The transfer of funds between a payer and a payee for a specific business event.
Element Information
The <FinancialTransaction> element is a child element of the <BusinessTransaction> element. The <FinancialTransaction> element is the first element under the <BusinessTransaction> element and is an optional repeating (unbounded) element.
The <FinancialTransaction> element contains 7 children elements and has a sequence content model. The sequence content model means that there is a particular order to the children elements of the parent element - in this case, the <FinancialTransaction> element has a particular order of elements that must be followed.
Attribute Information
Name
Use
DataType
Definition
ID
[1..1]
String [0, 80]
An identifier for the record. For a receiving system, this value can be used to reconcile updates to an existing record and qualify new records. For a sending system, this value can be used to reconcile acknowledgements for the submitted records.
Code
[0..1]
[string] and ARC [Accounts Receivable Entries. Single entry account debit used by orginators to convert a consumer check that is received via email or lockbox.], BOC, CCD [A credit or debit entry initiated by an organization to effect a transfer of funds to or from the account of that organization or another organization.], CIE [Customer Initiated Entries. Credit entry initiated by or on behalf of the builder of a consumer account to effect a transfer of funds to the account of the receiver.], COR [Notification of Change], CTX [Corporate Trade Exchange. A credit or debit entry initiated by an organization to effect a transfer of funds to or from the account of that organization or another organization and accompanied by addenda records.], POP [Point of Purchase. Point of Purchase is a single entry ACH debit entry, initiated by an originator to a consumer's account for the in-person payment for goods and services.], POS [Point of Sale. A debit entry initiated at an electronic terminal to effect a transfer of funds from a consumer account of the receiver to pay an obligation incurred in a point-of-sale transaction.], PPD [Prearranged Payment and Deposit Entry. A credit or debit entry initiated by an organization pursuant to a standing or a single entry authorization from a receiver to effect a transfer of funds to or from a consumer account of the receiver.], TEL [Telephone-Initiated Entry. Telephone initiated entries indicating oral authorization by the consumer via a telephone.], WEB [Internet-Initiated Entry. Originator initiating debit entries to a consumer account pursuant to an authorization that is obtained from the receiver via the Internet are required to use the WEB standard entry class code.]
The transaction code, for example, indicates the standard entry class codes in an ACH transaction.
Type
[0..1]
String [0, 40]
The type of transaction, for example, indicates the Fedwire type for this record.
SubType
[0..1]
String [0, 80]
The sub type of transaction, for example, indicates the sub type in a Fedwire transaction.
Status
[0..1]
ACHPrenote [Zero dollar transaction to verify the validity of an account relationship.], Authorization, Adjustment, ChargeBack [A return for a credit card transaction.], FA Settled [The financial transaction is settled before the transaction reaches the settlement gateway, for example, in ECP, the financial agent settles the financial transaction before it reaches ECP.], NonFinancialTransaction [This is a financial transaction for program data only, for example, when Pay.Gov has a business transaction without any financial transaction data.], Representment [The item has been submitted again to collect funds.], Received, Retire [No more collection efforts will be made on the item and a 5515 debit voucher is processed to debit the agency for the money.], Return [For check/ACH transaction return.], Settled [Item has been credited/debited to the agency.], Void
Identifies the transaction status.
ReferenceNumber
[0..1]
String [0, 80]
The reference number for the data record.
ReferenceName
[0..1]
String [0, 80]
The reference name for the data record.
ReferenceCode
[0..1]
String [0, 40]
The reference code for the data record.
ReferenceText
[0..1]
String [0, 400]
The reference description for the data record.
TraceNumber
[0..1]
String [0, 80]
The trace number for the transaction.
ChannelType
[0..1]
POS-OTC, Mail-OTC, Mail-LBB, Internet, Telephone, Bank, Intragov, Third-Party
Identifies the payment medium for the transaction.
IsCredit
[0..1]
1|0
Indicates if the item is a debit or credit, for example, a value of '1' would mean that it is a 'credit'. If the attribute is not populated or not present in the XML instance document, then the default value is understood to be '0'.
IsRecurring
[0..1]
1|0
Indicates if the item is a recurring transaction. If the attribute is not populated or not present in the XML instance document, then the default value is understood to be '0'.
IsTax
[0..1]
1|0
Indicates if the item is a tax collection transaction. If the attribute is not populated or not present in the XML instance document, then the default value is understood to be '0'.
TransactionDate
[0..1]
YYYY-MM-DD
The date that the customer either authorized or approved the payment to satisfy debt or pay for purchase or pay down from an appropriation account.
SettlementDate
[0..1]
YYYY-MM-DD
The anticipated date the funds will transfer (pre-settlement) or the date that the funds have been transferred (post-settlement).
DepositDate
[0..1]
YYYY-MM-DD
The business date that the payment instruction was received by a business channel. The date that the deposit is presented to a financial institution, for example TGANET. The date that an ACH or Check-21 item is physically entered in the payment stream.