Payment Allocation, Repayments and Overpayments: IRIS: Automatic Payment Allocation rules on the D/E Masterfile
Where a payment posted to the D/E Masterfile results in an overpayment, the system will automatically
- clear the charge or instalment(s) to which the payment relates
- for charges other than Schedule E, apply the Handle Excess Payments (HEP) procedures explained at DMBM210275
for Schedule E charges, allocate the excess amount paid to the Overpayments Account (OAS). DMB Banking receive notification daily of payments allocated to OAS. They consider how any excess payment allocated to OAS should be handled by taking one or more of the following actions:
- Review the customer’s record
- Liaise with the Processing Office or Debt Pursuit Office
- Liaise with the customer.When they have determined how the payment should be handled they will deal with any resulting allocation or repayment manually.