Incoming Faster Payment History
The Incoming Instant Payment screen provides the User with an area to review current and historical incoming instant payments.
The incoming instant payment screen is visible only with applicable permissions.
To view historical incoming instant payment activity, Users will provide searching and filtering information. Users may search and filter across the following column categories:
Instant Payment ID
Member - Your credit union
Debtor - Entity that originated the payment
Creditor - Final entity that will receive the payment funds
Creditor Agent/Instructed Agent - Final financial institution that will receive the payment funds on behalf of the creditor
Amount - Outgoing wire amount
Type - Business Function Code and Type Code
Effective Date - Effective date of the payment
Status - Current status of the payment
Returned - The return status of the payment
IMAD - Tracking number assigned by the Federal Reserve Bank
Entered By - Reflects the individual who entered the payment, as well as the date and time
Approved By - Reflects the individual who approved the payment, as well as the date and time
Sorting and filtering are available on all columns. Click the arrow next to the column header to sort the column. The orange arrow indicates which column is currently sorting the information. Search within a column by typing information into the Search box located just under the column header, or by utilizing the column dropdown, if available. To clear filters, click the x located in the search box, or click the Clear filters option at the top right side of the card.
Once the desired search information has been entered, a list of incoming wires is displayed. The User may export the list of wire information to a PDF document or Excel spreadsheet by clicking the Export to PDF or Export to XLSX button.
Users may confirm (or acknowledge) multiple incoming payments at once by selecting the check box in the far-left column and clicking the Confirm button that appears on the upper right corner once payments are selected.
Funds from incoming instant payments will post to the credit union’s settlement account automatically when posted. Should your credit union need to take action on an instant payment (return, respond, etc.) action buttons will be available at the bottom of the incoming payment detail screen.
Faster Payment roles and monetary limits must be assigned to a user by a User Administrator via an Access Request. Roles and monetary limits for Faster Payments are as follows:
Roles
Faster Payment Authority – allows full access to view and initiate faster payments and pre-authorized faster payment templates
Faster Payment Verify Authority – allows faster payment verification
Faster Payment View Only – allows view only access to inbound and outbound faster payments and faster payment templates
Monetary Limits
Faster Payment Limit – total amount of faster payments that may be originated in a day
Faster Payment Pre-Authorized Limit – total amount of faster payment templates that may be originated in a day
Faster Payment Verify Limit – total amount of faster payments or payment templates that may be approved in a day
To review the incoming instant payment information, click the instant payment ID. Information in the incoming instant payment detail screen can also be exported by clicking the Export to PDF or Export to XLSX button.
Incoming Faster Payment Actions
Incoming Payment Detail will contain the detailed information of payment received, sometimes including a General tab and a Related Payments tab.
The General tab will include fields such as:
Wire Details
Main information
Original Information - included if the message is related to another Payment
Charge Details
References
Remittance information
Creditor
Creditor Agent
Debtor Agent
Debtor
The Related Payments tab will include any payments associated with the request/response. The payment ID hyperlink can be clicked via this screen to take you to the related payment.
Some actions may be available at the bottom of the payment detail screen, depending on the type.
Value Message: Related to an actual fund transfer
Non-Value Message: A request or response type related to another payment or message. May include request for returns of funds, drawdown requests or responses to other messages.
Actions available may include
Confirm Receipt: Marks the payment/message complete, indicating it has been acknowledged.
The payment will post to the credit union settlement account regardless of this button being utilized.
Create Return: Will generate a new message to return the incoming payment; information in the return will be automatically filled in.
Close Request: Marks a request completed and changes status to Closed.
Respond: Creates a new message to respond to a related payment.