---
title: "Outgoing Faster Payment"
slug: "outgoing-instant-payment"
updated: 2026-08-03T14:32:33Z
published: 2026-08-03T14:32:33Z
canonical: "docs.corporatecu.com/outgoing-instant-payment"
---

> ## Documentation Index
> Fetch the complete documentation index at: https://docs.corporatecu.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Outgoing Faster Payment

Faster Payments in Beastro provide participating credit unions with access to the Federal Reserve's FedNow® Service, enabling the transfer and settlement of funds within seconds, 24 hours a day, 7 days a week, 365 days a year. Unlike traditional payment methods that rely on processing windows and cutoff times, instant payments offer real-time settlement and immediate funds availability between participating financial institutions.

## **Outgoing Faster Payments History**

To view historical outgoing wire 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.

| **Status** | **Description** |
| --- | --- |
| **All Statuses** |  |
| **Corporate Hold** | The payment is being held by the corporate |
| **Corporate Review** | The payment is under review by the corporate |
| **Extracted** | The payment is undergoing submission to the Federal Reserve Bank |
| **Rejected** | The payment has been rejected by another user |
| **Fed Rejected** | The payment has been rejected as it was being sent through the Federal Reserve Bank |
| **In Review** | Seen by the initiating User when the wire has been created |
| **Pending Approval** | Seen by Users that did not initiate the payment - indicates the payment is awaiting approval |
| **Post Error** | The payment was unable to post (ex. insufficient funds) |
| **Posted** | The payment has posted to the credit union settlement account |

Once the desired search information has been entered, a list of outgoing payments is displayed. The User may export the information to a PDF or Excel document by clicking the **Export to PDF** or **Export to XLSX** button.

To review information on individual instant payments, click on the **Instant Payment ID**. The individual information may also be exported via the **Export to PDF** or **Export to XLSX** button.

The Instant Payment detail screen displays more specific information about the payment, including;

- OFAC Status
- Payment Details
  - Member
  - Member Contact for verification
  - Business Function Code
  - Type Code
  - Effective Date
  - Amount
- Charge Details
- References
- Debtor
- Debtor Agent
- Creditor Agent
- Creditor

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 create a new Instant Payment, the user must navigate in Beastro to;

1. Navigate to **Money Movement**
2. Click the **Instant Payments** tab
3. Select **Outgoing Instant Payments** from the dropdown
4. Select **Create New Payment** in the top right of the page

Please review articles specific to each payment type for an understanding of each field.