AccountSwitchBalanceTransferAcknowledgementV06 (AcctSwtchBalTrfAck)

Scope

The AccountSwitchBalanceTransferAcknowledgement message is sent by the previous account servicer to the new account servicer in response to the AccountSwitchRequestBalanceTransfer message. It confirms the status of the old account and the balance of the account on closure. In the case of a negative closing balance, the old account servicer provides details of the nominated account to which payment should be made from the new account servicer.

Usage

In the case of a negative closing balance of the old account, and where the old account servicer wishes any payment from the new account servicer to be addressed to an alternate account, this will be specified here. F. SupplementaryData Additional information that cannot be captured in the structured elements and/or any other specific block. 06

Outline

The AccountSwitchBalanceTransferAcknowledgementV06 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.
Old Account — Account held at the old Account Servicer being switched to the new Account Servicer.
Old Account Balance — Balance of the old account.
Balance Transfer — Information that enables any payments made in connection with the fulfilment of an account switch to be reconciled by the relevant account servicer with the associated request.