Reconciling deposits and withdrawals with CAMT.053/4 and PAIN.002
FA system can import and read CAMT.053, CAMT.054, PAIN.002 files in order to update and create deposits and withdrawals in FA system. FA can also read CAMT.053 in order to reconcile account cash balances, however this feature is not covered in this article.
CAMT.053 is an end-of-day account statement file that contains your nominee account balance and all transactions (not only those initiated from FA) that affected the nominee account balance since the last produced file. CAMT.054 is an intraday account statement with similar content except it does not contain the account balance. Usually, you decide with your custodian which file they provide (or both).
PAIN.002 is an intraday payment status file that contains status messages for direct debit collections and withdrawals. You receive PAIN.002 if you sent a PAIN.008 or PAIN.001 to your custodian. The file indicates that the whole PAIN.008 (PAIN.001) file or some transactions in it were rejected. See Import payment response files for Direct Debit from the bank for more information.
Reconciling deposits and withdrawals
You initiated deposits (PAIN.008) or withdrawals (PAIN.001) in FA and want to know if they succeeded or not.
When deposits and withdrawals are created in FA, and the appropriate decision tables are installed (see Set up payment instructions in FA Admin guide), they will receive end-to-end IDs created by FA. These are sent together with the PAIN.008/1 to your custodian, and will appear in the CAMT.053/4 and PAIN.002 files, once processed.
FA will attempt to match transactions within the CAMT.053/4 with deposits and withdrawals within FA, using the end-to-end ID, and update those to a completed status (adding a settlement date, and updating the tag to Payment-Matched)
The PAIN.002 will contain statuses regarding attempted direct debit collections and withdrawals. FA will check (using the end-to-end ID) if any deposit transactions within the PAIN.002 are marked as rejected and, if so, set them to a rejected status in FA (update tag to Payment-Rejected).
Your client made a payment to your nominee account, and you want it to automatically appear as a deposit in the client's portfolio in FA.
The CAMT.053/4 will also contain transactions that were not initiated in FA. Your client can make a payment to your nominee account using a specific reference that you inform them of, and the payment will appear in the CAMT.053/4 with that same reference. In Sweden, that reference could be an OCR, in Norway it could be a KID, etc. This reference should be configured on the client's portfolio in FA, under the IDs tab in a field PAYMENT_DEPOSIT. FA will attempt to find the client portfolio having that reference by checking the portfolios' ID tabs. If there is a match in a portfolio, it creates a completed deposit transaction in it, with the payment details from the CAMT file.
Importing
Manual file upload
Import manually by uploading the file in FA Back through Tools → Import file → Payment material… → Select CAMT053, CAMT054 or PAIN.002 → Choose file → Upload file → Confirm upload.
Automatic file upload
Import automatically by setting up an integration with your custodian(s), see Bank and custody connections in FA Admin guide.