Remittance Advice (TCH)

Remittance Advice use case for TCH.

This scenario describes the end to end processing of a remittance advice message which can be initiated by a creditor or debtor client, and will correspond to a Credit Transfer or Request for Payment message which will be processed at the same time. The remittance advice is sent to the initiating financial institution (FI), forwarded to the clearing and settlement mechanism (CSM), and passed to the receiving FI. Once the remittance advice is validated and correlated to the related transaction by the receiving FI, it sends a status confirmation to the CSM, which in turn sends a status confirmation to the initiating FI. The receiving FI can be configured to send a notification to the receiving client.

Remittance Advice high-level sequence diagram

The following figure shows the high-level sequence diagram for the remittance advice use case:
Figure 1. Remittance Advice - high-level sequence diagram
fxrfnctoverviewtchremittanceadvicehighlevel.png
In the figure, FTM for Immediate Payments provides the process required for the Sender FI and Receiver FI lifelines.

For details of processing, see Sender FI Outgoing Remittance Advice (TCH) and Receiver FI Incoming Remittance Advice (TCH).