WIRE Payment Lifecycle

Execution Life Cycle of WIRE Outgoing Payment

Status	Explanation
DRAFT →EXECUTION_FAILURE	When a user clicks on submit, if the transfer request is invalid, then the transfer will be rejected. When this happens, the status would change from DRAFT to EXECUTION_FAILURE. Reasons for Invalid requests can be: Insufficient funds, transfer limit exceeded, the client has been blocked, etc.
DRAFT → AML_SCREENING	After a user submits the transfer request, if the transfer request is valid, then the transfer will go through AML screening. When the transfer goes for AML screening, the status would be from DRAFT to AML_SCREENING.
AML_SCREENING → AML_REJECTED	During AML screening ( when the status is AML_SCREENING ), if the transfer has any objections, i.e., if the transfer fails any of the AML checks such as OFAC, Limits, recipient check, or Manual review(a mbanq compliance member will manually check the transfer) then the transfer would be rejected. All transfers rejected by AML will get the status AML_REJECTED.
AML_SCREENING → EXECUTION_PROCESSING	If there are no objections raised by the system during the AML check, then the transfer status will change from AML_SCREENING to EXECUTION_PROCESSING, which means that the clearing house is processing the transfer request.
EXECUTION_PROCESSING →EXECUTION_SUCCESS	If the transfer is processed, then the status will change to EXECUTION_SUCCESS from EXECUTION_PROCESSING.
EXECUTION_PROCESSING →COMPLIANCE_FAILURE	If the sponsor bank rejects the transfer, then the status will change to COMPLIANCE_FAILURE from EXECUTION_PROCESSING.
EXECUTION_SUCCESS→ RETURNED	If the transfer is being returned, then the status will change to RETURNED from EXECUTION_SUCCESS.

Execution Life Cycle of WIRE Incoming Payment

Status	Explanation
AML_SCREENING → EXECUTION_FAILURE	When an incoming wire request is invalid, then the transfer would be rejected and the status would change to EXECUTION_FAILURE. Reasons for rejection can be: The account has been blocked, or the account doesn't exist (incorrect account number), etc.
EXECUTION_FAILURE→ RETURNED	After getting rejected(EXECUTION_FAILURE) the transfer would be returned to the source and the status would be RETURNED.
AML_SCREENING → EXECUTION_SUCCESS	If the incoming request is valid, then the transfer will go through AML check, during AML check if there are no objections to the transfer, then the status will change to EXECUTION_SUCCESS, and the user's account will be credited.
AML_REJECTED → RETURNED	During the AML check, if there are any objections to the transfer, then the transfer will be rejected. If the transfer is rejected, the amount will be returned to the source. Then the status would change from AML_REJECTED to RETURNED.