Instant Payments
Instant payments allow individuals and businesses to transmit funds that clear and settle within seconds between US bank accounts at different US-based financial institutions. Cross River (CR) uses both the RTP via TCH and FedNow instant payment networks.
A credit transfer via API call must include at least:
- The account number funding the transfer
- The transfer amount
- The creditor account number and routing number at the receiving bank
Instant Payments APIs are found in the RTP module of our COS sandbox.
@ with Cross River APIs.
This table presents Instant Payments APIs that we describe in detail.
Action | API Call | Description |
POST /v1/payments | Sends a single Instant Payment | |
GET /v1/directory | Returns a list of instant payment-related services that are supported by a specific financial institution |
Money amounts in API calls and responses are written without a decimal point between the dollars and the cents.
Originates an instant payment credit transfer.
An instant payment credit transfer sends funds from your account to the recipient account in real time. A credit transfer can be sent from a master account, a deposit account (DDA), or an associated subledger.
Cross River cannot know how another financial institution displays to their customers the information transmitted with the Originate a payment message. Contact the receiving FI directly to learn more about fields in their banking portal or on their bank statements.
Returns a list of instant payment-related services that are supported by a particular financial institution. If the bank supports both TCH and FedNow instant payments, the call returns service codes for each network
For FedNow, an FI must register each RTN separately. An FI can have some but not all RTNs registered for FedNow.
Add query parameters to filter the response the API returns to all GET calls.
Use Pagination to control presentation of your results.
Event Name | Description |
Rtp.Payment.Sent | RTP payment has been successfully sent to the receiving institution and the funds are available in the receiver's bank account |
Rtp.Payment.Received | Inbound payment has been received from another institution and has successfully posted to an account in COS |
Rtp.Payment.Rejected | Payment has been rejected by the receiving institution or RTP Network. The payment originated from an account with insufficient funds. |
Rtp.Payment.Canceled | Payment was canceled at the request of the partner or a payment with a status of ResearchRequired has been canceled |
Rtp.Payment.ResearchRequired | No response was received for an outbound payment, manual research is required to determine if the payment should be completed or canceled |
Rtp.Hold.Escalated | A hold relating to either an outbound payment was marked for escalation by a member of the Operations team. Commonly this is used to indicate additional documentation or action is needed by the partner. |
Rtp.Refund.Requested | Request has been received to refund a previously accepted credit transfer |
Rtp.Payment.Queued | The receiving institution is offline. The payment will be processed when the receiving institution is back online. |
Rtp.Limits.Utilization.Changed | This webhook fires when the percentage of successful transfers hits 5%, and fires again every time the transfer interval goes up 5% (at 5%, 10%, 15% and so on). |