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ISO 20022 Wire Payment Delivery Channel

edited Apr 1, 2020 9:06PM in Payables, Payments & Cash Management 6 comments

Summary

BofA will not accept a value in the Local Instrument Code tag (Delivery Channel), Oracle requires it

Content

When processing a Wire payment using the ISO20022 Common Global Implementation Format we are getting conflicting  information from Oracle and Bank of America on the Delivery Channel field/ <LclInstrum> <Cd>

BofA specs say this field is only required for ACH payments, but when leaving Delivery Channel blank at the Supplier site level, during payment processing the validations end in an error "The value Payment delivery channel is required"

Does anyone have experience with ISO20022 files and BofA, both FX and USD?

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