Return requests
What you will learn
✅ How to ask another bank to return funds you sent, and how to respond when another bank asks you to return funds. Both actions are performed in COS Explorer from the payment screen.
Learn about Wires.
Before you begin
Make sure you have:
Creating a return request and responding to one are controlled by separate permissions. Request access through your usual role process.
Process overview
A return request is a message asking the bank that received a wire to send the funds back.
It is a request, not a reversal. Nothing moves until the receiving bank agrees and sends a return.
Both actions start from the payment tasks list in the right-hand pane of the wire. Mandatory fields are flagged with a red marker.
In both flows you choose a code from a drop-down and add a narrative. The code tells the other bank the category. The narrative tells them what actually happened. The code on its own is rarely enough for the other bank to act on, so use the narrative properly even when the code looks self-explanatory.
To create a return request
Use this when you sent a wire that needs to come back, for example a duplicate, a wrong amount, or a wire sent to the wrong beneficiary.
Select the wire payment for which you want to request a return
Navigate to the relevant wire transaction, typically an outbound wire for which a return is being requested. The Return Request task appears only on an outbound wire, in Completed status, of type Transfer.
Click Return Request. A pop up appears.
Choose a Reason Code
Reason Code | Reason Type | Description |
|---|---|---|
AC03 | Invalid creditor account number | The wire went to the wrong beneficiary account, for example because of a typo or an outdated account number. Ask for the funds back so you can resend to the correct account. |
AGNT | Incorrect agent | A bank in the payment chain was wrong, for example the wrong beneficiary bank or the wrong intermediary routing. Use it when the problem is the bank, not the beneficiary's account. |
AM09 | Wrong amount | The amount sent doesn't match what was agreed or expected. Use it when the whole wire needs to be pulled back and resent at the right amount. |
CUST | Requested by customer | The originating customer (the debtor) asked to cancel the payment, for example because they changed their mind or the deal fell through. Nothing went wrong on the bank side. |
CUTA | Cancel upon unable to apply | An investigation request was already raised for this wire, and the problem can't be fixed any other way. Returning the funds is the only option left. |
DUPL | Duplicate payment | The same payment was sent more than once. Ask for the extra copy back. |
FRAD | Fraud | The wire was initiated fraudulently, for example after an account takeover, a business email compromise or a scam. Asking quickly gives the best chance of getting the funds back before they move on. |
NARR | (other) Narrative | No other code fits. Explain the reason in the additional information field (up to 210 characters), which is required for this code. |
TECH | Technical problem | A system or processing error produced an erroneous wire, for example an automation fault or a file processed twice by mistake. |
UPAY | Overpayment | The payment wasn't owed or justified, for example a payment made in error or a payment for an invoice that was already settled. |
Add a Narrative
The narrative is mandatory for every reason code. Maximum length is 210 characters. Provide the essential information first: what went wrong and exactly what you are asking the other bank to do.
Submit the request
There is no approval step, and there is no way to withdraw the request once submitted.
To respond to a return request
For an incoming return request, click Respond to Return Request in COS Explorer from the list of payment tasks in the right-hand pane.
Select an incoming return request
Navigate to the incoming return request message itself, not to the original inbound wire you received. The task appears on the return request record.
Click Respond to Return Request. A drop-down menu appears.
Choose an option.
Each option has specific input requirements.
- Full Return of Funds Select this option if the full amount can be returned. You must initiate the payment return using the "Reverse Wire" functionality after responding to the return request.
- Partial Return of Funds Enter the partial amount that will be returned. You must initiate the partial payment return using the "Reverse Wire" functionality after responding to the return request. The amount cannot exceed the amount requested. The screen shows the requested amount above the field for information.
- Pending Return of Funds
Use this when you have received the request but have not yet decided. No amount and no reason code are required. It tells the other bank the request is being worked on, without committing to a return.
- No Return of Funds Select one of the following reasons from the drop-down menu:
Reason code | Reason type | Description |
|---|---|---|
AC04 | Account closed | The account number specified is closed on the Receiver's books |
AC06 | Account blocked | The account number specified is blocked on the Receiver's books |
AM04 | Insufficient funds in the account | There are not enough funds available to cover the specified message amount |
ARDT | Funds already returned | The return request isn't accepted because the transaction was already returned |
CUST | Customer declined the return | The return request cannot be accepted because of a customer decision (Creditor) |
INDM | Hold Harmless Required | The return request cannot be accepted until indemnification is received |
NARR | Other (see narrative) | Use only when the other options don't apply |
Add a Narrative
The narrative is limited to 210 characters and is optional. It is recommended to provide a narrative- a code with not narrative may not provide the receiver with enough information and may a follow-up query.
Narrative is mandatory when the reason is NARR.
For code INDM the narrative is filled with the standard hold harmless wording, including the fax number for sending the signed letter. It is filled only if the narrative is still empty, so if you typed something first it is left alone. If you then switch to a different reason code, the standard wording is cleared.
Narrative is not available when the reason is ARDT, since a return that already happened needs no explanation.
For a partial return you have 170 characters, not 210. The system adds a sentence at the start stating the amount you are returning, which uses the remaining space. The counter on the screen reflects the shorter limit. The system adds "Partial return of {currency} {amount}." at the start of the narrative.
Send the response
Important: responding does not move any money
Answering Full Return of Funds or Partial Return of Funds tells the other bank what you intend to do. It does not return the funds.
To actually return the money, use Reverse Wire on the inbound payment as a separate step. For a partial return, enter the same amount you stated in your response. Reverse Wire is available on completed inbound transfers, and you can reverse part of the amount as long as the total across all reversals does not exceed the original.
If you stop after responding, you have promised a return that never happened. Complete the reversal as a second step every time.
This also matters for a later request on the same wire. If you receive a second return request and answer it with ARDT, already returned, the system looks for the reversal you sent and will not let you respond if it cannot find one. The response is rejected outright and cannot be sent.