pain.001 and pain.002 in Depth

What You Can Do After This Chapter

Learning objective. Learner explains pain.001 and pain.002 in depth, describes the relay scenario, authorised party initiation, and financial institution initiation, and traces a payment to pacs.008. Learner uses real amounts, banks and message names to show how customer initiation works in practice.

Practical assessment. Learner receives a case where a corporation in Rotterdam must pay EUR 750,000 to a supplier in Vienna through a relay bank, then drafts the pain.001 file, the relay forwarding steps, the pacs.008 creation, and the pain.002 reports at each stage, including a rejection case with reason code AC01. Learner also explains authorised party initiation and financial institution initiation in a short comparison note.

Expected deliverables.

• pain.001 draft for the EUR 750,000 relay payment
• Relay flow diagram: customer, relay bank, debtor agent, creditor agent
• pain.002 reports for acceptance, settlement in process and settlement
• Rejection case note: AC01 correction and resend steps

Completion criterion. Learner drafts a correct pain.001 and pain.002 set for the EUR 750,000 relay payment, explains each status report, and handles the AC01 rejection correctly. and the comparison note is clear and accurate.