How to set up settlement of GDP or EUR wire payments on ATB FX

The details required for the accurate settlement of wire payments via ATB FX change depending on the currency being traded.

When making a trade

  1. On the Transaction Details screen, under the Post-Trade Settlement Instructions heading:
    1. In the Delivery Details section, click +Add new to add a new beneficiary.
  2. Skip to step 3 below.

Outside of making a trade

  1. From the Home screen, click Settlement Instructions in the primary navigation.
  2. On the All Settlements Instructions screen, click +Add new.
  3. On the New Settlement Instruction screen, enter the required Settlement Instruction Details:
    1. Enter a Description; this must be unique for each set of instructions.
    2. The Version is applied automatically. New instructions start at Version 1. If you change the details in future, the Version number increases automatically
    3. The Status is applied automatically. When you create a new settlement instruction, the Status will default to “New”.
    4. Select the Currency Code of the currency you purchased or are purchasing for this transaction (e.g.“EUR - Euros”).
    5. Select the Type of transaction (“Transfer” or “Wire”). Transfer is between your own ATB accounts (CAD and USD only) and Wire is to external accounts.
  4. Enter the required Beneficiary / Recipient Details:
    1. Depending on your previous selections, some of the following fields may be filled automatically.
    2. Select a Country Code; this is where your beneficiary’s bank is located (e.g. “France"), which may differ from the country in which your beneficiary is located in, or the currency in which you are transacting.
    3. Select a Bank ID Type. This ensures you enter the proper Bank ID number; the recommended option for European banks is BIC (SWIFT).
    4. Enter the Bank ID number of your beneficiary’s bank, the format of which corresponds to the Bank ID Type selected previously.
    5. For BIC/SWIFT, click the Lookup button to help you find the correct banking information.
    6. Enter the Bank Name (optional).
    7. Enter the Bank Account Address. This is the beneficiary’s bank’s physical address; it should be listed on the wire information form/email your beneficiary provided but, if you don’t have it, contact your beneficiary, their bank, or find the address online; don’t use a post office box or leave the address incomplete.
    8. Enter the Account (number) of your beneficiary.
      • For certain destinations in Europe, the Middle East and the Caribbean, you will need to enter the IBAN instead. This is a standardized international bank code.
      • You can find tools to search for relevant bank code at https://bank.codes/
    9. Enter the Account Holder Name (this can be a personal or business name).
    10. Enter the Account Holder Address. This is the beneficiary’s physical address (vs. that of their bank). Don’t use a post office box or leave the address incomplete.
    11. Enter additional Payment Details (optional). These are meant for commercial transactions only; you might include, for example, an invoice number or other important information.
  5. The final section, Intermediary Bank Details, is not required (i.e. optional) and should only be entered if instructed by your beneficiary. If this happens, please call the ATB FX help desk for assistance at 1-855-282-3939.
  6. Click +Add new.
  7. You’re all done!

To learn more about the ATB FX, visit the ATB FX Help page.

The ATB Financial Markets team is here to make ATB FX work for you. Call 1-855-282-3939 or email financialmarkets@atb.com for any help you need.

 

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