Outgoing Faster Payment - PACS 004 - Payment Return

PACS 004 Payment Returns provide the credit union with the ability to return payments for a variety of reasons.  

In the system, there are multiple ways to create a PACS 004 Payment Return:

• When creating a new PACS 004 payment, the “Find Payment” function can be used to find and populate the return wire.

• When creating a new PACS 004 payment, the return details can be manually entered.

• When reviewing the Incoming Faster Payment, a “Create Return” button can be clicked.

• If a CAMT 056 Return Request was received, the return can be initiated using the Respond button on the CAMT 056 payment detail.  

The steps below describe returning a wire from the Create Faster Payment screens.

All optional steps are marked Optional at the beginning of the step.

Section 1 - Wire Detail

1. Navigate to Money Movement

2. Click the Faster Payments tab

3. Select Outgoing Faster Payment

4. Click Create New Payment

5. Enter the Bank Identification number for the Instructed Agent (typically a routing number)

6. If a Pre-Authorized Template will be used, select from dropdown

7. Select Business Function Code PACS 004

   1. To auto-fill information, select the Find Payment button to auto-fill the Original Transaction fields

      1. Find Payment tab defaults to Incoming

      2. Provide filtering information in the column headers to narrow results

      3. Click the radio button of the wire to return

      4. Click Apply Selected

8. Select Type Code

   1. Will auto-fill as FDNA - Fednow

9. Provide the Amount - amount the Originator/Debtor has instructed to be sent

10. Click Next Step

Section 2 - Debtor

1. Select Originator/Debtor type:

   1. Organization

      1. If provided, include Business Identification Code (BIC) - may use the BIC Search button to auto-fill information

      2. Name - complete if BIC information is not utilized

         1. If provided and/or required by the wire instructions, optional additional identification information may be provided by clicking the Add Identification checkbox

         2. If provided and/or required by the wire instructions, optional address information may be provided by clicking the Add Address checkbox

   2. Person

      1. Name - complete

         1. If provided and/or required by the wire instructions, optional additional identification information may be provided by clicking the Add Identification checkbox

         2. If provided and/or required by the wire instructions, optional address information may be provided by clicking the Add Address checkbox

2. Provide Account Information 

   1. Account Identification

      1. May be an account number or other form of identification

   2. Account Identification Type (optional)

      1. In most cases may be BBAN - BBAN Identifier

      2. Other options:

         1. AIIN - Issuer Identification Number

         2. IBAN1 - International Bank Account Number

         3. CUID - CHIPS Universal Identifier

         4. UPIC - UPCI Identifier

         5. Account Identification Type Proprietary - enter custom type

      3. Optional - If provided and/or required by the wire instructions, optional additional identification information may be provided by clicking the Add Additional Information checkbox

3. Optional - Provide Initiating Party information

   Used only when different from Debtor; party that initiates the payment the credit transfer on behalf of the debtor

   1. Click the blue dropdown arrow to select, and then provide information

      1. Provide Name, Address, and additional Identification, as noted by wire instructions

4. Optional - Provide Ultimate Debtor information

   Ultimate party that owes an amount of money to the (ultimate) creditor

   1. Click the blue dropdown arrow to select, and then provide information

      1. Provide Name, Address, and additional Identification, as noted by wire instructions

5. Click Next Step

Section 3 - Final Credit

1. Receiving ABA/Instructed Agent

   Confirm this number is correct before proceeding. This will be the routing number for the FI receiving the payment.

2. Creditor Agent

   1. If the same as Receiving ABA, select the Same as Instructed Agent radio button

      1. If selected, information will auto-fill

   2. Identification

      1. If provided, include Bank Identification Code (BIC) - may use the BIC Search button to auto-fill information

      2. Legal Entity Identification (optional) - may include if provided by payment instructions, legal entity identifier of the financial institution

         1. If provided and/or required by the payment instructions, optional address information may be provided by clicking the Add Address checkbox

3. Creditor

   1. Select Beneficiary/Creditor type:

      1. Organization

         1. If provided, include Business Identification Code (BIC) - may use the BIC Search button to auto-fill information

         2. Name - complete if BIC information is not utilized

            1. If provided and/or required by the wire instructions, optional additional identification information may be provided by clicking the Add Identification checkbox

            2. If provided and/or required by the wire instructions, optional address information may be provided by clicking the Add Address checkbox

         3. Person

            1. Name - complete

               1. If provided and/or required by the wire instructions, optional additional identification information may be provided by clicking the Add Identification checkbox

               2. If provided and/or required by the wire instructions, optional address information may be provided by clicking the Add Address checkbox

            Provide Account Information

            1. Account Identification

               1. May be an account number or other form of identification

            2. Account Identification Type (optional)

               1. In most cases may be BBAN - BBAN Identifier

               2. Other options:

                  1. AIIN - Issuer Identification Number

                  2. IBAN1 - International Bank Account Number

                  3. CUID - CHIPS Universal Identifier

                  4. UPIC - UPCI Identifier

                  5. Account Identification Type Proprietary - enter custom type

               3. Optional - If provided and/or required by the wire instructions, optional additional identification information may be provided by clicking the Add Additional Information checkbox

4. Optional - Ultimate Creditor

   The ultimate party to which an amount of money is due

   1. Click the blue dropdown arrow

      1. Select Ultimate Creditor type:

         1. Organization

            1. If provided, include Business Identification Code (BIC) - may use the BIC Search button to auto-fill information

            2. Name - complete if BIC information is not utilized

               1. If provided and/or required by the wire instructions, optional additional identification information may be provided by clicking the Add Identification checkbox

               2. If provided and/or required by the wire instructions, optional address information may be provided by clicking the Add Address checkbox

         2. Person

            1. Name - complete

               1. If provided and/or required by the wire instructions, optional additional identification information may be provided by clicking the Add Identification checkbox

               2. If provided and/or required by the wire instructions, optional address information may be provided by clicking the Add Address checkbox

5. Click Next Step

Section 4 - References

1. Optional - Provide Creditor Reference

   1. Optional - Select Purpose for Wire, or create custom Purpose for Wire Proprietary

Section 5 - Review

Once all sections have been completed, the User will review all payment detail. If any errors are detected at this time, the User may update the information from this screen or go back and navigate through all screens to make the correction(s).

After wire entry has been reviewed, click Create.

A second User will need to verify the payment return.