Creating a Freeform Transaction

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Clarence Charles
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Q U I C K S T A R T G U I D E Funds Transfer Initiation JPMorgan Chase Funds Transfer Initiation (FTI) facilitates wire transfer initiation across the country and around the world.

Under Transaction Services, click Funds Transfer Initiation to open the FTI module. 1 Creating a Freeform Transaction Once you ve launched FTI you re ready to get started.

You can also change the display on this screen by moving and sorting the columns. Note: You must have the proper entitlements to be able to create a freeform transaction.

1 Q U I C K S T A R T G U I D E Funds Transfer Initiation JPMorgan Chase Funds Transfer Initiation (FTI) facilitates wire transfer initiation across the country and around the world. This convenient guide highlights commonly used functions. Use it as a quick reference. A glossary explaining the terms used is available at the end of the guide. Let s get started! Under Transaction Services, click Funds Transfer Initiation to open the FTI module. 1 Creating a Freeform Transaction Once you ve launched FTI you re ready to get started. The main screen will display a summary of recent FTI transactions. To see a different status transaction, you can change the filter using the Filters button. You can also change the display on this screen by moving and sorting the columns. Note: You must have the proper entitlements to be able to create a freeform transaction. To create a freeform transaction: Click the Add button. From the Add drop-down list, select Transaction. The Add Transaction screen will display: Select an account from the Account dropdown list or by clicking the Account link. Select a Pay Method (i.e., FED). Enter a Value Date. Enter a Payment Amount. Enter the appropriate routing information using the center tabs. Not all tabs are applicable for every transaction. You may want to use the information you entered for similar transactions. If so, just click Save & Reuse. Or, you may click Save & Clear to complete your transaction and clear the form. You will see the system-generated Transaction ID number. Click Close to return to the main screen; click Refresh to update the screen or use the filters to change the types of transactions displayed. You can also create lines to use for repetitive transactions, see Sections 4 and 5 for information.

2 2 Approving & Releasing Transactions New and modified transactions must be approved before they can be released to the Bank for processing. To see all transactions that require approval, select the Filter for Transactions Entered - Not Approved. To approve transfers, highlight the wire(s) you want to approve and click the Approve button. If you want to review a wire s detail, double click on the wire (or select it and click the View Details button). A detail window will display. You can then click on the Approve button from the detail window. Approval authority is based on entitlements. Users can be set up to approve others transactions and/or approve their own transactions. If you have the Auto Approve Own entitlement, the Approval step is skipped. Once a wire is in Approved status, it can be released. Releasing wires is also based on entitlements, and users can be set up to release others transactions and/or release their own wires. Releasing wires on FTI requires a secondary authentication. Keep your SecurID handy. Highlight the wire(s) you wish to release and click the Release button at the top. You ll be prompted for your Password and Token Code to release the transaction(s). The release function sends funds transfers to the Bank for processing. Note: You must have the proper entitlements to be able to approve and release a transaction. 3 Creating Freeform International (Foreign Currency) Wires You begin an international funds transfer by following the same steps as a US dollar funds transfer. From the main screen: Click the Add button. From the Add drop-down list, select Transaction. When the Add Transaction screen displays: Select an Account from the Account drop-down list or by clicking the Account link. Select FXW as your Payment Method. Select Payment Currency. Enter FX Payment Amount. Complete the routing information and payment details on the center tabs. Select Save & Clear or Save & Reuse. Follow the steps to Approve and Release (Section 2). Note: The Daily FX rate is available until 3:30 PM ET. If not using the daily rate, the FX Rate will be available once the account is debited, through eserve or detailed electronic reporting. Daily cutoff time for Same Day Processing is 3:30 PM ET. See Section 5 for information on creating repetitive transactions. SecurID is a registered trademark or trademark of RSA Security Inc. in the United States and/or other countries Page 2

4 Creating Repetitive Instructions (Lines) You can create lines to be used as templates for future transactions.

There are two main types of lines you may choose: Customer Verified Lines and Bank Verified Lines.

Transactions created from CVLs are freeform transactions and require the user to have the entitlement to create freeform transactions. These lines are available for use immediately after being saved.

Bank Verified Lines (BVL): After being approved by a second user, these lines will be reviewed and approved by Bank staff and are then activated (available for use within 5 business days).

Click the Add button to display the drop-down list and select the type of line you want to create (CVL or BVL). The Add Line screen will appear. Click the Ultimate Bene tab.

3 4 Creating Repetitive Instructions (Lines) You can create lines to be used as templates for future transactions. Creating lines and using them as the basis for repetitive transactions speeds the data-entry process and can help minimize errors. There are two main types of lines you may choose: Customer Verified Lines and Bank Verified Lines. Customer Verified Lines (CVL): Do not require approval to activate the line and are not reviewed by Bank staff. Transactions created from CVLs are freeform transactions and require the user to have the entitlement to create freeform transactions. These lines are available for use immediately after being saved. All fields can be changed as necessary when using the line in a transaction. Bank Verified Lines (BVL): After being approved by a second user, these lines will be reviewed and approved by Bank staff and are then activated (available for use within 5 business days). Only the amount, value date, and payment detail text can be entered when using the line in a transaction. To create and maintain lines, select Lines from the drop-down list on the top left. Click the Add button to display the drop-down list and select the type of line you want to create (CVL or BVL). The Add Line screen will appear. Click the Ultimate Bene tab. Enter the routing information on the tabs as you would for a freeform transaction. Save the line. CVLs will be active immediately. Bank Verified Lines require a second user to approve them and are then reviewed by the bank. Once approved by the bank, the line will change to a status of active and it will be available for use in transactions. To approve BVLs select the Lines Requiring Approval filter. Choose the line(s) to approve. Click the Approve button, and then enter your Password and Token Code to approve the line(s). Note: CVLs must be used to create a repetitive Foreign Currency transaction. If you create a Bank Verified Line for a U.S. Dollar payment and check the All Semi-Repetitive Text box for that line, repetitive transactions based on that line will allow one additional line of text to be entered on the Payment Details tab. Enter a Line Name (16 characters maximum). It must be unique within the Account/Branch. Select an Account. Enter Bank Line (Bank Verified Lines only). These four numbers uniquely identify the line. Choose a Pay Method. Note: You must have the proper entitlements to be able to create repetitive lines. Page 3

5 Using a Repetitive Line Using a Repetitive Line speeds the data-entry process. There are two ways to select an existing line to use in a transaction.

Note: Customer Verified Lines are indicated by a red dot on the left side. 6 Running Reports You can select and run the reports you need by date range. It s easy to run a report.

Click the report you wish to see, enter date range if applicable, select the accounts for which you wish to see reports, and click Run Report. Or, for more detail, click on the Line Name link.

4 5 Using a Repetitive Line Using a Repetitive Line speeds the data-entry process. There are two ways to select an existing line to use in a transaction. From the main screen, go to the Add button dropdown list and select Transaction. Choose a line from the Line Name drop-down list. Note: Customer Verified Lines are indicated by a red dot on the left side. 6 Running Reports You can select and run the reports you need by date range. It s easy to run a report. From the JPMorgan ACCESS SM homepage, you select Funds Transfer under Reporting. The main reports screen will display. Click the report you wish to see, enter date range if applicable, select the accounts for which you wish to see reports, and click Run Report. Or, for more detail, click on the Line Name link. Select a line from the list and click OK. Below is a sample page from a Transaction Detail Report which shows detail level transaction information for a specified date range. Transactions based on Customer Verified Lines are similar to freeform transactions in that you may add, change or delete values that were saved with the line. Enter the Value Date and Amount. Add or change any or all other fields as necessary. Click the appropriate Save button. When you create a transaction based on a Bank Verified Line, all debit, credit and beneficiary routing information is protected. Enter the Value Date and Amount. Optionally enter freeform text on the Payment Details tab. Click the appropriate Save button. When you are finished entering transactions, click Close to return to the main FTI screen. Approve and Release as you would freeform transactions. Note: You must have the proper entitlements to be able to use a repetitive line. Page 4

5 7 Quick Entry Quick Entry is a time-saving option that allows you to enter and save multiple repetitive transactions on a single screen. From the FTI main screen, with Transaction in the left drop-down box, click Add and select Quick Entry. The screen opens to display a table with one row. All fields are initially blank. Click the arrow in the Line Name cell to display a drop- down list of all active lines you are entitled to work with. Highlight and click a line to select it (Customer Verified lines are marked with red dots). Click in the Amount field. This populates the Value Date, Currency, Account, and Ult Bene Name fields. Enter the amount and press the Tab key to advance to the Value Date field. The Value Date defaults to today s date. To change the date: You can type in a new date or use the calendar icon to select a date. Tab or click to the Payment Details field and enter text, according to these rules: For a U.S. dollar transaction based on a Bank Verified Line for which the Allow Semi- Repetitive Text indicator is checked, you can enter one line of 35 characters. For a Customer Verified Line no payment detail text can be entered in Quick Entry. To add a new row for additional Quick Entry transactions: Click in the Value Date or Payment Details field of the row you have just completed. Then press Enter on your keyboard. You can add a new row only if the previous row contains complete data. Click Save when you re done. Approve and Release as you would other transactions. 8 View Details of a Transaction You can view details for an individual transaction or repetitive line from the FTI main screen by: Double-clicking the row. or Selecting the row and then clicking View Details. Either action will open the View Details screen. 9 Modifying Transaction a If you have the modify entitlement, you can modify a transaction that has not yet been released to the Bank. To modify: Open the FTI main screen. Select a filter to narrow your search. Select the transaction you want to modify. Click Modify. This opens the Modify Transaction screen, which is identical in appearance to the Add Transaction screen. Make the changes. Click Save and Close. The system updates the FTI main screen. Depending on your entitlements, your modification may need to be approved by another user. Page 5

6 10 Glossary of Terms Keep this Glossary handy to quickly reference the most commonly used terms in this application. Account: Typically the debit (settlement) account, although credits post to an account for the receipt of funds from a drawdown request. Alert (status): The status of Alert indicates that the Bank may not have processed a funds transfer transaction. If a transaction is in Alert status, contact your local Help Desk for resolution. Transactions with an Alert status are included in the Transactions Released Not Confirmed view and can be deleted. Amount: The dollar value of the funds transfer request. The amount you enter in the Amount field, located in the middle portion of the Add Transaction screen, cannot exceed your transaction limits. If it does, the Bank will reject the payment request. Auto-approve: An entitlement that allows a user s transactions to be automatically approved when saved. Bene Bank: The Bank where the end-target party (Ultimate Beneficiary) has its account. CCN: Control Number. A mainframe-generated number for a stored, released, or warehoused transaction. The format of the CCN includes the year, day, Back Office Code, and Transaction Control Number. CHIPS: The Clearing House Interbank Payment System is an independent, large-dollar funds transfer network that links U.S. and foreign banks. CHIPS handles the majority of dollar payments related to international trade. Clearing Ref: The Fed, Book, and CHIP reference numbers from the wire clearing system. The Clearing Ref is reported after the transaction status is updated to released. Reference numbers are available in real time after a transaction has been processed by the Bank s back office. Entitlements: Applications may be accessed and data retrieved based on the user s permissions within the client s profile on the JPMorgan client database. Freeform: Freeform, or random transactions are one-time funds transfer requests that you create from scratch, on an as-needed basis. Funds Transfer: A payment or drawdown transaction, in U.S. Dollar (USD) or non-usd currency, created either from scratch (freeform) or based upon a repetitive line. Also known as a wire. FX Rate: The daily fixed FX rate; can be used as a reference. The daily credit currency rate will be displayed when initiating a transaction in a currency other than the originating account currency (Auto FX wires/us only). Only payments made with the Apply Daily FX Rate box selected will actually be charged this rate. Hash Total: Represents the sum total of all the payments selected, regardless of currency. IBAN: International Bank Account Number. A series of alphanumeric characters that uniquely identifies an account held anywhere in the world. Facilitates the automated processing of cross-border credit transfers. Lines: Reusable instructions for frequently used payments. These instructions are stored at the Bank and specify the Debit Account, Ultimate Beneficiary, and all Beneficiary data. Lines are used for funds transfer transactions for U.S. domestic and global payments, and for U.S. domestic drawdowns. Quick Entry: A time-saving option for entering and saving multiple repetitive transactions on a single JPMorgan ACCESS FTI screen. Repetitives: Transactions based on approved, active lines stored at the Bank. Generally processed without operator intervention, they are used typically to ensure accuracy and reduce redundant data entry, keying errors, and processing delays. Security Administrators: Two or more individuals within your organization who are entrusted with receiving secure information from JPMorgan. Security Administrators are authorized to set up and maintain user information and access entitlements. SecurID: The signing of encrypted data transfer that allows proof of origin and proof of delivery; also known as two factor authentication. Straight-through Payments: Requests processed in a fully automated fashion, needing no human intervention, to proceed electronically through bank systems. SWIFT: Society for Worldwide Interbank Financial Telecommunication. SWIFT is a non-profit, cooperative organization that facilitates the exchange of payment messages between financial organizations around the world. Tran ID: A unique, local, sequential number that is generated when a Funds Transfer is saved. The Tran ID appears on the Summary screen and also on the Audit logs. Ultimate Bene: The party that ultimately receives credit for a funds transfer. Value Date: The date on which a funds transfer transaction is processed. The default value date is the current date. Funds transfers cannot be back-dated, but they can be forward value-dated up to 15 business days JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC BAU FTI QS-1.0 Page 6

Quick Start Guide. Funds Transfer Initiation (FTI) Let s get started! 1. Creating a Freeform Transaction

Quick Start Guide. Funds Transfer Initiation (FTI) Let s get started! 1. Creating a Freeform Transaction Quick Start Guide Funds Transfer Initiation (FTI) FTI facilitates wire transfer initiation across the country and around the world. This convenient guide highlights commonly used functions. Use it as a