The benefit is having the ability to receive files intra-day in order to update your customer accounts/records in the earliest possible timescales. Please refer to the Faster Payments file times on page 6. New Faster Payments return reason codes Where a Faster Payment cannot be applied to the beneficiary’s account, you may receive a Faster Payment Return Credit payment. One of the following return reason codes will be provided in the payment return code (field 126 in the ISO8583 format): 0001 Beneficiary sort code/account unknown 0002 Beneficiary account closed 0003 Beneficiary account stopped 0004 Beneficiary deceased 0005 Account not identified without data in reference field 0006 Beneficiary account name and number do not match 0007 Return requested by sender of original payment 0008 Account is not in currency quoted 0009 Beneficiary not expecting funds/instructed return 0010 Terms and conditions of account do not allow receipt 0011 Fraudulent payment suspected 0012 Account transferred 0013 Reason not specified because of sensitivities 0014 Other 4
File Frequency As Faster Payments may be received at anytime during the day, you will be required as a minimum, to take a daily data file. If you currently take your file less frequently than once a day, you can continue to do so for Bacs and Credit Clearing. Although we will generate a Faster Payments file every day, you will still have the option of collecting several files at once at your regular scheduled frequency instead of picking them up each day. You should bear in mind your customer proposition once real-time fund transfers are established. File names Each file will have a new name to differentiate if from your existing data file/s. Your internal systems will need to be updated to recognise this new name. File availability time If you currently download your existing data file before 19:30, you will need to change your scheduling to retrieve the file after 19:30. If you process files on an overnight batch basis, you should check the timing of this process. 5
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Page 3: Receiving Faster Payments Impact Yo
Page 7 and 8: Datalink Charges Datalink/ISO8583 f
Page 9: Appendix B: Faster Payments ISO8583

Faster Payments enablement guide - NatWest

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