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 SSA. When establishing or changing IDD bank data
for Latvia, you can use an SSA system (i.e., Modernized Claims System (MCS), Manual
Adjustment Credit and Award Data Entry (MACADE), etc.). However, you must go to ITS.gov to enter the full IBAN and Society for Worldwide Internet Financial Telecommunication-Business
Identifier Code (SWIFT-BIC). Latvia is a Single Euro Payment Area (SEPA) country.
Do not code the RTN in ITS.gov, as ITS.gov will propagate this information. If the complete bank account information is not
in ITS.gov when the payment processes, the payment rejects and returns to SSA. When using ITS.gov, bank data posts to the MBR within four business days.
For Latvia, the SWIFT code must be 11 alphanumeric characters:
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First four characters - bank code (only letters);
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Next two characters - ISO 3166-1 alpha-2 country code (only letters);
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Next two characters - location code (letters and digits) (passive participant have
"1" in the second character); and
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Last three characters - branch code, optional ('XXX' for primary office) (letters
and digits).
1. Initial award processing
Secure the full IBAN and SWIFT-BIC coding from the beneficiary at the time of filing.
If you are working on an initial award, you must updateITS.gov using the bank account information prior to processing the award to ensure that the
beneficiary receives his or her payment. If the complete bank account information
is not in ITS.gov when the payment processes, the payment rejects and returns to SSA.
NOTE: If there is dire need or hardship involved, tell 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 the initial claim.
2. Adding or updating bank data using SSA systems
You must enter the full IBAN and SWIFT-BIC bank information into ITS.gov on the same day if you use an SSA system to add or update bank data on the MBR (i.e.
Post Entitlement Online System (POS), MACADE, etc.). Enter all POS direct deposit
changes according to normal procedures. When coding IDD bank data in an SSA system
for Latvia within four business days of the current operational month (COM) cutoff
date, use the procedure outlined in the following chart:
STEP
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ACTION
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1
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Are you coding an initial claim?
If yes, go to step 3.
If no, go to step 2.
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2
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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 Euro account in Latvia? If no, STOP.
REASON: Beneficiaries in Latvia can only receive IDD payments in Euro accounts.
If yes, go to step 4
|
4
|
The RTN is 660000013 for all IDD to Latvia. SSA and FRBKC have designated 66 as the multi-country prefix
for Latvian IDD. The 3 in the RTN represents the U.S. check digit code for all IDD
accounts in Latvia. Therefore, there is no need to obtain the check digit code from
Title II Interactive Comps.
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5
|
Code the Type of Account as an “S” for savings or a “C” for checking. If no indicated
account type, use a “C” for checking account.
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6
|
Code the Depositor Account Number (DAN) for Latvia as follows:
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Start with a country code of G designated for Latvia
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•
Code the 13-digit Customer Account Number.
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7
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You must take action on the same business day to update the full IBAN and SWIFT into
ITS.gov Do not code the RTN in ITS.gov, as ITS.gov will propagate this information.
If you do not have access to ITS.gov, ask a co-worker who has access to update the required information into ITS.gov FRBKC will need all of this information in order to process the IDD payment. When
this information is not available, FRBKC will reject the payment and return it to
SSA.
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