FI to FI Customer Credit Transfer
FI to FI Customer Credit Transfer, also known as 'PayAway via Funds Controller', facilitates single currency cross-border payments between instructing participants and end beneficiaries in different countries.
Overview
FI to FI Customer Credit Transfer — also known as PayAway via Funds Controller — facilitates single-currency cross-border payments between instructing participants and end beneficiaries in different countries.
The service enables payments to foreign beneficiaries through Funds Controllers on the RTGS.global network. Funds Controllers are responsible for onward payment processing to the beneficiary account.
Process
- Initiate payment — Submit a payment instruction via the
PayAwayViaFundsControllerAPI - Platform validation — RTGS.global validates the request, creates a pending debit, and sends the request to the Funds Controller
- Funds Controller processing — The Funds Controller performs screening and debits the account
- Confirmation — RTGS.global updates balances, sends a
camt.054notification, and publishes apacs.002status update
Payment Status Notifications
Every status update for an FI to FI Customer Credit Transfer is published as a pacs.002 notification.
| ISO Status | Proprietary Reason | Description |
|---|---|---|
PDNG | — | Request is being processed |
ACSC | AcceptedSettlementCompletedDebitorAccount | Funds transferred across network |
ACWP | — | Accepted with change pending |
ACCC | — | Accepted and credit confirmed |
RJCT | Various | Request irrevocably rejected |