Changelog

Sep 7th, 2022

Business function code exposed in wire transfer object

Improved

    The wire transfer object now contains the `business_function_code` that was present in the outgoing wire message sent to the FED. This can be useful to use along with the `type_code` and `subtype_code`.

Aug 29th, 2022

API for wire reversal now available

New

    We have released a new API that makes it very easy to reverse incoming wire transfers. If your platform has received a wire transfer in error, you can use our Wire Reversal API to initiate an outgoing transfer that sends back the funds to the financial institution that sent the original transfer. See these docs for more information.

Jun 2nd, 2022

On-us wire improvements

Improved

    The data returned in the on-us wire object is now at parity with a typical wire transfer between 2 different financial institutions. "On-us" means that both the ODFI and RDFI for the transfer is Column. Previously on-us transfers were missing some key information, such as the originator and beneficiary information. It's important to note that on-us wire transfers will still not have an IMAD or OMAD. The Federal Reserve plays a part in setting both IMAD and OMAD, and since the Federal Reserve is not involved in on-us transfers, these IDs will not be set.

May 18th, 2022

Settlement reports now available from the dashboard

Settlement reporting video0:23

Settlement reporting video
New

    We have added the ability to schedule and download settlement reports directly from the dashboard. Previously, these settlement reports were only able to be scheduled and downloaded via our API which required technical overhead to make these reports available to stakeholders. Now non-technical stakeholders can use the dashboard UI to generate their own settlement reports.

May 11th, 2022

International addresses for entities

Improved

    We now support international addresses when creating entities via our API. This unlocks the ability to create accounts for businesses and consumers with international addresses.

Apr 27th, 2022

API for ACH Reversal Now Available

New

    We have released a new API that makes it very easy to initiate an ACH reversal. If your platform has initiated erroneous or duplicated outgoing ACH transfers, you can use this API to reverse the ACH transfer. See these docs for more information.

Apr 15th, 2022

Settlement Reporting API Live

New

    We now offer a brand new API to schedule and generate on-demand settlement reports. These settlement reports provide structured data about your platform's accounts which greatly simplify workflows like internal accounting, generating customer statements, and regulatory reporting. These reports are customizable by date range and time zone, which means no more dealing with time zone conversions! We offer two types of settlement reports, which are available in .csv, parquet, and JSON formats.

    • Bank Account Summary- provides a row for each bank account and opening and closing balances across a date range.

    • Bank Account Transaction- provides a row for every transaction for all bank accounts across a date range.

    Check out these docs for more information.

Apr 12th, 2022

On-us ACH Debits Improvements

Improved

    We have made two changes to the behavior of outgoing on-us ACH debit transfers. "On-us" means that both the ODFI and RDFI for the transfer is Column.

    • On-us ACH Debits can now be submitted without knowing if there are funds in the receiver account. If there are no funds, then the RDFI will go through the same return process for NSF's as they would for a normal (non on-us) ACH debit on that account. More details here: https://beta.column.com/docs/ach/returns

    • Previously, outgoing on-us ACH debits would settle immediately if funds were available in the RDFI account. Now, they will follow the same rules as normal ACH debit transfers, with a two business day delay in funds availability.

    These changes maintain consistency and security for all Column accounts and ACH transfers.

Apr 5th, 2022

Company ID configurability

New
    • We now enable platforms to include their own company id when originating ACH transfers. Using a specific company id maintains continuity when migrating from other banking partners by reducing unauthorized returns. The company id is also often used for ACH positive pay. If you would like to use a specific company id in your ACH transactions, please contact us.

Apr 4th, 2022

ACH Transfer object improvements

New

    We have added a new field to the ACH object called payment_related_info, which provides an additional 80 characters to provide details on the ACH transaction on outgoing transfers. This is available on all SEC codes.

    • On incoming ACH transfers, we will surface payment_related_info in our ACH object, which we receive in the addenda.

    • Our goal is to enable you to configure all fields and expose all elements in an originated and received ACH file. If there are other addenda fields for specific SEC codes that you’d like to see supported, that we currently don't, we'd love to hear it! Please reach out.

Mar 21st, 2022

IAT information improvements for ACH Transfers

New
    • We have added an explicit iat sub-object for all IAT ACH transfers. An IAT is an ACH SEC code that is used for receiving internationally originated transfers. These are usually used as the domestic clearing leg in an international payment. They are considered a bit special according to the NACHA rules and have unique information associated with them - usually to help with OFAC screeing.

    • The iat object surfaces specific information pertaining to the foreign bank and transaction such as foreign_payment_amount, foreign_trace_number, odfi_branch_country_code, odfi_name, originator_city_state_province, foreign_correspondent_bank_info, and more! You can read more about IATs and see a complete list of fields in the documentation.

Mar 7th, 2022

Lending APIs are available in sandbox

New
    • We have made a new set of APIs for lending publicly available for our sandbox platforms. They're currently powering charge card and term loan production use cases. Please reach out if you think you have a need that fits and we can enable them in your platform.

    • These APIs are currently built around a charge card and term loan feature set. However, our plan is to expand their functionality to power other loan-oriented use cases this year. As we receive feedback from our customers, we will continue to make improvements and changes to these APIs before making widely available in production.

Mar 4th, 2022

IAT

New
    • We now have full support for receiving IAT ACH transfers.

    • If you are interested in originating IAT ACH transfers please reach out.

Mar 3rd, 2022

Wire transfer object enhancements

New
    • We have expanded the FedWire information we return in our wire transfer object such as beneficiary_account_number, beneficiary_name, originator_account_number, originator_name, imad, omad, and more! See the wire object documentation for a complete list.

Jan 14th, 2022

OFAC manual review, ACH processing enhancement, and more

New
    • OFAC Manual Review: Both incoming and outgoing wires which trigger OFAC alerts are blocked and require a manual review which Column will perform. The status will stay as PENDING_SUBMISSION until it's cleared.

      • Manual reviewed outgoing wires won't be instantly submitted to the Fed.

      • Manual reviewed wires won't be instantly settled.

Jan 5th, 2022

Webhook Events

The following webhook events have been deprecated and merged to their corresponding events:

  • ach.outgoing_return.initiated: deprecated, merged to ach.incoming_transfer.returned

  • ach.outgoing_return.dishonored: deprecated, merged to ach.incoming_transfer.return_dishonored

  • ach.outgoing_return.contested: deprecated, merged to ach.incoming_transfer.return_contested

  • ach.incoming_return.initiated: deprecated, merged to ach.outgoing_transfer.returned

  • ach.incoming_return.dishonored: deprecated, merged to ach.outgoing_transfer.return_dishonored

  • ach.incoming_return.contested: deprecated, merged to ach.outgoing_transfer.return_contested

Dec 17th, 2021

API Filtering

New
    • API filters are added to /entites/bank-accounts/transfers/ach/transfers/wireand and /transfers/book. These endpoints now support more complex filtering.

Dec 1st, 2021

Dec 1, 2021

  • A details block was added for requests to book transfers. Depending on your use case we may require additional metadata to be sent in this field for our transaction monitoring.

Nov 16th, 2021

Pagination and hold/clear

  • Pagination available for all list endpoints. You can learn more about it here.

  • Book Transfers now support a hold then clear functionality.

    • This change adds a new balance called the "holding balance" to all accounts

    • Adds "hold" parameter to endpoint to create a book transfer

    • Adds endpoint to clear a book transfer

    • Adds endpoint to update a book transfer

    • Adds endpoint to cancel a book transfer

    • New webhook events are added for:

      • book.transfer.hold_created

      • book.transfer.updated

      • book.transfer.canceled

Nov 9th, 2021

Nov 9, 2021

  • Added more webhook events for ACH returns:

    • ach.outgoing_return.initiated

    • ach.outgoing_return.dishonored

    • ach.outgoing_return.contested

    • ach.incoming_return.initiated

    • ach.incoming_return.dishonored

    • ach.incoming_return.contested

Nov 3rd, 2021

Nov 3, 2021

Renamed counterparty.counterparty_id to counterparty.id to be consistent with other API responses.

Oct 11th, 2021

Oct 11, 2021

  • We’ve released idempotency! You can read about it here.

  • We’ll be releasing pagination soon. You can read a draft of the docs here.

  • Error response type and code will be changed to be all lower case.

    • ie: BANK_ACCOUNT_NOT_FOUND will be bank_account_not_found

    • transfers_{error} codes are now transfer_{error} codes

    • Docs will be updated and code will be released tonight or tomorrow.

  • Events are being reformatted to {category}.{sub_category}.{action}, ie ACH_TRANSFER_INITIATED will now be ach.outgoing_transfer.initiated

  • Docs will be updated and code will be released hopefully tomorrow.

  • Docs starting tomorrow will now be gated by the dashboard login, as opposed to a master password.

Sep 15th, 2021

Sept 15, 2021

Aug 16th, 2021

Aug 16, 2021

  • Published ACH return APIs:

    • File returns for received ACH credit/debit transfers (i.e., Column is the RDFI)

    • Retrieve the return processing details of an ACH transfer.

    • Retrieve the return processing details of all ACH transfers under your developer account.

Aug 5th, 2021

Aug 5, 2021

Fixed bugs in entity request validation

Aug 4th, 2021

Aug 4, 2021

Updated the LIST /transfer endpoint to have a unified schema for all transfer types

Aug 2nd, 2021

Aug 2, 2021

  • Renamed the /sandbox routes to /simulate to avoid confusion. All of the routes are sandboxed and can be used with your test api-key. However, the simulate routes are sandbox only and enable you to simulate settlement of ACH and Wire transfers.

  • Updated ACH documentation.

Jul 27th, 2021

July 27, 2021

  • Deprecated amount[cents] and amount[currency_code] in transfer requests and responses, and moved amount and currency to the top level.

  • Removed update_mask from the entity update API.