Wire

API Documentation

Column exposes the ability to transmit and receive through the Federal Reserve's Fedwire system. Fedwire enables you to send real-time funds from any bank account. TCH (The Clearing House) Wires are coming in 2022.

You'll receive a webhook and an event will be generated anytime a wire is sent to your bank account.

Wire transactions can be sent to Column 24/7, however they are only processed by the Federal Reserve on business day beginning at 9:00 p.m. eastern time (ET) on the preceding calendar day and ending at 7:00 p.m. ET, Monday through Friday, excluding designated holidays. For example, the Fedwire Funds Service opens for Monday at 9:00 p.m. on the preceding Sunday. The deadline for initiating transfers for the benefit of a third party (such as a bank's customer) is 6:45 p.m ET each business day.

Notifications and States

When you initiate a wire transfer with Column it goes through several status, detailed below. Generally, wires will flow through several states in rapid succession. For outgoing wires, a wire will move from INITIATED to PENDING_SUBMISSION to SUBMITTED to COMPLETED right away.

  • INITIATED: Column has received your wire transfer request and will submit it to the Federal Reserve.
  • PENDING_SUBMISSION: Column will submit your wire to the Fed once it is open (for wires that are submitted between 6:45pm PST and 9:00pm PST).
  • SUBMITTED: Column has submitted the wire transfer request to the Federal Reserve Bank.
  • COMPLETED: Column has received an acknowledgement from the Federal Reserve that this wire transfer request has been processed successfully.
  • REJECTED: The wire transfer request has been rejected by Column or by the Federal Reserve (this event will rarely happen).
  • MANUAL_REVIEW: The wire transfer is undergoing a manual review which will be approved or rejected by Column. This can be triggered for a variety of reasons, such as an unusually high transaction volume or dollar amount.

International Wires

We support both domestic and international wires. If you have an existing relationship with a correspondent bank or international transfer company, we can work with them to settle your outgoing international wires. For incoming international wires we enable you to unpack and see the raw original wire message - SWIFT data and all!

Reverse Wires

Fedwire is credit (push) only. However, there is a way to simulate a Fedwire 1031 drawdown request (pull) if you and the counterparty have a standing money movement relationship (i.e. payroll), these are known as reverse wires. We do support these, but the functionality is not available with self-serve accounts at Column - email us at developers@column.com if you're interested!

Raw data

Wire messages have an immense amount of context and data available that most banks don't have the ability to see. Since we have a direct connection to the Federal Reserve, we receive full raw data for all domestic and international wires. We have the ability to include them in the API payloads. Email us if you would like more raw wire data included, besides those important raw fields that are already available in the API payloads.