Advanced Wire Topics
On-Demand - AAP Credits 1.4
This course builds upon the knowledge acquired in Essentials of Wires and examines payments message structure and decisions that participants need to make when using Fedwire of CHIPS. Comparisons are made between the field tags each system uses, the identifying information necessary for each party and other information identified within the field tags. The 2009 cover payments format changes are discussed, as well as the November 2011 remittance format changes for both Fedwire and CHIPS.