Payment transactions

what is a transaction in cross river cos, a transaction is the action of funds being deposited into or withdrawn from a bank account if funds are transferred between two cross river accounts, a transaction in cos always involves a debit of one account and a credit of another account, completed as a single simple operation a completed transaction may be referred to as posted , cleared or settled docid\ ewmez1pigcrbtne1tvziw transaction completed webhook event cross river cos ensures you know when the funds are debited or credited using the core transaction completed webhook the exact timing of when the webhook event is triggered depends on the payment rail and other factors for outbound payments, the core transaction completed webhook event fires as soon as the transaction posts to the account, and regardless of whether the payment has already arrived successfully at the receiver's account or not instant payments as seen in the docid\ ady9akdnxl8fhhlro5o1d , the core transaction completed webhook event fires at the end of the flow, together with the instant payments docid\ ffgq2ohyebwpzn2old6mc webhook event because instant payments happen almost immediately, payment sent and transaction completed happen more or less together when the payment settles international payments the docid\ o9fuc2dkpczcl1h4yichr webhook event fires at the end of the flow, together with the international payments docid\ o9fuc2dkpczcl1h4yichr webhook event the transaction completed and payment returend happen more or less together when the payment settles ach in ach, settlement happens at different times in the docid\ rqqtpgcfu3hqrgmqmuerm , depending on several factors direction is it an inbound or outbound payment? transaction type is it a push (credit) or pull (debit)? payment type is it an origination, return, or notification of change (noc)? effective date is it dated for today or sometime in the future? contractual cutoff time was the outbound payment request received by crb before the cutoff time? there is a single scenario where an outbound payment will not settle on your account the same day it is originated this occurs when the payment transactiontype is pull , and the servicetype is sameday , and the effectivedate of the payment is equal to the current date, and the payment is released to the fed after 4 45pm "individual" posting type when your configuration with cross river causes cos to treat each ach transaction you send as an individual payment, the response to the payment api includes the postingtype individual in this case, settlement always happens after the payment is acknowledged by fed the docid\ avrvavzdk7hc0ufxn6xz9 webhook event is triggered when the payment settles in the cross river account "aggregate" posting type when you send multiple ach payments, your configuration may cause the system to transact many payments sent from the same originating account payments as a single sum the response to a payment call includes the postingtype aggregate payments are aggregated with similar payments all payments in an aggregate settle together as a single amount docid 0papbzybjf0lzpac8 trw and docid 0papbzybjf0lzpac8 trw payments are aggregated in two separate groups, and pull payments are aggregated separately from push payments in general, aggregated push payments settle when the payments are batched for sending to the fed, not after they are sent and acknowledged the docid\ avrvavzdk7hc0ufxn6xz9 webhook event is triggered at that point in the flow aggregated pull payments settle like individual pull payments and the docid\ avrvavzdk7hc0ufxn6xz9 webhook event is triggered when the payment is acknowledged by the fed or just after wires as seen in the docid\ r5em5zsqcenn70giaiwst , in outbound payments, the core transaction completed webhook event is triggered when the payment message is ready to be sent to fedwire at this point, cross river settles the payment in the originating account for inbound payments, the core transaction completed webhook event is triggered when the payment passes compliance validation you won't know about inbound payments until they are posted