BINETIX NETWORK

The process of sending a cashless postal money transaction is automated in several main steps:

1)Select the type of transaction and the payment method;

2)Filling in the financial requisites of the transaction;

3)Filling in information about the sender;

4)Filling in the receiver's information;

5)Filling in the bank account of the receiver;

6)Performing  security reconciliations (checks);

7)Finalizing the sending of postal money transaction.

The practical approach of sending postal money transaction is unified in BINETIX PTM with the described business process in cash operations, is extended only with the appropriate requisites necessary for payment to the receiver's account. In the description below, we assume that you are already familiar with the general principles for receiving transactions and will only overview the specific process differences.

The example below deals with the receiving of a single postal money transaction with COD, which must be paid by bank transfer (account) to a beneficiary (recipient). The example is specifically selected to demonstrate the capabilities of the System for automation of common situation in which a customer receives goods from a legal entity with COD to be paid into a beneficiary's designated bank account.

Note:  Please pay attention (!) that during the processing you can receive the money transaction from the sender either by cash or by payment Order. In cases of cash on delivery (COD), the payment method of the sender may be fixed "in cash". This configuration must be agreed with the organization for which you work prior the System implementation.

The mandatory requisites for filling the beneficiary (recipient) when sending a postal money transaction into an account are:

✓Bank account number - the System automatically validates the IBAN number you entered;

✓Bank Code (BIC);

✓Beneficiary bank name.

In addition, for postal money transaction with COD, the following must also be completed:

✓Parcel number;

✓Reason for payment, in which field it is advisable to indicate the specific commitment of the client to the beneficiary. The reason for the payment may be used by your colleagues when completing the payment Order with the respective bank.

The process of Receiving cashless postal money transaction is automated and summarized in the following main steps:

1)Finding a cashless postal money transaction for Receiving;

2)Blocking of postal money transaction for Receiving - awaits confirmation from an external financial institution (bank);

3)Filling in information about the payment - data from the payment Order;

4)Performing security reconciliation;

5)Finalizing the Receiving (payment) of the transaction.

Important! In the System is available a special user role that provides the necessary access rights to the screens for cashless money transactions. If you do not have the necessary rights, you will not be able to use this functionality.

The practical approach of Receiving a postal money transaction is unified in BINETIX PTM and synchronized with the described business process for cashless operations. In the description below, we assume that you are already familiar with the general principles for Receiving money transactions and will only go through the specific differences in the processes.

Transactions in status "For Receiving" by cashless payment are processed differently than transactions by cash payment. The reason for the differences in the process is that the factual receiving of the postal money transaction must end in an external financial institution (bank).

Before taking the step to the processing of this type of transactions, it is necessary to check that all internal rules and conditions are complied with. Some organizations, for example, require a hard copy of the original Order as a basis to continue the process. In other organizations this process has been optimized and the fact that there is a confirmed entry in BINETIX PTM is considered sufficient to continue the work. This configuration must be agreed prior the System implementation.

The figure below illustrates an example checkup of postal money transaction for Receiving by a cashless payment.

You have two functional capabilities:

▪To return the transaction for new or second check (recheck) - press the "New" button ;

▪To block (reserve) the transaction for payment - press the "Block" button.

After successful blocking, you have the opportunity to conduct the necessary payment operations in compliance with the external financial institution (bank). These actions usually take time, especially when you have to wait for confirmation from the bank that the money transaction has been completed successfully.

At BINETIX PTM, you can go again in this point in the process and load blocked transactions at a later date when you receive the necessary confirmation.

The screen below shows how you can enter information from the banking institution regarding the status of the requested payment Order. In the example, the payment Order was successfully processed, but the banking institution may refuse the execution. At this point in the business process, you can do the following:

1)If it is refused and you wish to place a new bank payment Order - press the "New" button (see above);

2)Upon successful completion of the Order - press the button "Save and check";

3)Upon successful completion of the Order - press the button "Save and check";

4)In case of refusal and desire to payback or, and to notify the sender - press the button "Return to sender"

If the bank Order is successfully executed, the standard security reconciliation is performed.