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Payment notification feature of new Fedwire® Funds Service Customer Transfer Plus (CTP) message now available for wire transfers

January 15, 2012

The message format changes implemented on November 21, 2011, included a payment notification feature within the new Fedwire Funds Service Customer Transfer Plus (CTP) message. This feature utilizes field tag {3620} to allow a sending bank that is a Fedwire Funds Service participant to request an email notification from a beneficiary’s bank for a particular funds transfer when the beneficiary’s bank credits or otherwise pays the beneficiary.

To use payment notification, a financial institution must join the Payment Notification User Group (PNUG), which is a group of financial institutions that have agreed to use their best efforts to follow the Payment Notification Guidelines (PDF). To become a member of the PNUG, a financial institution must either be a Fedwire Funds Service participant or arrange to have a Fedwire Funds Service participant, who is a PNUG member, agree to act on its behalf.

For more information about payment notification, visit Fedwire Services or contact the Wholesale Operations Site that supports your district. To start using this service, visit Payment Notification User Group Setup or contact your account executive.

Announcement

A feature of the new Fedwire® Funds Service Customer Transfer Plus (CTP) message, field tag {3620}, Payment Notification, permits an originator (or the originator's bank) to request an e-mail from the beneficiary’s bank notifying it when the beneficiary’s bank has credited the beneficiary. To use payment notification, your institution must join the Payment Notification User Group (PNUG). For more information, visit Fedwire Services or contact the Wholesale Operations Site that supports your district.

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