Receiving a FedNow transfer
When a FedNow transfer is sent to your Account,
Increase will immediately confirm it and create a Transaction,
as long as the Account is open
and the Account Number is active and can receive deposits.
Otherwise,
Increase declines the transfer.
Inbound transfers appear as Inbound FedNow Transfers.
Lifecycle
| Status | Description |
|---|---|
pending_confirming | The transfer is pending confirmation. |
confirmed | The transfer has been received successfully and is confirmed. |
declined | The transfer has been declined. |
timed_out | The transfer was not responded to in time. |
requires_attention | The transfer requires attention from an Increase operator. |
FedNow gives the receiving bank only seconds to respond,
so Increase confirms or declines a transfer immediately.
A transfer that isn't answered in time ends in timed_out.
Declines
If the destination Account or Account Number can't accept the transfer,
Increase declines it
and the Inbound FedNow Transfer's decline object includes a
reason,
such as the Account Number being disabled or the Account not being enabled for FedNow.
If you'd like to programmatically approve or decline inbound FedNow transfers using webhook Events, please reach out to support@increase.com.
Testing in the sandbox
You can simulate receiving a FedNow transfer in the sandbox with the
Create an Inbound FedNow Transfer simulation endpoint.
Pass the account_number_id you'd like to receive funds for and an amount in USD cents.
If you have an Event Subscription configured,
this also fires the corresponding inbound_fednow_transfer.created and inbound_fednow_transfer.updated webhooks.