Resources

Principal Protection (PPRO)

Principal Protection is a service that protects cross-border USD wire payments from variable intermediary and correspondent fees as the payment passes through the payment chain for a fixed fee. This service ensures the full value of the payment reaches the beneficiary with no fee deductions, and the remitter covers these fees.

Response types

Same Currency Wire payments support the following response types:

• Received
• Accepted
• Processing
• Canceled
• Rejected
• Completed
• Returned

For a full list of status response and error codes, see status responses and error codes.

Transfer limits

The following sections show the transfer limits for wire transactions by region.

North America (NA)

• Fed or CHIPS: $9.9 billion
• Book transfer: $25 billion

Cutoff times

A cutoff time identifies the deadline to submit a payment so that it settles on the corresponding settlement date.

The following sections show regional supported cutoff time or times for a wire payment.

Europe Middle East and Africa (EMEA)

EUR cutoff times

	Clearing (TARGET2/EURO1)	Book Transfer/Network Payment
Start of processing	07:00	07:00
Client cutoff	16:30	22:00

North America (NA)

United States cutoff times

Electronic Initiation	CHIPS	Fedwire	Book Transfer	Description
Straight-Through	17:30	18:15	19:15	Debit to a client's account, initiated via an electronic banking system or SWIFT, and processed straight through without operator intervention.
Operator Repair	17:00	17:30	18:45	Debit to a client's account, initiated via an electronic banking system and that required operator's intervention.
Drawdown In	N/A	17:30	19:15	Debit to client's account in response to a Fedwire drawdown request.
Fed Drawdown Out	N/A	17:30	N/A	Fed wire drawdown request, initiated electronically, to draw funds in to a J.P. Morgan account.
Fed Settlement	N/A	18:00	N/A	Bank to Bank end of day settlement by an FI with the Federal Reserve Bank (Fed Type code 16 wire transaction).
Federal Tax Payments	N/A	15:00	N/A	Execution of a Fed wire in settlement of an IRS tax payment.
Foreign Central Bank Payments	N/A	16:00	N/A	A transfer to a foreign central bank with an account at the Federal Reserve Bank (Fed Type code 15 wire transaction)

Duplicate logic

A Wire payment is irrevocable. If the same payment is sent twice, the status of the original payment is returned with the original paymentId. To confirm the status of any transaction, get the status of a wire payment.

Duplicate transactions

The Global Payments API supports the ability for idempotent calls, which is useful when you initiate a payment, create a client, make a change, or retry a failed request for some reason, such as a network issue.

If a Wire payment has the same endToEndId as another Wire payment within a specified timeframe, the Global Payments API deems it duplicative.

The following table contains each country's specified timeframe:

Duplicate transaction timeframes for Wire

Country	Timeframe
South Africa	60 days
United States	60 days
All others	6 months to 1 year depending on client configuration setup

Tax payments (SWIFT)

There are special requirements for FED payments that you send to the Treasury Department for the sole
purpose of settling a tax payment:

• The Beneficiary Customer, Account with Institution and Remittance Information you provide must all
  follow a specific model.
• Cut-off times for tax payments is 15:00 Eastern Time. (Payments received after the cut-off are
  handled on a reasonable-effort basis.)

Account with institution

Single business tax payer (SBT):

• Line 1 - //FW091036164
• Line 2 - US TREASURY SINGLE TAXPAYORS
• Line 3 - MINNEAPOLIS MN US

Bulk provider taxpayer (BPT)

• Line 1 - //FW091036177
• Line 2 - FRBM/BK OF AMERICA
• Line 3 - MINNEAPOLIS MN US

Sample:

:57D//FW091036164

US TREASURY SINGLE TAXPAYORS

MINNEAPOLIS MN US

Beneficiary customer

• Line 1 - /20092900
• Line 2 - IRS
• Line 3 - MINNEAPOLIS MN US

Sample:

:59:/20092900

IRS

MINNEAPOLIS MN US

Remittance information

The items below must follow each other in order, starting with the first line of Field 70 and extending to
additional lines as needed. Each piece of information must be separated and end with a colon.

• Nine-digit tax payer ID number
• Taxpayer name control (first 4 letters of your business name)
• Taxpayer name (up to 35 characters)
• Tax type (5 digits)
• Tax year (2 digits)
• Tax month (2 digits, use a preceding zero for single-digit months)

Sample:

:70:1BBB56789:JONE:JONESCOMPANY INC:
72005:17:03:

Sanctions screening

J.P. Morgan screens the remittance information and ultimate debtor information to comply with United States OFAC regulations, applicable non-U.S. sanctions, and national and international anti-terrorism laws.