Holds
System validations may trigger the following hold types:
Type | Reason | Applies to | Clearing method |
|---|---|---|---|
Beneficiary Account | The beneficiary account number in the payment did not match an account in COS | Inbound | Automated, Manual |
Beneficiary Title | The beneficiary name in the payment did not match the beneficiary account title | Inbound | Automated, Manual |
Catchy Scan | Some of the payment details potentially matched information within our fraud prevention database | Inbound, Outbound | Automated, Manual |
Collected Funds | The core was unable to successfully collect funds for the payment from the originator’s account | Outbound | Automated |
Duplicate Suspect | Some of the payment details matched a payment that has been processed within the same business day | Inbound, Outbound | Automated, Manual |
Inbound International | Some of the payment details indicate that the payment is an international transaction | Inbound | Automated, Manual |
Internal Review | The payment was originated by an internal user via the COS Explorer portal | Outbound | Manual |
Manual | Miscellaneous hold placed on a wire | Inbound, Outbound | Manual |
OFAC Scan | Some of the payment details potentially matched information within the OFAC database | Inbound, Outbound | Automated, Manual |
Outbound International | Some of the payment details indicate that the payment is an international transaction | Outbound | Automated |
Authorization | The amount of the wire requires one or more approvals. One or more partner users must access COS Explorer to clear the hold. | Outbound | Manual |
Phone Confirmation | The payment was originated by an external user (partner) via the COS portal and must be processed using the Bank’s callback verification procedure | Outbound | Automated, Manual |
Travel Rule | The payment is missing some information that is required by the FinCen Travel Rule | Outbound | Automated |
Wires must achieve a pending status to be eligible for distribution.
This happens when either:
- The validation process did not trigger any holds, or
- All triggered holds were manually cleared by a user.
System validations may trigger the following hold types:
Type | Reason | Applies to | Clearing method |
|---|---|---|---|
Catchy Scan | Some of the payment details potentially matched information within our fraud prevention database | Inbound, Outbound | Automated, Manual |
Collected Funds | The core was unable to successfully collect funds for the payment from the originator's account | Outbound | Manual |
Contested Return | The RDFI attempted to return this payment to you but the return was not made properly | Inbound | Manual |
Dishonored Return | Dishonored Return | Inbound | Manual |
Internal Review | A payment was manually originated by an internal user via the COS Explorer Portal | Outbound | Automated, Manual |
Manual | Miscellaneous hold placed on an ACH by an internal user | Inbound, Outbound | Manual |
OFAC Scan | Some of the payment details potentially matched information within the OFAC database | Inbound IATs, Outbound IATs | Automated, Manual |
Phone Confirmation | A payment was manually originated by a partner user via the COS Partner Portal | Outbound | Automated, Manual |
PO Box Address | The payment has an IAT SEC code and address indicated in the payment contained a PO Box | Outbound | Manual |
Requested Return | We have received a request from another Financial Institution to initiate a return but need to investigate it | Inbound | Manual |
Unknown Account | The receiver account listed in the ACH entry details does not match an account within COS | Inbound | Manual |
Unmatched NOC | The ACH entry details do not match an ACH entry which was previously submitted to the Fed | Inbound | Manual |
Untimely Return | The return we received was outside of the window allowed by NACHA | Inbound | Manual |
Untimely Unauthorized Return | The unauthorized return we received was outside of the window allowed by NACHA | Inbound | Manual |
