ISO20022 payments
5min
cross river's iso20022 payment channel provides you with a way to send all your instructions in one single file format (xml) the system processes input files from you, records financial movements, and sends payment status reports (psrs) as output files to update you about payment processing, rejections, and returns the input files must conform to the iso 20022 pain 001 001 03 and pain 008 001 02 standards, and the psrs conform to the iso 20022 pain002 001 03 standard cross river supports these payment methods (rails) ach ccd/ppd docid\ htbnipwi9pr0u5djwxr0z direct debit docid 9do0r7gsk3c0jersf4evs fedwire docid\ zjziz54nqtoifgkwjtmx book transfer docid 64d jmuzssorhycjjn53 rtp/fednow docid\ z03rqu0m gbschwbybcij the rails that you use for payment processing depend on your agreement with cross river the client support team sets up the rails during your onboarding process in this guide we'll explain how to create the files correctly and how to send them to cross river we've included examples of input files and psrs, together with explanations of their blocks and elements we've also included return statuses and error codes so you can understand what's happening with your files you can find detailed information about the iso 20022 message definitions on the iso site here reach out to support with any questions acknowledgment files containing initial processing information are normally available within minutes after that, cross river checks for updates based on rail type for ach cross river checks for returns and nocs once on the effective date provided in the response, then once a day for an additional 3 business days, and then once a week for up to 6 months corss river checks for processed, rejected and onhold statuses once on the effective date provided in the response, and then once a day for an additional three business days the checks happen at 20 00 for ach effective date is the day the payment came in, or the next business day if the payment came in after the cutoff time set in cos for wires cross river checks for status updates at 18 00 on the business day that the payment was supposed to be processed, and also at 18 00 on the business day after that for book transfers cross river checks for status updates every 30 minutes