COS Explorer tutorials
Wires
Originate drawdown
what you will learn ✅ how to originate a wire drawdown request (also known as a reverse wire) you can also use the drawdown request docid\ dorha8h1ksr9 m ct3ac endpoint to perform this task via api if you are new to wires we recommend you read the wires docid\ hfnmqa22w2bnqajijpavt before starting this tutorial before you begin make sure you have cos explorer process overview to send an outbound wire drawdown request , also known as a reverse wire which involves requesting someone to send funds back to you, as the requester to request a drawdown click the wires tab click originate wire to open the originate wire payment screen enter the business function code the business function code erves as an identifier that indicates the nature and intent of the wire transfer transaction within the banking system drc the designated code to use specifically for drawdown requests in the originate wire screen, enter the information into the fields field description business function code business function code ( required ) you must select drc originator account # originator account number this is your account # receiver routing # receiver routing number the routing number where the drawdown request will be sent for example, chase or bank america purpose purpose of drawdown request amount dollar amount of drawdown request beneficiary identifier identifier type for the beneficiary you must select d and enter your account number as you will be receiving funds beneficiary name account holder (beneficiary) name beneficiary address \[1 3] account holder (beneficiary) address beneficiary fi identifier identifier type for beneficiary financial institution (fi) select f fed routing number enter the 9 digit routing number for cr beneficiary fi name beneficiary financial institution name fill in the details of cr as we are sending the request on your behalf beneficiary fi address \[1 3] beneficiary financial institution address fill in cr's address drawdown credit account number enter 9 digit cr routing number or 9 digit number of bank originating drawdown request drawdown debit account id code enter d (demand deposit account) drawdown debit account number the account number of the party who is being sent the request (whose account will be debited) drawdown debit account name the name on the drawdown debit account identifier drawdown debit address 1 3 the full address of the person who receives the request for funds click originate wire to process the drawdown request a new screen with the text success! wire created opens click view wires to see drawdown request details