Transactions overview
A Transaction represents one or more fund movements between instruments.
Transactions require at least one instrumentInstrument A financial product owned by an Identity. There are two types: Managed Accounts (stored-value accounts that hold balances and can receive wire transfers) and Managed Cards (prepaid cards - virtual or physical - used for purchases). and can start in Weavr or in an external system.
Weavr supports the following transactions:
Internal transfers
Move funds between two instruments inside Weavr.
Learn moreSend transfers
Send funds from one Weavr user to another.
Learn moreCard purchases
Spend on a managed card at a merchant.
Learn moreIncoming wire transfers
Receive funds from an external bank into a managed account.
Learn moreOutgoing wire transfers
Send funds from a managed account to an external bank.
Learn moreQuick reference by direction
Pick the transaction type based on where funds are moving.
| Direction | Transaction type | Use it to |
|---|---|---|
| Money in | Incoming wire transfers | Receive funds from an external bank into a managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. |
| Money in | Sends (as destination) | Receive funds from another Weavr identity into one of your instrumentsInstrument A financial product owned by an Identity. There are two types: Managed Accounts (stored-value accounts that hold balances and can receive wire transfers) and Managed Cards (prepaid cards - virtual or physical - used for purchases). |
| Money out | Outgoing wire transfers | Send funds from a managed accountManaged Account An account held at a financial institution that can be created and managed through the Weavr platform. Each account has a balance where customers can hold funds. Optionally, an IBAN can be assigned to enable wire transfers to bank accounts outside of Weavr. to an external bank |
| Money out | Sends (as source) | Send funds from your instrumentInstrument A financial product owned by an Identity. There are two types: Managed Accounts (stored-value accounts that hold balances and can receive wire transfers) and Managed Cards (prepaid cards - virtual or physical - used for purchases). to another Weavr identity |
| Internal | Transfers | Move funds between two of your own instrumentsInstrument A financial product owned by an Identity. There are two types: Managed Accounts (stored-value accounts that hold balances and can receive wire transfers) and Managed Cards (prepaid cards - virtual or physical - used for purchases). inside Weavr |
| Card spend | Purchases | Spend on a managed cardManaged Card A payment card (virtual or physical) that can be created and managed through the Weavr platform. Cards can operate in prepaid mode (with their own balance) or debit mode (linked to a managed account). All cards must be assigned to a card assignee who is an Authorised User. at a merchant |
Transaction states
A transaction can transition into multiple states during its lifetime, until it reaches a final state. Each transaction type has its own states which reflect the stages required to complete the transaction.
In the card statement and account statement, you get all transaction stages which have a balance movement and involve the instrumentInstrument A financial product owned by an Identity. There are two types: Managed Accounts (stored-value accounts that hold balances and can receive wire transfers) and Managed Cards (prepaid cards - virtual or physical - used for purchases). for which the statement is being retrieved. Each stage is represented as a statement entry and has a PENDING or COMPLETED state.