Details
October 3, 2014
1:00PM - 2:30PM
Wires 101 & 102
Two Part Webinar Series
October 3 & 20 | 12:00 - 1:30 p.p. CT
Member $349 | Non-Member $698
Wire payments, used since the early days of the U.S. payments infrastructure, continue to see an increase in the volume of payments. This course examines the two U.S. dollar wire systems: Fedwire Funds Service and The Clearing House Interbank Payments System (CHIPS). Attendees will gain an understanding of how wire payments are processed, settled and what participants are involved. In addition, attendees will examine the risk controls in the systems, the benefits and challenges associated with wire payments and the more recent changes in relation to cover payments (2009) and remittance information (2011).
Part two examines payment message structure and decisions that participants need to make when using Fedwire or CHIPS. Comparisons are made between the field tags each system uses, the identifying information necessary for each party and other information identified within the field tags. The 2009 cover payments format changes are discussed, as well as November, 2011 remittance format changes for both Fedwire and CHIPS. Attendees come away with a better idea of what information is contained in wire payments, and how that information is obtained and used.
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10/03/2014 01:00 PM
10/03/2014 02:30 PM
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Wires 101 & 102
Member $349 | Non-Member $698
Wire payments, used since the early days of the U.S. payments infrastructure, continue to see an increase in the volume of payments. This course examines the two U.S. dollar wire systems: Fedwire Funds Service and The Clearing House Interbank Payments System (CHIPS). Attendees will gain an understanding of how wire payments are processed, settled and what participants are involved. In addition, attendees will examine the risk controls in the systems, the benefits and challenges associated with wire payments and the more recent changes in relation to cover payments (2009) and remittance information (2011).
Part two examines payment message structure and decisions that participants need to make when using Fedwire or CHIPS. Comparisons are made between the field tags each system uses, the identifying information necessary for each party and other information identified within the field tags. The 2009 cover payments format changes are discussed, as well as November, 2011 remittance format changes for both Fedwire and CHIPS. Attendees come away with a better idea of what information is contained in wire payments, and how that information is obtained and used.
October 3 & 20 | 12:00 - 1:30 p.p. CT