Get the free Wire Standard Text Mapping: Fedwire Credit/Debit
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Wire Standard Text Mapping: Fed wire Credit/Debit Transaction TypesCurrent DescriptionFuture Text FieldDescriptionPos# Credit (BAD Code 195 Pos# Debit (BAD Code Reference Text) 495 Reference Text)
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What is wire standard text mapping?
Wire standard text mapping is the process of mapping standardized text codes to help facilitate the transmission of wire payments.
Who is required to file wire standard text mapping?
Financial institutions and other entities involved in processing wire payments are required to file wire standard text mapping.
How to fill out wire standard text mapping?
Wire standard text mapping can be filled out by identifying the text codes that correspond to specific payment instructions and entering them into the mapping system.
What is the purpose of wire standard text mapping?
The purpose of wire standard text mapping is to ensure that wire payments are processed accurately and efficiently by using standardized text codes.
What information must be reported on wire standard text mapping?
Information such as payment instructions, beneficiary details, and payment amounts must be reported on wire standard text mapping.
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