Reversals

Wire transfers are final and irrevocable. However, they can be reversed by the receiving depository financial institution in rare circumstances. Reversals can also be requested by the originator, but the receiving institution is under no obligation to approval them. If a wire transfer is reversed, the original transfer is not altered. Instead a separate wire transfer is initiated in the other direction.

It’s worth noting that there are no rules for reversing wire transfers. Common and acceptable reasons include:

Incorrect account or beneficiary details were provided
The receiving depository institution is unable to reconcile the transfer to a beneficiary
The beneficiary has refused the wire
The sender has requested a reversal due to an unauthorized transfer

How Reversals work with Increase

Receiving a reversal

When a Wire Transfer is submitted to the Federal Reserve, it’s status updates to complete. If the transfer is reversed by the receiving depository institution, the status updates to reversed and a reversal property is added to the transfer object. Additionally, a second transaction is created for the reversal to debit the funds. The Transaction is linked in the transaction_id attribute of the reversal property.

Requesting a reversal

If you’d like to request that a Wire Transfer be reversed, please contact support@increase.com

Reversal reason codes

Reversals sent from other banks in response to a wire you sent usually have a return_reason_code associated with them. The reason code, when present, will be a four character sequence, generally from an agreed-upon list of codes defined in the “ISO 20022” specification and called ExternalReturnReason1Code. The Fedwire network doesn’t strictly validate the return reason codes sent by banks, so some wires will have an undocumented, or missing return code.

The most common codes as NARR (“see narrative”) and AC01 (“incorrect account number”). Extra details, like the “narrative”, are included in the field return_reason_additional_information.

Code	Description
`AC01`	Incorrect Account Number
`AC02`	Invalid Debtor Account Number
`AC03`	Invalid Creditor Account Number
`AC04`	Closed Account Number
`AC06`	Blocked Account
`AC07`	Closed Creditor Account Number
`AC13`	Invalid Debtor Account Type
`AC14`	Invalid Agent
`AC15`	Account Details Changed
`AC16`	Account In Sequestration
`AC17`	Account In Liquidation
`AG01`	Transaction Forbidden
`AG02`	Invalid Bank Operation Code
`AG07`	Unsuccessful Direct Debit
`AGNT`	Incorrect Agent
`AM01`	Zero Amount
`AM02`	Not Allowed Amount
`AM03`	Not Allowed Currency
`AM04`	Insufficient Funds
`AM05`	Duplication
`AM06`	Too Low Amount
`AM07`	Blocked Amount
`AM09`	Wrong Amount
`AM10`	Invalid Control Sum
`ARDT`	Already Returned Transaction
`BE01`	Inconsistent With End Customer
`BE04`	Missing Creditor Address
`BE05`	Unrecognized Initiating Party
`BE06`	Unknown End Customer
`BE07`	Missing Debtor Address
`BE08`	Bank Error
`BE10`	Invalid Debtor Country
`BE11`	Invalid Creditor Country
`BE16`	Invalid Debtor Identification Code
`BE17`	Invalid Creditor Identification Code
`CN01`	Authorization Canceled
`CNOR`	Creditor Bank Is Not Registered
`CNPC`	Cash Not Picked Up
`CURR`	Incorrect Currency
`CUST`	Requested By Customer
`DC04`	No Customer Credit Transfer Received
`DNOR`	Debtor Bank Is Not Registered
`DS28`	Return For Technical Reason
`DT01`	Invalid Date
`DT02`	Check Expired
`DT04`	Future Date Not Supported
`DUPL`	Duplicate Payment
`ED01`	Correspondent Bank Not Possible
`ED03`	Balance Info Request
`ED05`	Settlement Failed
`EMVL`	EMV Liability Shift
`ERIN`	Extended Remittance Information Option Not Supported
`FF03`	Invalid Payment Type Information
`FF04`	Invalid Service Level Code
`FF05`	Invalid Local Instrument Code
`FF06`	Invalid Category Purpose Code
`FF07`	Invalid Purpose
`FOCR`	Following Cancellation Request
`FR01`	Fraud
`FRTR`	Final Response Mandate Canceled
`G004`	Credit Pending Funds
`MD01`	No Mandate
`MD02`	Missing Mandatory Information In Mandate
`MD05`	Collection Not Due
`MD06`	Refund Request By End Customer
`MD07`	End Customer Deceased
`MS02`	Not Specified Reason Customer Generated
`MS03`	Not Specified Reason Agent Generated
`NARR`	Narrative
`NOAS`	No Answer From Customer
`NOCM`	Not Compliant
`NOOR`	No Original Transaction Received
`PINL`	PIN Liability Shift
`RC01`	Bank Identifier Incorrect
`RC03`	Invalid Debtor Bank Identifier
`RC04`	Invalid Creditor Bank Identifier
`RC07`	Invalid Creditor Bank Identification Code Identifier
`RC08`	Invalid Clearing System Member Identifier
`RC11`	Invalid Intermediary Agent
`RF01`	Not Unique Transaction Reference
`RR01`	Missing Debtor Account Or Identification
`RR02`	Missing Debtor Name Or Address
`RR03`	Missing Creditor Name Or Address
`RR04`	Regulatory Reason
`RR05`	Regulatory Information Invalid
`RR06`	Tax Information Invalid
`RR07`	Remittance Information Invalid
`RR08`	Remittance Information Truncated
`RR09`	Invalid Structured Creditor Reference
`RR11`	Invalid Debtor Agent Service Identification
`RR12`	Invalid Party Identification
`RUTA`	Return Upon Unable To Apply
`SL01`	Specific Service Offered By Debtor Agent
`SL02`	Specific Service Offered By Creditor Agent
`SL11`	Creditor Not On Whitelist Of Debtor
`SL12`	Creditor On Blacklist Of Debtor
`SL13`	Maximum Number Of Direct Debit Transactions Exceeded
`SL14`	Maximum Direct Debit Transaction Amount Exceeded
`SP01`	Payment Stopped
`SP02`	Previously Stopped
`SVNR`	Service Not Rendered
`TM01`	Cut Off Time
`TRAC`	Removed From Tracking
`UPAY`	Undue Payment