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EDIFACT message guide · Finance

FINPAY Multiple interbank funds transfer

The UN/EDIFACT message financial institutions use to request transfers of funds between them, directly or through a clearing system.

Sent by
Financial institution
Received by
Another financial institution or a clearing system
Standard
UN/EDIFACT · Batch message
X12 equivalent
No direct equivalent

What is the EDIFACT FINPAY message?

FINPAY is the UN/EDIFACT multiple interbank funds transfer message. The directory defines it as a message sent between financial institutions to request the transfer of funds in settlement of the referenced business transactions. It may be exchanged directly between institutions or through a clearing system.

FINPAY operates in the interbank space: after a customer orders payments, the ordering bank uses interbank messages to move the funds to the beneficiaries' banks. Corporate users rarely see it, but its data, including remittance references, determines what reaches the beneficiary.

How the EDIFACT FINPAY message worksDiagram of the UN/EDIFACT FINPAY Multiple interbank funds transfer message. Financial institution sends it to another financial institution or a clearing system. It usually follows PAYMUL. It is usually followed by CREMUL. Inside the UNB and UNH envelopes, the directory D.21A requires, in the start of message: BGM (Beginning of message) and DTM (Date/time/period) and body and segment groups: the required SG3 loop with LIN (Line item), the required SG4 loop with FII (Financial institution information), the required SG6 loop with MOA (Monetary amount) and the required SG12 loop with SEQ (Sequence details), the required SG13 loop with FII (Financial institution information) and the required SG16 loop with MOA (Monetary amount) and CNT (Control total). 15 conditional segment groups are listed by their trigger segment.How the EDIFACT FINPAY message worksMultiple interbank funds transfer: who sends it, where it fits and what the directory marks mandatory1 WHERE IT FITSUSUALLY FOLLOWSPAYMULMultiple payment orderFINPAYSENDERFinancial institutionRECEIVERAnother financialinstitution or aclearing systemCONTRL syntax report back, if agreedUSUALLY FOLLOWED BYCREMULMultiple credit advice2 WHAT DIRECTORY D.21A REQUIRESInterchange: sender and recipient IDsUNB … UNZMessage FINPAYUNH … UNTSTART OF MESSAGEBGMBeginning of messageDTMDate/time/periodBODY AND SEGMENT GROUPSMandatory group SG3 · repeats up to 9,999LINLine itemMandatory group SG4 · repeats up to 5FIIFinancial institution informationMandatory group SG6 · repeats up to 4MOAMonetary amountMandatory group SG12 · repeats many timesSEQSequence detailsMandatory group SG13 · repeats up to 4FIIFinancial institution informationMandatory group SG16 · repeats up to 4MOAMonetary amount+ required CNT and 15 conditional groups, starting with:RFFFIIFCAINPGEIPAINADPRCMOAAUTBlue box: mandatory segment group. Conditional groups are listed by the trigger segment that starts them; a group is sent only when its data applies.Conditional segments outside groups are not drawn.Structure: mandatory segments and groups in the UN/EDIFACT directory D.21A listing for FINPAY. Your trading partner's implementation guide adds itsown requirements.
How the EDIFACT FINPAY message worksDiagram of the UN/EDIFACT FINPAY Multiple interbank funds transfer message. Financial institution sends it to another financial institution or a clearing system. It usually follows PAYMUL. It is usually followed by CREMUL. Inside the UNB and UNH envelopes, the directory D.21A requires, in the start of message: BGM (Beginning of message) and DTM (Date/time/period) and body and segment groups: the required SG3 loop with LIN (Line item), the required SG4 loop with FII (Financial institution information), the required SG6 loop with MOA (Monetary amount) and the required SG12 loop with SEQ (Sequence details), the required SG13 loop with FII (Financial institution information) and the required SG16 loop with MOA (Monetary amount) and CNT (Control total). 15 conditional segment groups are listed by their trigger segment.How the EDIFACT FINPAYmessage worksMultiple interbank funds transfer: who sends it,where it fits and what the directory marksmandatory1 WHERE IT FITSUSUALLY FOLLOWSPAYMULMultiple payment orderFINPAYSENDERFinancialinstitutionRECEIVERAnotherfinancialinstitution or aclearing systemCONTRL syntax report back, if agreedUSUALLY FOLLOWED BYCREMULMultiple credit advice2 WHAT DIRECTORY D.21A REQUIRESInterchange: sender and recipient IDs(UNB … UNZ)Message FINPAY (UNH … UNT)START OF MESSAGEBGMBeginning of messageDTMDate/time/periodBODY AND SEGMENT GROUPSMandatory group SG3 · repeats upto 9,999LINLine itemMandatory group SG4 · repeatsup to 5FIIFinancial institutioninformationMandatory group SG6 · repeatsup to 4MOAMonetary amountMandatory group SG12 · repeatsmany timesSEQSequence detailsMandatory group SG13 ·repeats up to 4FIIFinancial institutioninformationMandatory group SG16 ·repeats up to 4MOAMonetary amount+ required CNT and 15 conditional groups,starting with:RFFFIIFCAINPGEIPAINADPRCMOAAUTBlue box: mandatory segment group. Conditionalgroups are listed by the trigger segment thatstarts them; a group is sent only when its dataapplies. Conditional segments outside groups arenot drawn.Structure: mandatory segments and groups in theUN/EDIFACT directory D.21A listing for FINPAY.Your trading partner's implementation guide adds itsown requirements.

How to read this diagram: the top row shows who sends FINPAY, to whom, and which messages usually come before and after it. The lower part shows what the directory D.21A itself requires: the envelopes around FINPAY and the segments and segment groups it marks mandatory. Conditional groups are listed by their trigger segment rather than drawn in full. This is the directory's minimum, not a trading partner's requirement: a message implementation guide, such as an industry subset or a partner’s own guide, usually makes some conditional groups mandatory, restricts the codes and may use an older directory.

Expand diagram Download SVG

When it is used

  • Transferring funds between banks for customer payments
  • Submitting payments to a clearing system
  • Settling batches of payments between institutions

Where it fits in the message flow

Usually follows PAYMUL Multiple payment order
This message FINPAY Multiple interbank funds transfer
Usually followed by CREMUL Multiple credit advice

Structure

Mandatory segments in FINPAY (directory D.21A)

In UN/EDIFACT directory D.21A, the FINPAY message has 109 segment positions arranged in 32 segment groups. These are the segments and segment groups marked mandatory at message level, in order; a mandatory group is shown with the segment that starts it. Segments inside conditional groups are needed only when the group is used. This is the directory’s requirement, not your trading partner’s: each partner’s message implementation guide names the directory it uses, often an older one such as D.96A or D.01B where the structure can differ, makes some conditional segments mandatory and restricts the codes.

  • UNH
  • BGM
  • DTM
  • SG3 (LIN)
  • CNT
  • UNT

Practical example

FINPAY in practice

A bank receives PAYMUL files from corporate customers with payments to beneficiaries at other banks. It groups the payments by receiving bank and sends FINPAY messages through the clearing system. The receiving banks credit their customers' accounts and send them credit advices.

Implementation

Implementation considerations for FINPAY

  • Follow the clearing system's rules and formats.
  • Preserve remittance references from the customer order.
  • Reconcile interbank settlements with customer orders.
  • Check whether the clearing system has moved to ISO 20022.

How ECOM helps

Automate FINPAY with ECOM

Industry

Financial Services

Secure file transfer and B2B integration for banks and financial institutions.

Solution

Financial Document Automation

Automate invoices, remittances, payment files and bank statements from capture to posting.

Solution

EDI Integration

Exchange X12 and EDIFACT documents with partners and integrate them directly with your ERP.

Compare X12 and EDIFACT, or see answers to general questions in the EDI FAQ.

Related messages

Related finance messages

All 37 finance messages

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