Once you have sent the collection to the bank, the workflow is as follows:

1. The corporate sends the Collection schedule/covering letter, together with the documents, to their bank.
2. The bank will authorise the collection, adding its Remitting Bank Reference.
3. The bank creates its own schedules and sends these with the documents to the collecting/presenting bank, and updates the transaction workflow to “Documents Dispatched”.
4. The bank then updates the status to “In order” or “Refused” as appropriate.
5. If In Order, the bank updates the collection to one of: Paid; Accepted; or Cancelled. The bank may attach documents in the system at this point.
6. A Collection that has been Accepted can be amended to Paid subsequently if required.