Bank rails
Wires

Request and response codes

5min

Business function

Wire payments can be used to send funds or non-value messages to other financial institutions. The type of message is defined by the businessFunctionCode.

Code

Description

CTR

Customer transfer

SVC

Service message (non-value) between financial institutions

ID

In Wires calls, the idCode field in originator, beneficiary and various financial institution objects, specifies the type of value in the identifier field that follows it.

Code

Description

B

SWIFT Bank Identifier Code (BIC)

C

CHIPS Participant

D

Demand Deposit Account (DDA) Number

F

Fed Routing Number

T

SWIFT BIC or Bank Entity Identifier (BEI) and account number

U

CHIPS Identifier

1

Passport Number

2

Tax Identification Number

3

Driver’s License Number

4

Alien Registration Number

5

Corporate Identification

9

Other Identification

Type

The type code value provides information about the type of wire transfer sent. This value appears in the typeCode field in the response to wires payment calls, and is combined with a subtype code (see the subtype code table below).

Code

Description

10

Fund transfer

A transfer of funds in which the sender and/or receiver may be a bank or a third party, such as a bank customer.

15

Foreign transfer

A transfer of funds to or from a foreign central bank or government or international organization with an account at the Federal Reserve Bank of New York.

16

Settlement transfer

A transfer of funds between Fedwire Funds Service participants.

Subtype

A subtype code value combines with the type code value in the typeCode field of Wires payment responses to provide details about the transfer.

Code

Description

00

Basic funds transfer

01

Request for Reversal

02

Reversal of Transfer

07

Request for Reversal of a Prior Day Transfer

08

Reversal of a Prior Day Transfer

31

Request for Credit (Drawdown)

32

Funds Transfer Honoring a Request for Credit (Drawdown)

33

Refusal to Honor a Request for Credit (Drawdown)

90

Service Message

Payment statuses

See the payment status in the status field of Wires payment responses.

Status

Description

Created

CR received the payment, but hasn't yet started processing it.

In most cases, this status appears only briefly.

Pending

The payment is waiting to be batched and sent to the Federal Reserve.

Hold

Payment is being held and reviewed by our Ops Team, often as a result of awaiting a response from an OFAC scan. When a hold is placed, funds are removed from the available balance in the account.

A hold ensures that any subsequent payment won't cause this payment to fail.This API returns the payments on hold by ID.

Batched

The payment was batched and is in final review by our Operations Team before we send it in a file to the Federal Reserve.

Processing

For inbound payments, we are posting it to the receiving account.

For outbound payments, the payment was sent to the Federal Reserve, but hasn't yet been accepted by them.

Completed

The outbound payment was posted and accepted by the Federal Reserve.

This is a final status.

Canceled

An outbound payment was canceled at partner request. A payment can only be canceled while in the pending or hold statuses. A payment can be canceled after it's pending, only if it hasn't been executed. Use this API to cancel a payment by its ID.

This is a final status.

Rejected

Our Operations Team wasn't able to process the payment and rejected it. In the case of an inbound payment, the payment was returned to the originating bank. This is a final status.

Reversal

In some cases, a payment can be reversed after it was executed. Use this API to reverse a payment by its ID.



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Updated 29 Sep 2024
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