Payment methods for Wire transfers

[Former Member]

Hello,

I want to decide which payment method to configure for wire transfer out of the standard SAP methods:

D Bank transfer (ACH CCD)

P Bank transfer (ACH PPD)

T Bank transfer (ACH CTX)

What is the difference between each of these transfer types, if someone can pls suggest will appreciate that.

[Former Member]

Win:

CCD:

Cash Concentration or Disbursement

Cash Concentration or Disbursement can be either an ACH credit or debit where funds are transferred between corporate entities.

The format can support a limited amount of payment related data with the funds transfer while also being capable of a stand-alone funds transfer.

PPD:

Prearranged Payment and Deposit Entry

Direct Deposit - Direct Deposit is a credit program that transfers funds into a consumer's account at the Receiving Depository Financial Institution. The amount deposited can be from a variety of products, such as payroll, interest, pension, dividends, etc.

Pre-Authorized Bill Payment - Preauthorized payment is a debit program enabling companies with billing operations to collect funds from consumers thorough the electronic transfer of bill payment entries.

The consumer grants the originating company authorization to collect periodic charges to his or her account as bills come due. This concept has been successful in both recurring bills of regular amounts (mortgage payments) and variable amounts (utility bills).

CTX:

The Corporate Trade Exchange format supports transferring of funds, either credits or debits, within a trading partner relationship utilizing a full ANSI ASC X12 message or when payment related UN/EDIFACT information is sent with the funds transfer.

Multiple addenda records contain the ANSI or UN/EDIFACT information.

More info on

http://www.treasurysoftware.com/ach_file_format.html

http://en.wikipedia.org/wiki/Automated_Clearing_House

Assign points if info helps

Vj