Creating ISO Wires > How to Return a Wire - ISO Pacs.004 > Return an Inbound Wire in a Completed State

FRB Regulations for Returned Wires

The Return Chain in a pacs.004 must identify all parties/FIs involved in the pacs.004 return payment; these parties/FIs should be identified by their role in the pacs.004 and not by their role, if any, in the original pacs.008 or pacs.009 message.

For more information, see https://www.frbservices.org/resources/financial-services/wires/faq/iso-20022/format.

How to Return an Inbound Wire in a Completed State

This section explains how to create a manual Payment Return wire (Pacs.004) for a received Customer Credit Transfer wire (Pacs.008 or Pacs.009) that is in a "Completed" state, with the following Local Instrument Codes.

Pacs.004-Pacs.008: Customer Payment Return			Replaces FAIM
	Local Instrument Code		Business Function Code	Type Code
	CTRC	Core Customer Transfer	CTR, CTP	1002, 1008
	CTRD	Customer Drawdown Transfer	DRW	N/A
	CTRS	Special Account Customer Transfer	CTR, CTP	1002, 1008

Pacs.004-Pacs.009: Financial Institution Payment Return			Replaces FAIM
	Local Instrument Code		Business Function Code	Type Code
	BTRC	Core Bank Transfer	BTR, CKS, DEP, FFS, FFR	1602, 1608
	BTRD	Bank Drawdown Transfer	DRW	N/A
	BTRS	Special Account Cover Payment	CTP	1502, 1508
	COVC	Core Cover Payment	CTP COVS	1502, 1508
	COVS	Special Account Cover Payment	CTP COVS	1602, 1608

1.Print a Wire Snapshot of the wire you want to return by clicking the <Print> button in the Actions column.

2.Copy the IMAD from the wire that is being returned:

3.Click the <+New Wire/Template> button.

4.In the Preliminary Information field group, select the Department, Function, and Local Instrument.

5.Paste/enter the IMAD from the wire being returned in the Previous Message Identifier field, then click <Next>.

. PreliminaryInformation2

The Instructing Agent is defaulted with your institution information.

6.Enter the Instructed Agent information and Amount (the Instructing Agent from the wire snapshot).

Debtor

7.Enter the Debtor Account Number, Name, Address, and Party Identification (the Creditor from the wire snapshot).

Your core may auto-populate data when you select an account-name combo.

Party Identification for international wires triggers a Dodd Frank notice.

Creditor

8.Enter the Creditor Account Number, Name, Address, and Party Identification as needed (the Debtor from the wire snapshot).

Town Name and Country fields are required; the other address fields are optional.

Debtor Agent

These values are defaulted from the Instructing Agent fields. Unless you originate wires for other financial institutions, this will always be your institution information.

Creditor Agent

These values are defaulted from the Instructed Agent fields.

If the BICFI is entered, the Member Identification Type should be set to “None,” and the Creditor Agent Name and address fields are not required.

9.Enter the Creditor Agent Address information. Town Name and Country are required; the other fields are optional.

Ultimate Creditor

10.If the Creditor is receiving the wire on behalf of another party, enter the Ultimate Creditor Name, Resident Country, and Ultimate Creditor Address information. Town Name and Country are required if provided (the Ultimate Debtor from the wire snapshot, if present).

11.Enter any additional information in the Additional Ultimate Creditor Identification fields. Up to two identifiers can be entered.

Return Reason Information

12.Select the Return Reason Type and enter Initiating Party Name, Resident Country, and Initiating Party Address (optional – Town Name and Country are required).

The Initiating Party is the party requesting the return. This could be the debtor or the wire operator name at the institution that decided to return the wire.