2 Fedwire Maintenances
Fedwire Funds Service is a real-time, gross settlement (RTGS) payment system of USA. It processes each RTGS payment initiated by the Fedwire Member bank on an individual basis and settles it immediately upon receipt. Settlement of funds is immediate, final and irrevocable, as in a RTGS system in any other country.
Highlights of Fedwire Payments Module:
- Manual Payment Initiation
- Receipt of individual payment requests from bank channels
- Receipt of Bulk file for outward payments
- Fedwire network rules validation
- Derivation of Type Code and Sub-type Code in case of outgoing payment
- Sanctions check by interfacing with an external Sanctions screening system
- External Credit Approval Check
- Accounting
- Fedwire Message generation
- Multiple Network Cutoff times
- Fedwire business day spanning 2 calendar days
- Sending and receiving Service messages
- Incoming SWIFT to Fedwire Pass-through Transaction Processing
- Incoming Fedwire to SWIFT Pass-through Transaction Processing
- Support for Swift gpi