Table of Contents

Wires Introduction

API Banking supports Wires Payment initiated via APIs. SVB Clients must be onboarded and registered for 'Wires' to use our Wires API services.  

Wires APIs services allows you to send payments using the eligible accounts that are onboarded. We allow the following capabilities:  

  • Post Immediate Wire: USD Fedwire, USD Swift, and FX Wire.
  • Post Scheduled Wire: USD Fedwire, and USD Swift.
  • Retrieve Wire Payment Status
  • Delete Scheduled Payment 
  • Webhooks for event type: wires.status 

 

USD Domestic & SWIFT Wire 

We support USD Fedwire & SWIFT Wire Payment to be submitted via our Wires API. Few key points to note: 

  • Wires Type: Provide "WIRE-US" for Domestic Fedwire and "WIRE-INT" for USD SWIFT wires Payment. 
  • Debit Account: Must be onboarded for Wires scope at the time of onboarding to API Banking. 
  • Amount: Must be within the allowed Daily Limit & Transaction Limit for the Debit Account.
  • Currency: Must be USD.  
  • Processing Date: Payment must be the current date (PST) and a valid business day for immediate payment. For Scheduled Payment the Processing Date must be a future date, upto 365 days, & a business day.  
  • Beneficiary Bank Routing Number: For USD Fedwire, a valid 9-digit ABA number. USD SWIFT Wire a valid 8 or 11-digit SWIFT (BIC) Code. 
  • USD SWIFT: Ensure to provide all details as required by the country of destination. 

FX Wire 

We support FX Wire Payment to be submitted via Wires API.

  • FX Wire with Contract: Currently, FX Wire must be initiated with a valid contract & splitting of the contract amount is not supported. Please ensure to create a contract via FX API (https://developer.svb.com/apis/fx-api). Few key point to note:
  • Wires Type: Provide "WIRE-FX" for FX Wire 
  • Deal ID: Provide the ID generated when creating the contract via FX API. FX Wires can be initiated only with a valid contract that matches the Debit Account, Credit Amount & Credit Currency in the Wires payment payload. 
  • Debit Account: Must be onboarded for Wires scope at the time of onboarding to API Banking.
  • Amount: Provide the credit amount. The converted USD debit amount must be within the allowed Daily Limit & Transaction Limit for the Debit Account. 
  • Currency: Must be non-USD and SVB supported currency. 
  • Processing Date: Payment must be current date. 
  • Beneficiary Bank Routing Number : A valid 8 or 11-digit SWIFT (BIC) Code
  • Beneficiary Account Number: Must be an Account Number or IBAN as required by the country of destination. 
  • FX Wire: Ensure to provide all details as required by the country of destination. 

 

Wires Cut-off Times 

Wires API payments must be posted within the stated cut-off times. 

Wire Types Cut-Off Times
Domestic & SWIFT

 Immediate Wire Payment: 2:00 am to 2:30 pm PST. Wires API Payment must be submitted within the stated cut-off time and on a business day. API Banking will reject any request received after the cut-off.

 Scheduled Wire Payment: Can be submitted anytime but 'Processing Date' must be in the future. 

FX Wire

 FX Wire with contract: 24/7

 We do not support Scheduled FX Wire Payment  

 

Wires Status 

Listed below is the possible status for Wires Payment

Wire Payment Life Cycle

 

Status Description
Scheduled  The initial status for Scheduled Wire payment.  API Banking has performed initial validations on the payload and warehoused the payment for processing on Processing Date.
Initiated  The initial status of the Wire payment. API Banking has performed initial validations on the payload and accepted the payment.
Processing  The Wire Payment has been sent for further processing and settlement. 
Completed  The Wires Payment has been posted successfully for settlement.
Cancelled  The Wires Payment was cancelled. Payment can be canceled for various reasons, including incorrect account numbers.

 

 

Wires Webhooks

We support clients to subscribe to Webhooks for the status of Wires payments. 

  • Clients will be notified with the following information if they subscribe to the event types 'wires.status' 
    • Status
    • Client ID
    • Wire Type
    • Payment ID
    • Processing Date
    • Amount Value
    • Amount Currency
    • Debit Account
    • Credit Account
    • Posted Date