ACH
This is what the "Plus" stands for in ACH+
What is checks?
We also do checkbooks! This is different from the Lob checks generated through the Send Money flow.
This payment rail produces a pair of identifiers to memoize the transaction, known as an IMAD and an OMAD
What is "Domestic Wires"?
This third-party service is what we somewhat begrudgingly do all actual reconciliations in.
What is Blackline?
The ledger team owns this payment rail end to end
What is book transfers?
What is the default payment method for a new recipient?
What is undefined/no default?
Every ACH transaction has TWO of these: one generated internally by Mercury, and one assigned and overwritten by the partner bank. The partner bank's version ends up in transaction_metadata.tracking_id
What is trace number?
Why it matters: When debugging ACH issues with partner banks, they refer to the partner-bank trace number. Mercury generates an internal one first, then it gets replaced.
This payment rail has more than one underlying network/protocol for completing its payments
What is "International Wires"?
This is the process which is supposed to ensure everything Mercury does can be reconciled.
What is recon review?
This table has the most references of any table the Ledger team owns, for better or for worse.
What is Transaction Metadata?
Which partner bank allows RTPs?
What is Column?
This is the current maximum transaction amount for a Same Day ACH payment (as of now), with a scheduled increase to $10M in September 2027
What is $1 Million dollars
Why it matters: This limit is why many larger vendor payments still require wires. The upcoming 2027 change will open same day ACH to a new category of payments currently requiring wires.
This is currently the only partner bank that we support wire drawdowns for.
What is Choice?
Almost all recon code is under this namespace.
What is Raccoon?
The Ledger team has been building a new ledger alongside the old one, running them in parallel without changing any customer-facing behavior. This technique is called what?
What is Shadow Mode?
What do bill pay payments have that other send money payments do not have?
What is an attachment/invoice?
When Mercury sends money from a customer's account to an external bank account via ACH, this is the term for that type of ACH transaction from Mercury's internal code perspective
What is an Endogenous ACH?
Why it matters: The endogenous/exogenous distinction is core to Mercury's transaction architecture. Endogenous = initiated by Mercury/user. Exogenous = arrives from outside.
This form of bank to bank communication is commonly used for wire return requests, requests for information, and payment confirmations.
What are service messages?
This is where the majority of recon's logic will soon™ live.
What is recon-dbt (or snowflake)?
Mercury historians know this four-letter acronym as the original name of today's Ledger team
What is POPL?
People Owning Product Launches
What are queued payments missing?
What is recipient bank account details?
WIP:!!!
This electronic network is operated primarily by the Federal Reserve and is used to transfer funds directly between bank accounts.
What is Automated Clearing house?
managed by NACHA
This payment rail naturally supports "returning" outbound payments on this rail
What is "neither"? (haha got em)
This is the protocol recon relies on to send data to our matching engine
What is sftp?
This engineer is listed first on Mercury’s patent application for our DEL system
Hint: initials are SP
Who is Sam Protas?
True or false: we use separate endpoints for scheduled and one-time payments?
What is false?