ISO 20022 · Billing compensation type
BACSBalance Compensable Services
Published definition
Total amount of service charges that can be offset by an earnings allowance credit. Such services carry a Payment Method code of ”Balance Compensable”. This amount is included in SettleChargeTtl-Current Period (AFP code 00 03 00). This value must be sent if the bank is providing an earnings credit based on deposit balances. AFP code=00 03 31
Code set and usage
Billing compensation type contains 22 registered codes. Its exact identifier is ExternalBillingCompensationType1Code.
Specifies the type of billing compensation to be applied, as published in an external billing compensation type code set. External code sets can be downloaded from www.iso20022.org.
Use the code with the applicable message version and implementation guide. A matching code value alone does not establish the same meaning in another set.