Wire Payments
Q&A related to Wire payments - Domestic and International.
Payments are processed Monday – Friday, excluding bank holidays. The processing cutoff times for both wire payment types are listed below.
Payment Type | Cutoff Time - ET |
|---|---|
Domestic Wire Transfer | 5:45 PM |
International Wire Transfer | 5:45 PM |
You are able to select “Wire” or “Intl. Wire” as the Payment Method regardless of the Source Account when you are paying a bill. After you confirm the payment, the Payment Status will show as “Sent for Processing.” The payment will be rejected by the bank during validation and will display on the Failed Bills (NetSuite, Intacct, Business Central) or Payment History (Xero, QuickBooks) page. The payment will reopen on the Open Bills page.
IMPORTANT NOTE: We recommend you check the Failed Bills page daily to determine if any payments were rejected and manage the reopened invoices accordingly. (Contact your Treasury Relationship Manager to add a payment type(s) to an account.)
The current date will be considered the Effective/Value date for a payment received by the bank on a banking day prior to the payment cutoff time. Please see the table below for more information.
Payment Type | Debit Date (Settlement date) | Credit Date (Receiving date) | If payment is received after the cutoff |
|---|---|---|---|
Domestic Wire | Same day – your account will be debited when Citizens receives the payment. | Most beneficiaries will be credited same day or the next day. | The Value Date for payments received after the cutoff time (5:45 PM ET), will be calculated by the system as the payment date + one day. If the Value Date falls on a weekend or holiday, the payment will be rejected by the bank. |
International Wire | Same day – your account will be debited when Citizens receives the payment. | Some beneficiaries will be credited same day or next day, but others may be credited in 3+ days. | The Value Date for payments received after the cutoff time (5:45 pm ET), will be calculated by the system as the payment date + one day. If the Value Date date falls on a weekend or holiday, the payment will be rejected by the bank. |
Please see the below for the processing steps of Wire payments.
Wire Payment Processing State | ERPConnect Payment Status | accessOPTIMA® Payment Status / Timing |
|---|---|---|
Payment is submitted | Status: Sent for processing Timing: Within a minute of submitting the payment | Status: Approved Timing: As soon as second user approves the payment |
Citizens receives the payment instructions | Status: Processing by provider Timing: Usually within 1 hour | Status: Bank Received Timing: Within minutes of approval |
A validation error with the payment is discovered | Status: Validation issue Timing: If caught by ERPConnect, it will be almost immediate. If it's at the bank side, it could take a bit longer but generally within a few minutes after Processing by provider status. | Status: N/A Timing: General payment validation performed by the system prior to approval. |
No reject received from Citizens | Status: Succeeded Timing: Within 1-2 hours | Status: Bank Confirmed Timing: |
Rejection is received from Citizens and payment is not processed | Status: Failed Timing: As soon as rejection is received - typically within 1-2 hours | Status: Rejected Timing: As soon as rejection is received - typically within 1-2 hours |