Request and response codes

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 valid for b swift bank identifier code (bic) beneficiary financial institution objects d demand deposit account (dda) number originator beneficiary financial institution objects f fed routing number financial institution objects 1 passport number beneficiary 2 tax identification number beneficiary 3 driver’s license number beneficiary 4 alien registration number beneficiary 5 corporate identification beneficiary 9 other identification beneficiary 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 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 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