Incoming Wires exceed Limits


What happens if I expect a wire above the limits?

When Synapse receives an incoming wire that is over the agreed upon limits in your spec sheet, the wire will be queued by default.

Unless we receive notice otherwise, we will cancel the transaction by the following morning (typically starting around 7AM PT).

How do I request to settle this incoming wire?

The best way to prevent incoming transactions from being cancelled is to ensure your controls have the necessary limits for your use-case. For one-off exceptions, please notify our support team that an incoming transaction needs to be settled (see contact info below). It's important to note that, as with any manual process, there is a risk that we do not receive notice in time or the transaction is otherwise canceled, so this workflow should be the exception, not the norm.

Contact:

  • Phone: +1(415)688-2943
  • Email:   To: help@synapsefi.com
                 Cc: wires@synapsefi.com
                 Subject: ATTN Wire Desk: Settle Incoming Wire for User ID XXXXXXXX

Please Include:

  • User ID
  • Node ID
  • Expected Deposit Date
  • Amount
  • Purpose of Transaction (and reason for exceeding limits)

Upon review, we also have the right to request enhanced due diligence. 

 

Prior to using this workflow, confirm the use-case is contemplated on your spec sheet

If your business has a potential use-case for this workflow, please alert our team so we can denote this on your spec sheet. If it is not already accounted for on your spec sheet we may not be able to honor the manual request to settle the transaction.

Have more questions? Submit a request

Comments