How do we set up the payment to be AutoFX and not ACH.

Summary:

We have tried to set up a test AutoFX payment to JP Morgan and they have rejected it as the payment type was sent as ACH and not AutoFX.

Content (please ensure you mask any confidential information):

JPM have sent us the following details:

US AutoFX Wire: These are non-USD wire payments issued from your JPM USD accounts, paid to financial institution accounts outside the United States. Payments are routed to JPM’s Foreign Exchange back office where a fixed daily exchange rate between USD and your payment currency is applied, and the payment re-routed to either CHIPS or into the SWIFT payment network (for non-CHIPS participants financial institutions). US AutoFX wires also allow you to control charges to your Debit Account by using the <InstrForDbtrAgt> tag valued ‘/FXEQUIV/’ to control the amount charged to your Debtor USD account, while the Creditor receives an ‘equivalent’