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Create Outgoing Wire Transfers

Create a Single Outgoing Wire Transfer

To create a single outgoing wire transfer transaction you must provide:

  • The sourceInstrument (the instrument from which you are taking funds) and the transferAmount.
  • The destinationBeneficiary object, you need to specify the details of the beneficiary (the recipient of the funds). When specifying the beneficiary details you need to provide either the full beneficiary bank details or else a beneficiaryId that holds the bankAccountDetails where funds should be deposited.
  • The profileId needs to be specified, this determines the end-customer fees for this transaction. You can find more information on how to earn revenue from your customers in the outgoing wire transfer fees guide.
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For the Outgoing Wire Transfer to be processed the end user who is in session in your application and initiated the OWT, needs to perform a successful Transaction Confirmation challenge. The challenges /multi/challenges/otp/{channel} endpoint can be used to verify a single OWT, or multiple OWTs at the same time, by providing the OWT ID(s) in the resourceIds field. This endpoint should be used in favour of the deprecated endpoint that can only be used for single OWTs.

Retrieve the Status of an Outgoing Wire Transfer

Outgoing wire transfer (OWT) requests are immediately passed through an automated process, and executed as soon as possible if all checks pass. The OWT will pass through a number of states during the cycle of OWT creation, challenge verification, and eventual success (or failure). These are described below, and you can retrieve the status via the API, or via the Outgoing Wire Transfers webhook.

OWT StatesDescription
INVALIDThe wire transfer has failed initial validation checks.
PENDING_CHALLENGEThe wire transfer requires the completion of a transaction confirmation challenge before it can be submitted.
SUBMITTEDThe wire transfer has been submitted to the sending financial institution for processing.
REJECTEDThe wire transfer that was submitted was rejected.
APPROVEDThe wire transfer that was submitted has been approved and is being processed by the sending financial institution.
FAILEDThere was an issue with the wire transfer, and the transaction has failed.
COMPLETEDThe requested funds have been sent from the source instrument.
RETURNEDThe wire transfer has been returned to the sender.
SCHEDULEDThe wire transfer will be executed at the scheduled time.
CANCELLEDThe scheduled wire transfer has been cancelled.

Create a Bulk with Outgoing Wire Transfers

To create a bulk with outgoing wire transfers you must provide the required information as specified for a single outgoing wire transfer and use the create a bulk outgoing wire transfer API.

This API will give you the ability to create multiple OWT requests with one single API call.

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A bulk can contain no more then 1,000 transactions. If you have a bulk that contains more then 1,000 transactions you will have to create another bulk transaction.

Once a bulk is submitted, you will receive a response with success or failure. If the transactions is successful, you will receive the owt_id and a webhook with the state of the transaction.

Once all checks have been completed the transactions will start executing. When a transaction is executed, you will receive a webhook accordingly.

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Note that even if the transaction is created successfully, you still need to check its state in order to determine if it is pending a challenge by the user. For an Outgoing Wire Transfer to be processed the end user who is in session in your application and initiated the OWT, needs to perform a successful Transaction Confirmation challenge. The challenges /multi/challenges/otp/{channel} endpoint can be used to verify a single OWT, or multiple OWTs at the same time, by providing the OWT ID(s) in the resourceIds field.

Schedule Outgoing Wire Transfers

Single and bulk outgoing wire transfers can be scheduled to be executed on a future date & time. With every transaction request, you can optionally specify a scheduledTimestamp which contains the date & time in UTC of when the transaction should be executed. Once a transaction is scheduled, and all validations are confirmed, you will receive a webhook with the state of the transaction being Scheduled.

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Scheduled transactions can be confirmed at any point before their scheduledTimestamp. For an Outgoing Wire Transfer to be processed the end user who is in session in your application and initiated the OWT, needs to perform a successful Transaction Confirmation challenge. The challenges /multi/challenges/otp/{channel} endpoint can be used to verify a single OWT, or multiple OWTs at the same time, by providing the OWT ID(s) in the resourceIds field.

Cancel Scheduled Outgoing Wire Transfers

You can cancel scheduled outgoing wire transfers before the execution time has elapsed. To cancel the transaction you must provide the id of the transaction, and add optionally adding a cancelling reason using this endpoint:

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Transactions that are not in state Scheduled cannot be cancelled. Cancelling a scheduled transaction does not require SCA

Transaction Confirmation

As per PSD2 requirements, all transactions need to be confirmed with Strong Customer Authentciation (SCA), therefore, once a transaction has been submitted, you need to confirm it. Follow this link for more information on how to confirm transactions.