Electronic Re-Registrations - Target Bank Account details and Preferred Payment reference

SS&C GIDS have implemented a change and now support target bank account details and preferred payment references sent as part of an encashment request for all Fund Groups they administer.

A number of requests have been seen where a sort code and account number are being supplied but the ‘Payee Name' is being left blank, and this will stop SS&C from being able to make the payment to these details the request will be rejected. For these cases, the rejection reason will state ‘Target Bank Account has no Payee Name’ and you should add this detail and resubmit the request electronically.

For list of Fund Groups administered by SS&C please visit: https://distributorportal.co.uk/fund-groups and for the relevant connection details please see: https://distributorportal.co.uk/images/downloads/Re-Reg/Electronic-Re-Registration-Connection-Details.xlsx

If you have any questions on this communication, please email the DCS ADS Team at SS&C at DCSADS@sscinc.com