XPay

Use XPay to transfer funds directly between 2 different partners inside the Cross River operating system (COS). Because you are transferring funds inside COS, the transfer happens immediately. Funds do not leave the bank with XPay transfers. A transfer can be a push or a pull.

Note

COS does not allow internal book transfers between 2 different partners to reduce the risk of transferring funds to the wrong party.

How XPay works

There are 2 payment flows in XPay:

  • Push

  • Pull

For both push and pull transactions, funds move between accounts under different partners, and are available immediately.

XPay configuration

For XPay transactions to complete, both the originating and receiving partners must have the appropriate pull or push functionality configured. By default, push functionality is turned on, with both Receive Push Enabled and Auto Approve Push set to Yes. Both Send Pull Enabled and Receive Pull Enabled are by default set to No for all accounts, meaning that pull is turned off. Contact your Onboarding or Relationship Manager to enable pull functionality.

If the sending partner doesn’t have XPay enabled, the payment fails. The sending partner receives a synchronous error message.

If the receiving partner doesn’t have XPay enabled, the payment fails. The sending partner receives an asynchronous error message.

Approvals

Approval of push transactions is enabled by default as part of XPay configuration. When enabled, all inbound XPay push transactions approve and post automatically.

For pull transactions there is no Auto Approve Pull, so funds will not leave your account with no warning.