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 thetransferAmount. - The
destinationBeneficiaryobject, 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 abeneficiaryIdthat holds thebankAccountDetailswhere funds should be deposited. - The
profileIdneeds 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.
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 States | Description |
|---|---|
| INVALID | The wire transfer has failed initial validation checks. |
| PENDING_CONFIRMATION | The wire transfer requires confirmation of the CoP results before it can proceed to the SCA challenge. |
| PENDING_CHALLENGE | The wire transfer requires the completion of a transaction confirmation challenge before it can be submitted. |
| SUBMITTED | The wire transfer has been submitted to the sending financial institution for processing. |
| REJECTED | The wire transfer that was submitted was rejected. |
| APPROVED | The wire transfer that was submitted has been approved and is being processed by the sending financial institution. |
| FAILED | There was an issue with the wire transfer, and the transaction has failed. |
| COMPLETED | The requested funds have been sent from the source instrument. |
| RETURNED | The wire transfer has been returned to the sender. |
| SCHEDULED | The wire transfer will be executed at the scheduled time. |
| CANCELLED | The scheduled wire transfer has been cancelled. |
Outgoing Wire Transfers as Bulk Operations
OWTs can be created in bulk following the the same process as as other bulk operations, and are executed via the Bulk Process. The OWTs still require a transaction confirmation but they can be grouped together and verified in a single action. See the Bulk Process and specifically Bulk Processing Operations that require a Transaction Confirmation.
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.
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:
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 Authentication (SCA), therefore, once a transaction has been submitted, you need to confirm it. Follow this link for more information on how to confirm transactions.