Import FedNow File

To create an import request for a payment file (using CSV, XML, or JSON) into your financial institution for the FedNow system, you would need to structure the file according to the requirements of the FedNow API or system integration used by your institution. Here's a basic outline of how each format could be structured for such a request.

1. CSV Format

A CSV file typically contains records in a simple tabular format where each line represents a row. The FedNow system likely requires specific fields such as sender details, receiver details, transaction amount, and date.

Example CSV Structure:

csv

TransactionID, SenderAccount, ReceiverAccount, Amount, TransactionDate, Description

123456, 111111111, 222222222, 500.00, 2023-09-12, Payment for invoice 789

789123, 333333333, 444444444, 250.00, 2023-09-12, Payment for services rendered

This file can be imported via the FedNow hub after validation to ensure it complies with the specific CSV format expected by FedNow.

2. XML Format

XML is more structured and allows the transmission of more complex data. Below is a basic example of how the XML might look:

xml

<Payments>

    <Payment>

        <TransactionID>123456</TransactionID>

        <SenderAccount>111111111</SenderAccount>

        <ReceiverAccount>222222222</ReceiverAccount>

        <Amount>500.00</Amount>

        <TransactionDate>2023-09-12</TransactionDate>

        <Description>Payment for invoice 789</Description>

    </Payment>

    <Payment>

        <TransactionID>789123</TransactionID>

        <SenderAccount>333333333</SenderAccount>

        <ReceiverAccount>444444444</ReceiverAccount>

        <Amount>250.00</Amount>

        <TransactionDate>2023-09-12</TransactionDate>

        <Description>Payment for services rendered</Description>

    </Payment>

</Payments>

This XML structure would need to comply with FedNow’s payment schema.

3. JSON Format

JSON is widely used for API integrations due to its simplicity and readability. Here’s an example of how a JSON request could look:

json

{

  "payments": [

    {

      "transactionID": "123456",

      "senderAccount": "111111111",

      "receiverAccount": "222222222",

      "amount": 500.00,

      "transactionDate": "2023-09-12",

      "description": "Payment for invoice 789"

    },

    {

      "transactionID": "789123",

      "senderAccount": "333333333",

      "receiverAccount": "444444444",

      "amount": 250.00,

      "transactionDate": "2023-09-12",

      "description": "Payment for services rendered"

    }

  ]

}

Steps for Importing the File:

1. Validate the File: Ensure the file complies with FedNow’s specific requirements for the format and fields.
2. Authentication: Depending on your institution's integration with FedNow, you'll need to authenticate to their hub (either through API keys, certificates, or other secure methods).
3. File Upload: Use the file upload or API endpoint of your institution’s FedNow system. If using an API, the JSON or XML payload would typically be posted to a specific endpoint. For CSV, it might require a file upload through the institution's interface or API.
4. Monitor Status: FedNow provides status updates on payment transactions, so once the file is uploaded, ensure you monitor the responses or logs for successful processing or errors.

Example API Call (for JSON/XML):

For JSON/XML, you may use a standard POST API call (specific to your financial institution):

POST /fednow/payment/import

Content-Type: application/json

Authorization: Bearer <YourAPIToken>

{

  "payments": [...]

}

In this setup, you’ll provide the required data for payments, and the API will process it into FedNow.

You should check your institution’s documentation to verify the correct fields, format, and method for importing payment requests into FedNow.