Funds Transferred PADs
The Payments Canada transaction type 650 must be used for all funds transfer electronic transactions.
The Payments Canada code 650 – Inter-FI Funds Transfer Debit (no recourse provided) can only be used by Payments Canada Members (such as: financial institutions, life insurance companies with an assigned Payments Canada number, etc.). The payer and payee is the same individual, and this code is only for Debit Transactions to consumers' accounts.
The Payments Canada code 650 is a "restricted" code, requiring authorization from RBC Royal Bank before it can be used.
For Funds Transfer PADs with recourse, use the appropriate Payments Canada Transactions codes from the list that is available for PADs (i.e. "260 to 272", or "330 to 449").
Refer to the Payments Canada Rule H1, Pre-Authorized Debits for all the requirements associated with all the above type of transactions.
The Transaction Codes contains a list of all Payments Canada Transactions codes that are available to be used with each type of ACH Direct Payments & Deposits. It also provides a list of Restricted and Non-Restricted Payments Canada codes.