Payment types

a transfer is a new payment originating from either cross river or another bank transfers can either be domestic or international both inbound and outbound international wire transfers in cross river go through a domestic intermediary bank via fedwire domestic only us domiciled banks are involved in the transfer when a wire payment is accepted and acknowledged by the federal reserve, an input messaging accountability data (imad) is assigned to the payment this can be used to track the payment via the fedwire funds transfer system international an intermediary us domiciled fi sends to or receives the funds from the fed both inbound and outbound international wire transfers in cross river go through a domestic intermediary bank via fedwire in addition, to send or receive international wires in usd, you must contact the beneficiary bank to obtain the appropriate wire transfer instructions outbound wire transfer initiate the wire transfer via the send a wire transfer api or originate wire in cos explorer the wire transfer may or may not require authorization no authorization is required if the transfer is less than 1,000,000 usd, regardless of whether the transfer is initiated by api or in cos explorer authorize transfers in authorization (2 approvers are required) if both the transfer is initiated by api the transfer is between 1,000,000 and 5,000,000 usd dollars the cross river wires operation team calls the wire initiator if either of these cases apply the transfer was initiated using cos explorer for more than 1,000,000 usd dollars the transfer was initiated using the api for more than 5,000,000 usd once authorized, the wire transfer is sent only wires sent using the api can be approved by approvers set up in advance in cos explorer d rawdown request request someone to send you funds using a drawdown request this is basically a request for funds to be sent initiate a drawdown request using one of these methods originate a drawdown request api you can also follow our tutorial for originate a drawdown request originate drawdown in cos explorer provide your customer with the details below to send to the recipient of the drawdown request cross river account number cross river routing number ( #021214891 ) cross river bank address ( 885 teaneck road, teaneck, nj 07666 ) drawdown response when cross river receives a drawdown request, we respond by wiring the money that was requested to the bank account specified see our respond to a drawdown request api see our respond to a drawdown request tutorial service message a non value message sent from one bank to another for informational purposes only reversal a reversal of a previously sent wire transfer