This document provides an overview of Treasury Prime’s implementation of domestic & international USD wire transfers. It serves as a reference for both requirements and feature capabilities.

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International Wires (USD)

Currently, Treasury Prime can support the initiation of international USD wire transfers to overseas beneficiaries. Access to this feature is gated by a fintech-level platform setting allow_international_wires.

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Required Bank Inputs

ActionDescription
Correspondent BankIf required, provide the partner financial institution for Treasury Prime to specify as the sender FI within the FedWire instructions {3400} tag.
Fed File CustomizationsIf the originating bank has any requirements that deviate from the standard Fed wire file format, they must provide those specifications before implementation kickoff. This might include setting additional data to set in the {4200} or {6500} fields.
Intermediary Mappings (optional)BIC/SWIFT code mappings are optional. Treasury Prime will use this information to populate intermediary bank details upon wire object creation, substituting the SWIFT code for an ABA routing number instead.
Input/Output Message Accountability DataBanks that support international wires must return IMAD/OMAD data to Treasury Prime for outgoing wires. This data will be exposed to our fintech partners via the API.

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High Level Description of International USD Wires

  1. Fintech leverages Treasury Prime’s API to create a counterparty. Required
    information includes account details, BIC/SWIFT code, and address information. See below for details on validations that occur during this step.
  2. After counterparty creation, fintech creates a wire object. The purpose field
    is required when creating an international wire.
  3. Treasury Prime generates a wire file that complies with the standard FED wire file spec.
  4. The Fed wire file is sent to the originating bank. The file will be dropped in the standard SFTP directory designated for wire use during bank wire hours. International wire transactions will be included along with domestic wire transactions in the same file.
  5. The bank will process the FED wire file and send out the wire.
  6. Fintech can follow the wire lifecycle by referencing wire status via the API.
  7. The originating bank generates a confirmation file and provides it to
    Treasury Prime via the standard SFTP directory. This file must include IMAD data. If possible, the file should also include OMAD.
  • If a wire gets stuck along the way (for example, if a beneficiary claims non-receipt or they are returned), we can leverage the Fed Ref (IMAD) for outgoing wires to facilitate the investigation.
  • If an international wire is returned, it will follow the same process that Treasury Prime supports for domestic wires.

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Validations Overview

  • Address Validation: Treasury Prime does not perform any address validation. It is the responsibility of the fintech to ensure that they correctly populate the address sub-object with the appropriate address.
  • Screening of Sanctions List: This is the responsibility of Treasury Prime’s banking partners.