Confirmation of Funds – Y/N Response
User Journey
Payments networks primarily operate under two different business models that can apply to CBPIIs.
CEG Checklist Requirements A
Confirmation of Funds Request CBPII must only generate a confirmation of funds request if the payer has initiated a payment transaction for the amount in question using the issued card based payment instrument.
CEG Checklist Requirements A Open Loop
Confirmation of Funds Request CBPII must only generate a confirmation of funds request if the payer has initiated a payment transaction for the amount in question using the issued card based payment instrument.
CEG Checklist Requirements B
Confirmation of Funds Response In response to the CoF request, the ASPSP must provide a Yes/No Answer as a CoF response. This must include: a Yes/No response that funds in the funding payment account checked are sufficient to cover a transaction of the specified amount. a unique CoF response identifier. This is unique within the ASPSPs environment. A CBPII has no real use for this identifier however it is provided in order to have the ability of a full trace for audit purposes. This could also include the date and time the CoF response was created.
CEG Checklist Requirements B
Confirmation of Funds Response In response to the CoF request, the ASPSP must provide a Yes/No Answer as a CoF response. This must include: a Yes/No response that funds in the funding payment account checked are sufficient to cover a transaction of the specified amount. a unique CoF response identifier. This is unique within the ASPSPs environment. A CBPII has no real use for this identifier however it is provided in order to have the ability of a full trace for audit purposes. This could also include the date and time the CoF response was created.
CEG Checklist Requirements & Customer Experience Considerations






