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.
When an incoming wire transfer reversal is initiated, the status of the original transfer will not be changed, and the reversal transfer follows its own lifecycle as if it were an ordinary outgoing wire transfer. See Wire Notification And States for more information.
The reversal transfer can be sent at any time after the original incoming transfer was received. We currently only allow incoming wire reversals for the following reasons:
- The beneficiary account number is invalid
- The beneficiary information in the wire does not match the corresponding information on the account
- The beneficiary is refusing the wire
- The beneficiary is reversing the wire as per the sender's request
Currently, these are the only reasons supported for initiating a wire reversal. If there is a reason you feel should be supported that is outside the scope of the reasons above please email us at firstname.lastname@example.org to see if it makes sense to add.
reversal_pair_transfer_id field of
wire_transfer object is used to link the original transfer and the reversal transfer as:
original_transfer.reversal_pair_transfer_id = reversal_transfer.id
reversal_transfer.reversal_pair_transfer_id = original_transfer.id
original_transfer.reversal_pair_transfer_id will be final once the
completed and no other reversals on
original_transfer will be permitted. Further, another reversal cannot initiated on
reversal_transfer is in progress. A new reversal can only be initiated if and when
We currently only support reversals on incoming basic funds transfers. At the wire protocol-level, this means that the
incoming wire message has a
00. Column cannot reverse an outgoing wire transfer for which Column is the ODFI.
BTR (a bank-to-bank transfer) when the original transfer came from a bank
external to Column. We do this for several reasons. First, this is what we receive in practice from other financial
institutions. Second, we have seen cases where a
CTR (customer-to-customer) is sent back to us. A
BTR allows the
receiving financial institution to determine where to send the reversed funds.
CTR for "on us" transfers where the original transfer was from a sender who also
banks at Column.
We are able to automatically determine the correct
message_subtype code (
02 for same day and
08 for a prior day)
based on the original incoming transfer being reversed.