Signing/Submitting Real Estate Payments

The Sign/Submit function enables authorized users to submit approved real estate payment transactions to the Bank for processing. Transactions with a status of ‘Ready’ can be submitted.

The Real Estate Payments service uses Digital Signatures to provide verification to the Bank that the signed file came from the person who they were expecting to send it and that it was not altered since it was signed.

Real estate payments can be submitted to the Bank 24 hours a day. However, to ensure that funds are paid to your Beneficiary on time, you must send your payment instructions to Scotiabank before 4:00pm EST.

To Sign/Submit your Real Estate Payments:

1. On the Pending Real Estate Payments screen, press the Sign/Submit button. The Real Estate Payment Confirmation screen will appear, displaying all transactions that are in ‘Ready’ status.

Note: If the Value Date of a transaction is no longer valid, the transaction will be flagged with an Error. You can click on the Reference Number of the transaction to view a complete error message. To return to the Pending Real Estate Payments screen to update the Value Date, press the Cancel button.

2. You can sign a number of transactions at once. The first group of transactions that can be signed will automatically be selected. If there are any transactions that you do not want to submit to the Bank, deselect by clicking on the check box next to the transactions, under the Select column.

3. Press the Sign button at the top of the Real Estate Payment Confirmation screen. You will be asked to digitally sign the transactions by entering your password. This is the same password that you use to log in to ScotiaConnect.

4. Enter your login password and press the Submit button. Once the data has been successfully signed, the Real Estate Payment Summary screen will confirm the total payments that have been signed, total Future Dated payments and total Sent payments. Sent payments will be executed today. Future Dated payments will be held at the Bank and processed in time to meet the requested execution date.

5. Press the Done button.

a) If there are no more transactions to be signed:

· You will return to the Pending Real Estate Payments screen.

b) If there are additional transactions to be signed:

· You will return to the Real Estate Payment Confirmation screen. Repeat steps 2 – 5 to sign the remaining transactions or press the Cancel button to return to the Pending Real Estate Payments screen.

6. The real estate payments that have been submitted to the Bank will no longer be listed on the Pending Real Estate Payments screen. These transactions can now be found on the Real Estate Payment History screen.

Signing/Submitting Real Estate Payments

Related Topics