Make a IPFX payment

• Permission to create an Foreign Exchange(FX) trade
• Permission to attach settlement instructions

Speak to your Administrator if you don't have these permissions.

• Make international and same currency payments
• Transact using your foreign currecy accounts
• Enter into new FX transactions

1. On the dashboard, select Make a payment and then Enter payment detail
2. If you're choosing an Existing Beneficiary first select the Payment Currency from the drop down. Otherwise, you can select New Beneficiary 
3. You have the Option to fund from an Existing same currency account if you have one setup with CommBank and linked to CommBiz. Alternatively, select Debit Currency from the dropdown menu
4. Add the amount you want to pay by selecting Payment Amount or Debit Amount.
   
   Note:
   – Payment Amount is the amount paid in the currency you want to send. Please also ensure you select currency you are debiting
   – Debit Amount represents the amount that will be deducted from your account
5. Add the Reference for your beneficiary (such as their invoice or beneficiary number)
6. Select the Purpose of the Payment from dropdown
7. Select Add, or if you want to setup multiple payments, select Add & Enter Next Payment then repeat the above steps

If you’re adding multiple payments in different currencies, note the cut‑off time options below.

• The next available date is already calculated based on the currency cut-off and public holidays in both Australia and the beneficiary currency.
• If you have setup multiple payments in different currencies and the cut-off time has passed for one of those currencies, the rest of your payments will not occur until the next available date.
• Setup individual payments if you wish to process payments before currency cut-off time.

1. Select First available date, or select Schedule payment and select a future date from the calendar
2. If you choose a future date, you will have to schedule using a new or existing forward exchange contract
   
   Note: If multiple authorisers are required, remind them to complete their authorisation before the relevant currency cut-off times.

• Choose from an existing FX contract, or
• Create new FX trades to apply an exchange rate for the transaction

Fund from an existing or new FX trade

• Select Apply FX Rate against the trade you want to use for the payment
• Under Action you can pre-deliver an existing FX contract to fund the payment, or 
• Alternatively, you can select Create New FX Trade on this page to source the current exchange rate for the transaction

Whether you're pre-delivering, extending or creating a new trade, a pop-up box will appear where you can action your trade depending on your transaction requirements

1. To apply a new trade, select Create New FX Trade. The total amount will automatically populate to match your payment. Alternatively select Pre-deliver to use an existing FX contract. You will need to enter the amount to pre-deliver
2. Add Trade Notes for your reference details
3. View the FX rate by selecting Request Quote. The rate will refresh every 6 seconds and time out after 30 seconds, select Request Rate again if it times out
4. Select Accept & Execute when you are ready to proceed
   
   Note: The currency conversion may go to Dealer Intervention., when this happens please wait for the next instructions on the screen.
5. Once you have created a new FX trade or pre-delivered your FX contract, select the white checkboxes next to the trade to fund your payment.
   
   Note: All FX trades must be settled by the currency cut-off time on the value date. If trades are unsettled, CommBank can choose to close out the trade. Refer to the Foreign Exchange PDS for further information.
6. Select Add, then repeat steps 1 – 6, if you need to fund multiple trades in other currencies
7. Review the Beneficiary Summary pane. You'll know when the trade is fully funded when you see the green tick. If it is not fully funded, the outstanding balance will be shown in red, and you must Apply or Edit FX rate
8. Once all trades are funded, select your settlement method from the drop-down menu
9. The Settlement amount will then be auto populated, allowing you to type in Your Reference details, then select Confirm
   
   Note: If required, you can choose multiple Debit accounts to fund the transaction 
10. Otherwise, select to Submit which will send the trade for authorisation 
11. Select the Next button to take you to the Trade Details screen, where you can Download Confirmations, View the Status History or proceed to Authorisation

If you’re adding multiple payments in different currencies, note the cut‑off time options below.

• The next available date is already calculated based on the currency cut-off and public holidays in both Australia and the beneficiary currency.
• If you have setup multiple payments in different currencies and the cut-off time has passed for one of those currencies, the rest of your payments will not occur until the next available date.
• Setup individual payments if you wish to process payments before currency cut-off time.

• Pending authorisations are displayed after you submit your payment, which is explained in the above steps for "Apply FX trade and request rate", or
• You can find Authorisations on your IPFX dashboard.

When you're ready to authorise your trade, proceed with:

1. Review your IPFX dashboard
2. Select the checkboxes next to each trade you want to action
3. Add your CommBiz security credentials to either Authorise or Reject the payment