Transaction Descriptions in Online Banking

Last updated: April 24, 2026

PayRecs-generated transactions can be customized for presentation in your online banking. Two factors affect the final display:

  • Your transaction code template may prepend an additional prefix that is outside PayRecs' control.

  • Character limits in your online banking and core provider may truncate the description before it reaches the core. If you're unsure of your core's limit, check with your core provider or reach out to PayRecs support.

Description Components

The default description is assembled in this order:

Component

Length

Notes

Prefix

variable

"PayRecs FX Wires" by default; fully customizable

Payment ID

5 chars

Internally generated unique identifier

Separator

" - "

Fixed

Beneficiary amount

up to 12 chars

Amount in recipient's currency; max 999,999,999.00

Beneficiary currency

3 chars

ISO 4217 currency code

Connector

" To "

Fixed

Beneficiary legal name

up to 18 chars

Truncated if longer

Beneficiary bank country

2 chars

ISO 3166-1 alpha-2 country code

Account indicator

5 chars

Asterisk followed by last 4 digits of recipient account

Example

         1         2         3         4         5         6         7
1234567890123456789012345678901234567890123456789012345678901234567890123
PayRecs FX Wires F3G5X - 123456789.00CAD To ABCDEFGHCompanyLLC DE *9012

In this example:

  • Payment ID: F3G5X

  • Amount: 123,456,789.00 CAD

  • Beneficiary: ABCDEFGHCompanyLLC (truncated at 18 characters)

  • Beneficiary bank country: Germany (DE)

  • Account: ending in 9012

Customization

All customization (prefix text, component ordering, separators) is handled by the PayRecs back office at the bank's request. Contact your PayRecs implementation or support team to request changes.