Effective Dates: 01/16/2024 - Present Previous | Next

TN 251 (01-24)

GN 02402.367 Coding Monaco Bank Data on the Master Beneficiary Record (MBR)

 

A. Background for coding Monaco bank data

This section describes how to code bank data for international direct deposit (IDD) of Title II benefits to a financial institution (FI) in Monaco. We store IDD bank data on the MBR in the same fields used for United States (U.S.) direct deposit.

Special coding identifies the data as a Monaco direct deposit. This allows us to route benefit payments through the Federal Reserve Bank of Kansas City (FRBKC) and the processor bank in Monaco to the beneficiary's local FI.

If you receive an IDD request in a U.S. domestic (i.e, non-border) field office (FO), forward all appropriate information to the Office of Earnings and International Operations (OEIO), Division of International Operations (DIO) to process.

For detailed instructions on IDD requests and forwarding information, see

  • •

    GN 02402.201 Background and Policy for Direct Deposit Outside the U.S.

  • •

    GN 02402.205 Direct Deposit Enrollment Outside the U.S.

  • •

    GN 01010.255 Adjudication of Foreign Claims

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    GN 01702.310C Routing of Claims for U.S. Benefits Involving Totalization

B. How we receive IDD bank data

We receive requests to input bank data by mail, phone, or fax in the following formats:

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    Blank check;

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    SSA-1199-OP37 International Direct Deposit Signup Form for Monaco; or

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    Any document that contains the required banking information.

If you receive information with discrepancies, see the following instructions:

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    GN 00203.020 Identity of Claimants

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    GN 02402.025 Direct Deposit Post Entitlement Interview

C. Multi-country contract

The processing FI in Monaco has a prefix of "71" at the beginning of the Routing Transit Number (RTN). The first letter of the Depositor Account Number (DAN) field has the letter “E” assigned for Monaco.

D. Overview of IDD for Monaco

IDD payments sent to Monaco must be in Euro accounts at local FIs. The beneficiary must provide complete information to DIO or the Federal Benefits Unit (FBU) for input. DIO faxes incomplete forms to the FBU that serves Monaco. The FBU contacts the beneficiary or FI for additional information.

E. Description of Monaco IDD bank data

The data for coding IDD for Monaco will come from the International Bank Account Number (IBAN) provided to the beneficiary from his or her FI. The IBAN is 27 characters. However, the bank data reflected on the MBR consists of 25 characters. Technicians will use the IBAN to derive the RTN and DAN when processing an IDD request.

 

F. Procedure for coding Monaco bank data

The FRBKC relies on SSA to provide the complete bank data to ensure correct posting of payments to a customer’s account. If the information is incomplete, the FRBKC rejects the payment and returns the funds to our agency.

You may establish or change IDD bank data for Monaco using an SSA system (i.e., Modernized Claims System (MCS), Manual Adjustment Credit and Award Data Entry (MACADE)).

You must then go to ITS.gov to enter the following data:

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    first and last name of the beneficiary

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    payee indicator

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    enrollment status

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    country

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    account type

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    account ownership

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    International Bank Account Number (IBAN)

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    Society for Worldwide Internet Financial Telecommunication-Business Identifier Code (SWIFT-BIC)

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    beneficiary address

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    reclamation country

1. Obtain SWIFT-BIC code from the FI

The SWIFT code consists of 8 to 11 alphanumeric characters. When an eight-digit code is present, it refers to the primary office:

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    First four characters - bank code (alpha only);

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    Next two characters - ISO 3166-1 alpha-2 country code (alpha only);

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    Next two characters - location code (alpha and numeric) (passive participant have "1" in the second character); and

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    Last three characters - branch code, optional ('XXX' for primary office) (alpha and numeric).

2. Process initial award

Secure IBAN and SWIFT-BIC coding from the beneficiary at the time of filing. The FBU inputs an initial IDD claim if the beneficiary elects the option of direct deposit. All initial IDD claims that an FBU takes for Monaco require input into ITS.gov and an SSA system (i.e., MCS, MACADE, etc.) on the same day. You must complete all initial claims that the International Benefits Office (IBO) takes. All initial claims taken by the IBO involving IDD for Monaco also require input into ITS.gov and an SSA system (i.e., MCS, MACADE, etc.) on the same day.

NOTE: If there is dire need or hardship involved, advise the beneficiary of the option of initiating payment via a paper check. Inform the beneficiary that the bank may charge for cashing the check. If the beneficiary chooses the option of paper check, the FBU documents and processes the initial claim.

3. Add or update bank data using SSA systems

When you add or update IDD bank data using an SSA system (e.g. Post Entitlement Online System (POS), MACADE), you must:

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    update ITS.gov on the same day;

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    enter all POS direct deposit changes according to normal procedures;

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    use procedures outlined in the following chart when processing within four business days of the current operational month (COM) cutoff date.

Step

Action

1

Are you coding an initial claim?

If yes, go to step 3.

If no, go to step 2.

2

Is the beneficiary's address on the MBR in a foreign country (PCOC = 8)? If no, STOP.

REASON: The MBR does not accept the IDD information unless the address is in a foreign country.

If yes, go to step 3.

3

Is the beneficiary's account a U.S. dollar account in Monaco? If yes, STOP.

REASON: Beneficiaries in Monaco can only receive IDD payments in Euro accounts.

If no, go to step 4.

4

Code the RTN (9 digits total) as follows:

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    Start with 71, the prefix SSA has designated for IDD to Monaco.

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    Code the 5-digit bank code.

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    Code the first digit of the 5-digit the branch code.

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    Code the one-digit check code, which you will obtain through Title II Interactive Comps.

NOTE: The final digit is the U.S. check digit code and is subject to change. Obtain check digit code through the Title II Interactive Comps from the Main Menus 07/Sub Menu 16.

5

Code the account type:

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    “S” for savings, or

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    "C" for checking.

If the beneficiary does not indicate an account type, use a “C” for checking account.

6

Code the DAN as follows:

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    Start with a country code of “E” designated for Monaco

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    Code the last four digits of the five-digit branch code.

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    Code the last 11-digit Customer Account Number.

7

You must take action on the same business day to enter into ITS.gov all the information listed in GN 02402.367F.

You must access ITS.gov or ask a co-worker to update the required information into ITS.gov.

REMINDER: When information is not available, FRBKC rejects the payment and returns it to our agency.

G. Example of coding Monaco direct deposit

The customer provides us with a signup form for Monaco containing the following information: IBAN MC1112739000700011111000H79.

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    The first characters of the Monaco IBAN are “MC,” which represents the International Organization for Standardization (ISO) country code.

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    The third and fourth characters of the IBAN are the IBAN check digit. The technicians should never code the IBAN country code or check digit to the MBR.

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    The next five characters of the IBAN represent the five-digit bank code.

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    The next five characters represent the five-digit branch code.

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    The next 11 characters of the IBAN represent the 11-digit account number.

1. Derive the RTN

The technician enters the information for the RTN.

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    Code the prefix of 71;

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    Code the five-digit bank code “12739”;

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    Code the first digit of the five-digit branch code “0”;

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    Code the one-digit check code (i.e., 6) (obtained from the Title II interactive Comps from the Main Menus 07/Sub Menu 16); and

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    Code the type of account as a “C” for Checking or an “S” for Savings. If no account type indicated, use a “C” for Checking.

2. Derive the DAN

The technician codes the DAN.

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    Start with a country code of “E” designated for Monaco;

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    Code the last four digits of the five-digit branch code “0070”; and

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    Code the 11-digit account number “0011111000H”.

3. Obtain the following information

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    RTN: 711273906

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    Checking

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    DAN: E00700011111000H

a. POS reflects the direct deposit information

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    DIRECT DEPOSIT ROUTING TRANSIT NUMBER: 71273906 ACCOUNT TYPE (C/S): C

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    DEPOSITOR ACCOUNT NUMBER: E00700011111000H

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    CANCEL DIRECT DEPOSIT (Y):

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    DIRECT EXPRESS (Y):

b. The MBR reflects the following information

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    RTN- 711273906

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    DAN- E00700011111000H

H. References

  • •

    GN 00203.020 Identity of Claimants

  • •

    GN 01010.255 Adjudication of Foreign Claims

  • •

    GN 01702.310C Routing of Claims for U.S. Benefits Involving Totalization

  • •

    GN 02402.025 Direct Deposit Post Entitlement Interview

  • •

    GN 02402.201 Background and Policy for Direct Deposit Outside the U.S.

  • •

    GN 02402.205 Direct Deposit Enrollment Outside the U.S.

  • •

    ITS.gov International Treasury Services (U.S. Treasury system)

 

To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0202402367
GN 02402.367 - Coding Monaco Bank Data on the Master Beneficiary Record (MBR) - 01/16/2024
Batch run: 01/29/2024
Rev:01/16/2024