• Fedwire

The ultimate sophistication for processing Fedwire payments

An API-enabled, modern, award-winning solution for increasing the efficiency and security of domestic and international wire transfers.
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State-of-the-art wire processing 

 
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Multi-channel support  

Support wire initiation through APIs, files, branches and online channels, including Finzly's Experience Hub. 

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ISO 20022 compliance

Enjoy out of the box compliance to messaging standards from ISO 20022, saving you from piecemeal migrations.

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Automation for STP

Fully automate processing and enjoy cost benefits, back-office efficiency and straight-through processing. 

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Configurable workflows

Take full control of wire processing using configurable workflows and event-driven approvals.

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End-to-end processing

Returns, reversals, drawdowns and refusals automated end-to-end, increasing efficiency of processing.

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Bulk file support

Support for wire transfers using bulk files in Fedwire or native Finzly CSV format in addition to other channels.

FAQs

What is the Fedwire service?

Fedwire is a real-time gross settlement system operated by the Federal Reserve Banks that provides clearing and settlement services for high-value interbank transactions. It allows financial institutions to quickly and securely transfer large sums of money between each other in real-time.

How does Fedwire work and what is the process for a wire transfer?

In a Fedwire transfer, the sender's bank initiates the transfer and sends a payment instruction to the Federal Reserve Bank, which then forwards the payment instruction to the recipient's bank. The recipient's bank credits the funds to the recipient's account, and the transaction is complete. The entire process is completed in real time and the funds are transferred almost instantly. 

What are the advantages of using Fedwire for wire transfers?

There are several benefits of using Fedwire, including: 

  • Real-time, reliable and irrevocable transfers
  • Increased operational efficiency and reduced operational risk 
  • Ability to make large-value transfers 24/7/365 
  • Ability to send and receive transfers with financial institutions in the United States and abroad
  • Increased security through the use of Fedline, the Federal Reserve Banks' secure network for transmitting Fedwire transactions
How do I initiate a Fedwire transfer?

Fedwire transfers can be initiated through a financial institution's Fedline access device or through Fedline Web, the Federal Reserve Banks' secure web-based application. You must have a Fedwire account at a Federal Reserve Bank and be authorized by your financial institution to initiate Fedwire transfers. 

What types of transactions can be sent via Fedwire?

Fedwire is primarily used for large-value, time-critical transfers, such as the transfer of funds between financial institutions and government agencies. Fedwire can also be used for the transfer of securities and other financial instruments. 
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