Welcome to the Consumer Data Right Support Portal

Check out our guides, browse through our FAQs, and post your own questions for Support.

New to the Consumer Data Right? Learn more

Scheduled Payment Convention Follow

Comments

4 comments

  • Avatar
    Rajat Dey

    Scheduled Payments are  forward dated payments that are supposed to debit the account at some point in the future. How far back to we go to retrieve these for a given account? Do we just return forthcoming payments to the ADR?

    0
    Comment actions Permalink
  • Avatar
    Jarryd Judd

    Hi Rajat Dey,

    It is at the discretion of the bank how to represent these items. Ultimately, the bank should align with how these types of payments are represented in other channels. 
     
    The Data Standards Body wouldn't expect historic scheduled payments to be returned, only active and ongoing payments the bank has scheduled.

    Thanks,

    -Jarryd

    1
    Comment actions Permalink
  • Avatar
    Rajat Dey

    Thanks Jarryd Judd for your response. 

    Just one more point to clarify. In the definitions (explanations) above, the word 'recurring' has been emphasised. Would a one time future dated payment be also considered as a scheduled Payment ? after-all a single payment also provides visibility to ADRs on the future state of the account. 

    0
    Comment actions Permalink
  • Avatar
    Jarryd Judd

    Rajat Dey a response to your query (you should have received a notification as well)

    Yes a single future dated payment would be considered a scheduled payment.   The recurrence union in the scheduled payment structure has a onceOff variant specifically to accommodate this scenario.

    Thanks,

    -Jarryd

    0
    Comment actions Permalink

Please sign in to leave a comment.