Instant Payments/365 day reporting and sweep processing per product
See below the country overview for Instant Payments/365 day reporting and sweep processing per product.
Country | Instant Payments 365 Day Reporting | Product Domestic Cash Balancing | Product Cross-Border Cash Balancing | Product Domestic VBA1 | Product Cross-Border VBA2 |
|---|---|---|---|---|---|
| Austria | No | Week days | Week days | Week days | Week days |
| Belgium | Yes | 7 days | Week days | 7 days | Week days |
| Bulgaria | No | Week days | Week days | Week days | Week days |
| Czech Republic | No | Week days | Week days | Week days | Week days |
| Germany | Yes | 7 days | Week days | 7 days | Week days |
| France | No | Week days | Week days | Week days | Week days |
| Hungary | No | Week days | Week days | Week days | Week days |
| Ireland | No | Week days | Week days | Week days | Week days |
| Italy | Yes | 7 days | Week days | 7 days | Week days |
| Luxembourg | No | Week days | Week days | Week days | Week days |
| Netherlands - ING | Yes | 7 days | Week days | 7 days | Week days |
| Netherlands - BMG | No | Week days | Week days | Week days | Week days |
| Poland | No | Week days | Week days | Week days | Week days |
| Portugal | No | Week days | Week days | Week days | Week days |
| Romania | No | Week days | Week days | Week days | Week days |
| Slovakia | No | Week days | Week days | Week days | Week days |
| Spain | No | Week days | Week days | Week days | Week days |
| Switzerland | No | Week days | Week days | Week days | Week days |
| United Kingdom | No | Week days | Week days | Week days | Week days |
1) Domestic VBA is an account structure where the VBA and Master account are in the same country.
2) Cross-Border VBA is an account structure where the VBA and Master account are in different countries.
Domestic Cash Balancing (DCB)
What happens to DCB after a go live of Instant Payments (IP)/365?
- Intraday and End-of-Day (EOD) balances on the participating account will be swept or funded with the master account 7 days per week.
- EOD Target Balancing on participating account will take place at 23:15.
- Any transaction on the participating account between 23:15 and midnight will be swept or funded in the next day EOD run; Balances may occur overnight.
Specific on Instant Payments – Incoming credits
Incoming Instant Payments credits on the participating account will be booked into the balance immediately, therefore always taken into account when doing the Target Balancing.
Cross Border Cash Balancing (XBCB)
What happens to XBCB after the go live of IP/365?
Intraday and EOD balances on participating account will be swept or funded with the master account on week days (5 days per week).
What happens to XBCB when the Participant and Master Account are on IP/365?
- EOD Target Balancing on participant account will be swept or funded with the master account at 23:15 on week days (5 days per week).
- Any transaction on the participating account between 23:15 and midnight will be swept and funded with the master account in the next processing date EOD run; Balances may occur overnight.
What happens to XBCB when the Participant Account is on IP/365 and the Master Account in country X is not?
- EOD Target Balancing from participant account on IP/365 to master account in country X will take place at EOD closure time of master account in country X on week days (5 days per week).
- Any transaction on the participating account between EOD time master account in country X and midnight will be swept or funded with the master account in the next processing date EOD run; Balances may occur overnight.
What happens to XBCB when the Participant Account is not on IP/365 and the Master Account is on IP/365?
EOD Target Balancing from participant account to master account will take place at EOD closure time of participant account on week days (5 days per week).
Specific on Instant Payments – Incoming credits
Incoming Instant Payments credits on the participating account will be booked into the balance immediately, therefore always taken into account when doing the Target Balancing.
Virtual Bank Account (VBA)
Domestic VBA - What happens to VBA when the VBA and Master Account are on IP/365 and in the same country?
- Instant payments credits on the VBA will be swept 7 days per week to the master account.
- Instant payments debits from the VBA will be funded 7 days per week from the master account.
Cross Border VBA - What happens to VBA when the VBA and Master Account are on IP/365 but in different countries for example VBA in Germany and Master in NL?
- Instant Payments credits on the VBA on weekends will immediately be debited from the VBA but the credit booking on the master account will be executed on the next processing date.
- Instant Payment debits from the VBA on weekends will be processed on the master account and VBA the next processing date.
- The debit from VBA and the credit on the master account may therefore have a different processing date.
Cross Border VBA - What happens to VBA when the VBA is on IP/365 and the Master Account (country X) is not?
- Instant Payments credits on the VBA on weekends will immediately be debited from the VBA but the credit booking on the master account will be executed on the next processing date.
- Instant Payment debits from the VBA on weekends will be processed on the master account and VBA the next processing date.
- The debit from VBA and the credit on the master account may therefore have a different processing date.
In all cases
- Daily zero value balances on the VBA remain guaranteed.
- Value dates of the sweeps (debit and credit) remain respected, no deviations.