BankingTransaction Descriptions Schema and Enums

Question

For the Banking Transaction schema, specifically around the schema and the include enumerated values. The PAYMENT value  - should this this used for

• A payment specific to a loan/debt?
• Any payment into an account (eg cash or transfer)?
• A "payment" may also have a type of transfer_outgoing or transfer_incoming?

There is potential for multiple transaction codes to be associated with a transaction and for these to be returned to the consumer in multiple methods.

Answer

In regard to your questions on enums you refer to the 'PAYMENT' value but not the field you're referring to.  As 'PAYMENT' can be a value of 'feeType' or 'type' in transaction this is ambiguous but, based on the rest of your question, I assume you are referring to transaction type. 

To answer the three questions: this is entirely up to the Data Holder.  The Standards do not specifically call out how to select these transaction types for specific transactions as ledgers and internal processes are so variable.  When the type field was introduced (at the explicit request of ADRs) there was a good deal of debate on this topic with the result being the field would be introduced with a minimum number of values that would be relatively common across all ADIs.  The only guidance that can be provided is to apply best efforts and be consistent with your other channels.

See Banking Transaction