Web EFT Retirement Update
The previously announced Web EFT retirement date of this Nov. 15 is fast approaching. Firms are advised to start their transition to the API platform immediately if they haven’t done so already. Firms that have not begun transitioning their automated processes to APIs by Nov. 15 will no longer be able to access Web EFT after that date. However, for firms actively working to migrate to APIs, the migration schedule will be adjusted.
In response to feedback received from multiple firms indicating the need for additional time to complete the required development to fully onboard to the API platform, FINRA will keep Web EFT available for firms that are actively working to transition to the API platform until April 30, 2025. Firms that have started their transition to APIs and have set up accounts in the FINRA API Platform production and the Integration/QA environments by Nov. 15, will continue to have access to Web EFT until April 30, 2025. All Web EFT functionality will continue to be available for these firms through the extended date, and this extended access is covered by each firm’s monthly API subscription fee.
The updated date of April 30, 2025, is three years from when FINRA initially announced that Web EFT will be sunset. This new date will allow migrating firms more time to operate both systems in parallel to ensure a smooth transition.
Firms that have not set up API accounts in the Production and QA/Integrations environments and/or started using APIs in production will no longer have access to Web EFT as of this Nov. 16.
Additionally, after Nov. 15:
- The [email protected] email box will no longer be supported or monitored. All inquiries—both for Web EFT and API—should be directed to [email protected].
- The concept of Web EFT contacts will also be retired. Additional information about the future API communication strategy will be shared in the coming months.
- No new Web EFT subscriptions or modifications to existing Web EFT subscriptions will be allowed.