9 Generic Wires ISO Outbound Cancellation (camt.056)

Defines the process for initiating outbound wire payment cancellations using the ISO 20022 camt.056 message format within the Generic Wires system.

Outbound Cancellation Request

This topic contains the following sub-topics:

• Outbound Cancellation Request
  Outbound Cancellation Request refers to a feature that banks or financial institution to cancel a payment that has already been initiated and is in progress, but has not yet been completed or settled.
• Outbound Cancellation Request Processing
  Outbound Cancellation Request Processing is where the system's handling the requests to cancel payments that have already been initiated and are outbound from the bank.
• Outbound Cancellation Response
  Outbound Cancellation Response is the reply received from the financial institution (FI) in response to an Outbound Cancellation Request.
• Outbound Cancellation Response Processing
  Outbound Cancellation Response Processing refers to the process of handling responses to outbound wire transfer cancellation requests.