Collecting funds via FEDwire
Clients can now collect funds via FEDwire.
You’ll find a list of frequently asked questions below.
Why would I use FEDwire over ACH?
FEDwire is credited same day but is usually more expensive. It is usually used for higher value, time critical payments. ACH is next day (unless under $25,000) but is cheaper. It is usually used for lower value payments.
Where can I collect funds from?
We can receive FEDwire payments that originate from any of our permitted jurisdictions.
When will I receive my funds?
If we receive the funds by 09:30 in New York, we will credit your account same day. After 09:30 the funds will be credited next day.
What account number should I use?
You’ll need to use your virtual account number. If you don’t have a virtual account number you’ll need to get one set up with us before you can use FEDwire.
What is the routing number?
The routing number is 026073008.
What is the address I should use on the payment?
Please use the beneficiaries address when submitting the payment via your bank. If you are funding your own account, please use the address on that account.
Are there any limits for FEDwire?
No, our system has no limits on incoming credits via FEDwire.
What information will I see via the Sender API?
The sender information (within the “sender” tag) will contain (in a comma separated list):
- ID Code and Identifier (the letter “D” for ‘demand deposit account number’ followed by the account number – e.g. D0123456789)
The reference on the payment will appear in the “additional_information” tag.