AccountSwitchRequestBalanceTransferV06 (AcctSwtchReqBalTrf)

Scope

The AccountSwitchRequestBalanceTransfer message is sent by the new account servicer to the account servicer which previously held the account to request the transfer of the closing balance. This may be addressed to the new account or an alternate account nominated by the new account servicer.

Usage

If an Alternate Credit Account is not specified and the closing balance of the old account was positive then the payment of the outstanding balance should be made to this account. D. NominatedAccount Alternate beneficiary account for a payment made from the old account servicer to the new account servicer in the case of a positive closing balance of the old bank. E. BalanceTransfer Information that enables the receiving bank to reconcile the payment with the request. F. SupplementaryData Additional information that cannot be captured in the structured elements and/or any other specific block.

Outline

The AccountSwitchRequestBalanceTransferV06 MessageDefinition is composed of 6 MessageBuildingBlocks:

Message Identification — Unique identification for the message.
Account Switch Details — Contains information about the details of the account switch.
New Account — Details of the new account set up with the new account servicer.