Batch Payments Request for Payments File
How to Batch Import FedNow and Instant Real-Time Payments Request for Payment File
FedNow and Real-Time instant payments, are defined simply as: Irrevocably collected funds in a bank account and usable immediately by the owner of the account. Our "Good Funds" payment gateway allows for instant real-time digital payments that are immediate, irrevocable, intra-bank and/or interbank account-to-account (A2A) transfers that utilize a real-time messaging system connected to every transaction participant through all U.S.-based financial institutions.
To batch import FedNow and Instant Real-Time Payments (RTP) Request for Payment (RfP) files into your bank’s dashboard, the process generally involves preparing the data in the required format (such as XML, CSV, or ISO 20022), validating it, and uploading it to the bank’s platform for real-time payment processing.
Here’s a detailed step-by-step guide on how to upload the batch RfP files into your bank’s dashboard:
1. Prepare the RfP File for Batch Upload
Your Request for Payment (RfP) file should include key payment details such as:
- Payee Information (name, account number, routing number)
- Payer Information
- Invoice Number or Reference
- Payment Amount and Currency
- Due Date
a) CSV Format Example:
If your bank accepts CSV for RfP, here’s how the file might look:
csv
PayeeName,PayeeAccount,PayeeRouting,PayerName,PayerAccount,PayerRouting,Amount,Currency,DueDate,InvoiceRef
ABC Corp,123456789,987654321,John Doe,987654321,123456789,500.00,USD,2024-10-01,INV-1001
XYZ LLC,2233445566,654321987,Jane Smith,1122334455,321654987,300.00,USD,2024-09-25,INV-1002
b) ISO 20022 XML Format Example:
FedNow and RTP generally use ISO 20022 XML for RfPs. Here’s an example XML structure:
xml
<Document>
<ReqForPaymt>
<PayeeInfo>
<Name>ABC Corp</Name>
<AcctNumber>123456789</AcctNumber>
<RoutingNumber>987654321</RoutingNumber>
</PayeeInfo>
<PayerInfo>
<Name>John Doe</Name>
<AcctNumber>987654321</AcctNumber>
<RoutingNumber>123456789</RoutingNumber>
</PayerInfo>
<PaymentInfo>
<Amount>500.00</Amount>
<Currency>USD</Currency>
<DueDate>2024-10-01</DueDate>
<InvoiceRef>INV-1001</InvoiceRef>
</PaymentInfo>
</ReqForPaymt>
</Document>
2. Access Your Bank’s Dashboard
Once you have prepared your CSV or XML RfP file, log in to your bank’s dashboard where you can upload the batch file.
a) Log in to Your Bank’s Portal:
- Use your credentials to access the bank’s platform.
b) Navigate to the Batch Upload Section:
- Locate the section that supports RfP
batch upload. It might be listed under:
- Payments
- FedNow Requests
- Real-Time Payments
Each bank might have different naming conventions, but look for terms like Request for Payment, Batch Upload, or File Import.
3. Upload the RfP File
a) Select File Upload Option:
- If the bank allows for CSV or XML uploads, select the file upload option.
b) Choose File for Upload:
- Click the Browse or Choose File button to select the CSV or XML file you’ve prepared.
c) Review and Confirm:
- The dashboard might display a preview of the file to confirm that the data is correct.
- Review the payment details to ensure all fields are accurate (amounts, account numbers, etc.).
d) Submit:
- After reviewing the batch file, click the Submit or Upload button to initiate the real-time payment process.
4. Bank Validation Process
Once the file is uploaded, your bank’s system will validate the RfP file. This includes:
- Checking the file structure (if it's properly formatted for XML, CSV, or ISO 20022).
- Validating payer and payee information (account numbers, routing numbers).
- Ensuring the amounts and currency formats are correct.
If the validation passes, the payment requests will be processed.
5. Monitor Payment Status
Once the file has been submitted and processed:
- FedNow and RTP provide real-time payment confirmation, ensuring the funds are transferred instantly between the payer and payee banks.
- You can monitor the status of each RfP via your bank’s dashboard.
Look for status updates such as:
- Approved
- Pending
- Rejected
Rejected payments will usually provide an error code or explanation, such as incorrect payer details or insufficient funds.
6. Reconcile Payments
After the payments are processed:
- Use your bank’s reconciliation tools to match the received payments with your invoices.
- Update your accounting system (e.g., QuickBooks) to mark the invoices as paid.
7. Troubleshooting and Error Handling
In case of errors during the batch upload or processing:
- Review the error messages provided by the bank.
- Common issues might include incorrect account or routing numbers, invalid file formats, or missing mandatory fields.
- Correct the errors in the CSV or XML file and re-upload the batch.
Example Workflow for Uploading via Dashboard:
- Prepare the RfP File (CSV or XML).
- Log in to the bank’s dashboard.
- Navigate to the Batch Upload section.
- Select Upload and choose the file from your system.
- Review the file contents.
- Submit for processing.
- Monitor real-time status via the dashboard.
- Reconcile payments in your accounting system.
Automating the Process with Bank APIs
If your bank supports API-based RfP uploads, you can automate the batch import process. Here’s an example using Python to submit XML files via the bank’s API:
python
import requests
# API endpoint for batch upload
url = "https://api.bank.com/fednow/rfp/batchupload"
headers = {
"Authorization": "Bearer your_access_token",
"Content-Type": "application/xml"
}
# Load the XML file and submit the batch
with open('rfp_batch.xml', 'r') as xml_file:
rfp_data = xml_file.read()
response = requests.post(url, headers=headers, data=rfp_data)
if response.status_code == 200:
print("Batch uploaded successfully")
else:
print(f"Error: {response.status_code}, {response.text}")
This method can be particularly useful for large volumes of payment requests, allowing you to automate and streamline the RfP submission process.
Key Considerations:
- File Format: Ensure that the file adheres to the bank’s specific format requirements (ISO 20022, CSV, XML).
- Data Accuracy: Double-check the payer and payee information to avoid processing delays or rejections.
- Compliance: Ensure all transactions meet regulatory requirements (e.g., KYC, AML).
- Batch Limits: Some banks may have limits on the size of batch uploads (number of RfPs or total file size). Verify any restrictions before preparing large batches.
Conclusion
By following these steps, you can efficiently batch import Request for Payment (RfP) files into your bank’s dashboard using formats like CSV, XML, or ISO 20022 for real-time payment processing via FedNow or Instant RTP. This process enables you to handle payments quickly, accurately, and in real time, improving cash flow and automating your financial operations.
Creation Request for Payment Bank File
Call us, the .csv and or .xml FedNow or Request for Payment (RfP) file you need while on your 1st phone call! We guarantee our reports work to your Bank and Credit Union. We were years ahead of competitors recognizing the benefits of RequestForPayment.com. We are not a Bank. Our function as a role as an "Accounting System" in Open Banking with Real-Time Payments to work with Billers to create the Request for Payment to upload the Biller's Bank online platform. U.S. Companies need help to learn the RfP message delivering their bank. Today Payments' ISO 20022 Payment Initiation (PAIN .013) shows how to implement Create Real-Time Payments Request for Payment File up front delivering a message from the Creditor (Payee) to it's bank. Most banks (FIs) will deliver the message Import and Batch files for their company depositors for both FedNow and Real-Time Payments (RtP). Once uploaded correctly, the Creditor's (Payee's) bank continues through a "Payment Hub", will be the RtP Hub will be The Clearing House, with messaging to the Debtor's (Payer's) bank.
... easily create Real-Time Payments RfP files. No risk. Test with your bank and delete "test" files before APPROVAL on your Bank's Online Payments Platform.
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and Real-Time Payments funding. Our business clients receive faster
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Dedicated to providing superior customer service and
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1) Free ISO 20022 Request for Payment File Formats, for FedNow and Real-Time Payments (The Clearing House) .pdf for you manually create "Mandatory" (Mandatory data for completed file) fields, start at page 4, with "yellow" highlighting. $0.0 + No Support
2) We create .csv or .xml formatting using your Bank or Credit Union. If Merchants has created an existing A/R file, we CLEAN, FORMAT to FEDNOW or Real-Time Payments into CSV or XML. Create Multiple Templates. You can upload or "key data" into our software for File Creation of "Mandatory" general file.
Fees = $57 monthly, including Activation, Support Fees and Batch Fee, Monthly Fee, User Fee, Additional Payment Method on "Hosted Payment Page" (Request for file with an HTML link per transaction to "Hosted Payment Page" with ancillary payment methods of FedNow, RTP, ACH, Cards and many more!) + $.03 per Transaction + 1% percentage on gross dollar file,
3) Payer Routing Transit and Deposit Account Number is NOT required to import with your bank. We add your URI for each separate Payer transaction.
Fees Above 2) plus $29 monthly additional QuickBooks Online "QBO" formatting, and "Hosted Payment Page" and WYSIWYG
4) Above 3) plus Create "Total" (over 600 Mandatory, Conditional & Optional fields of all ISO 20022 Pain .013) Price on quote.
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1. Worksheet Automatically Aging for Requests for Payments and Explanations
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