Original publication date: August 25, 2020
Question:
Does the beneficiary code "D" work for sub-accounts?
What are the other scenarios where we would use other beneficiary codes?
Answer:
D is relevant to checking or savings deposit accounts. If the sub-accounts are deposit sub-accounts, you can use D for receiving wires.
If you want to send out wires to a sub-account or any other account type in another financial institution, you need to know the sender's account type and use that code.
For more information, see: https://crossriver.zendesk.com/hc/en-us/articles/360052681094-benificiaryId-code