Domestic Payments

CBC reduces manual steps through structured data entry, fast dual-approval workflows, and centralized payment management, helping teams process transactions more quickly and with fewer errors.

All domestic wire payments processed through PCBB are automatically screened against OFAC requirements, helping institutions meet regulatory obligations without additional manual intervention.

PCBB supports dual custody approvals, ensuring that multiple authorized users review and approve transactions before release.

PCBB supports a wide range of ACH transactions such as International ACH Transaction, including direct deposits, recurring payments, account transfers, and business payments.

No, both ACH and wire payments are managed within the CBC platform, allowing institutions to streamline operations and reduce reliance on multiple providers.

PCBB operates nationwide from 8:30 a.m. to 8:00 p.m. Eastern Time, offering extended cut-off times compared to many providers to support later-day transaction processing.

Yes, PCBB can serve as a secondary or backup wire-processing channel, helping institutions maintain continuity if their primary provider becomes unavailable.

PCBB combines correspondent banking expertise with a unified platform, offering extended processing hours, integrated compliance screening, reduced manual workflows, and solutions tailored specifically for community financial institutions.

ISO 20022 is a global standard for electronic data interchange between financial institutions. It provides a common platform for the development of messages using XML syntax, facilitating efficient and accurate communication in financial services.

ISO 20022 standardizes financial messaging, leading to better interoperability, efficiency, and data quality. This helps reduce errors, lower costs, and enhance the overall speed of transactions.

• Richer Data: The ISO 20022 format contains structured fields for longer names and specific address components, reducing data loss risk and enhancing regulatory screening.
• Domestic and Cross-Border Interoperability: A common format for domestic and global transactions using a single standard reduces costs and improves accuracy and straight-through processing.
• Improved Processes and New Services: Moving to a global format can reduce market practice inconsistencies, advance remittance information capabilities, and support value-added services like payment tracking.

PCBB’s customers benefit from richer, more structured payment data that improves accuracy, reduces repair and investigation needs, and supports stronger compliance and screening. The standardized ISO 20022 format also enables faster, more automated processing and better interoperability with other financial institutions, which can lead to quicker settlements, improved liquidity management, and more insightful reporting and analytics for treasury and finance teams.

Yes. PCBB adopted ISO® 20022 standard and, as of June 21, 2024, was certified by the Federal Reserve Bank as ISO 20022 compliant. This certification was achieved roughly nine months ahead of the Federal Reserve’s July 14, 2025, deadline and one-day cutover date, giving our customers confidence that our systems have been operating on the new standard well before it became mandatory.

With ISO 20022, customers can take advantage of enhanced remittance and reference information, improved payment tracking and status updates, and more precise use of purpose and category codes. Over time, the richer data will support additional value-added services, such as more granular reporting, better integration with ERP and treasury systems, and new tools that use structured payment information to streamline back-office workflows and decision-making.

Institutions can reach out to PCBB directly or access more information and technical details on the ISO 20022 website and Federal Reserve’s Fedwire® Funds Service ISO 20022 Implementation Center. In addition, PCBB has various resources available.