CBPR+ (ISO 20022)
PAYMENTS SIGNAL · REFERENCE CARDISO 20022 cover payment (pacs.008 + pacs.009 COV)
The instruction reaches the creditor agent directly as a pacs.008 while the funds travel the correspondent route as a pacs.009 COV. The two must meet and match before the payee is paid.
Actors
- Debtor (payer)customer
- Bank Alfa (debtor agent)bank
- Meridian Bank (correspondent)bank
- Cassia Bank (creditor agent)bank
- Creditor (payee)customer
Messages
- pain.001
- pacs.008
- pacs.009 COV
The sequence
| # | Step | Route | Kind |
|---|---|---|---|
| 1 | pain.001 — The debtor initiates the cross-border payment | Debtor → Bank Alfa | message |
| 2 | Validate & debit — Bank Alfa validates, screens, and debits | Bank Alfa | internal |
| 3 | pacs.008 — The pacs.008 goes directly to Cassia | Bank Alfa → Cassia | message |
| 4 | pacs.009 COV — The cover transfer goes to the correspondent | Bank Alfa → Meridian | message |
| 5 | Book transfer — Meridian settles the cover across its books | Meridian | settlement |
| 6 | Cover on nostro — Cassia sees the cover arrive on its nostro | Cassia | internal |
| 7 | Match pacs.008 ↔ cover — Cassia matches the instruction against the cover | Cassia | internal |
| 8 | CR creditor — The creditor is credited | Cassia | posting |
Exception rails
| Rail | Trigger | Where the money ends up | Next action |
|---|---|---|---|
| Cover missing or mismatched | Cassia holds a pacs.008 announcing USD 1,250,000.00 — but no matching cover has arrived on its nostro. | Debited from the customer on day one; the creditor was credited only after the cover was repaired. · The cover settled late; the direct pacs.008 was never money, only information. | Bank Alfa — Bank Alfa reviews why the rejected cover sat unnoticed in the repair queue. |