Create and execute OWTs

Outgoing Wire TransfersWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP). (OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication.) Creation and Execution Flow

1. To create an Outgoing Wire TransferWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP)., use the existing endpoint POST /outgoing_wire_transfers. This endpoint supports both SEPA (Euro) and FPS (GBP) transfers.

   • You can initiate the transfer using a Linked AccountLinked Account An entity in the Weavr system that represents an external bank account or payment service provider (PSP) account which an Identity has verified they own and control. This feature enables users to perform transactions, such as outgoing and incoming wire transfers, between their Linked Accounts and their Managed Accounts as 'self-to-self' transfers. ID, BeneficiaryBeneficiary A trusted recipient for payments that includes both information about the business or individual as well as their bank account or instrument details. When using trusted beneficiaries, customers may be allowed to skip Strong Customer Authentication (SCA) when executing Outgoing Wire Transfer or Send transactions, reducing the number of approval steps required. ID, or by providing bank account details for a one-time payment.

2. After the OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. is created, Weavr automatically performs a Confirmation of PayeeConfirmation of Payee A service that automatically verifies bank account details when creating payment runs or outgoing wire transfers. For GBP payments, CoP checks return results showing Exact Match, Close Match, or No Match, including reason codes and additional information to help verify the payee details are correct. (CoP) check to verify the bank account details.

Faster Payment only

The CoP check only impacts GBP OWTsOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. sent via Faster Payments (within the UK) and does not impact the SEPA OWTsOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication..

3. Weavr returns the CoP result, including reason codes and additional information, and the OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. state is updated to PENDING_CONFIRMATION.

4. In response to the POST /outgoing_wire_transfers request, you receive an object called validationOutcomes containing the results of the CoP check.

5. Taking the CoP result into account, you (as the EmbedderEmbedder A company or developer that integrates Weavr's embedded finance services into their own application to provide financial services to their end customers.) can decide whether to allow your end user to proceed with the execution of the OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication..

6. Display the CoP result to the end user and give them the option to:

   • Accept the suggested name — for Close Match results where actualName is returned, the beneficiaryBeneficiary A trusted recipient for payments that includes both information about the business or individual as well as their bank account or instrument details. When using trusted beneficiaries, customers may be allowed to skip Strong Customer Authentication (SCA) when executing Outgoing Wire Transfer or Send transactions, reducing the number of approval steps required. name is updated to the registered name the check is re-run.
   • Enter a new name — correct the beneficiaryBeneficiary A trusted recipient for payments that includes both information about the business or individual as well as their bank account or instrument details. When using trusted beneficiaries, customers may be allowed to skip Strong Customer Authentication (SCA) when executing Outgoing Wire Transfer or Send transactions, reducing the number of approval steps required. name and re-run the CoP check.
   • Proceed with the OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. — confirm using the name as entered.
   • Cancel the OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. — abandon the payment.

7. To accept the suggested name or enter a new name, use PATCH /outgoing_wire_transfers/{id}.

   To accept the suggested name (Close Match only):

   {
     "acceptVerifiedName": true
   }

   To enter a new name:

   {
     "name": "Corrected Beneficiary Name"
   }

   Both options re-run the CoP check and return updated validationOutcomes. Return to step 6 to display the new result to the end user.

8. To confirm and proceed with the OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication., use POST /outgoing_wire_transfers/{id}/confirm. The OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. state then changes from PENDING_CONFIRMATION to PENDING_CHALLENGE.

9. Complete SCASCA Strong Customer Authentication - a two-factor authentication solution required by PSD2 regulations for when end-users are accessing their payment account sensitive information or initiating transactions. SCA requires at least two of the following: something you know (password), something you have (device), or something you are (biometrics). challenge and the OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. is sent for execution. After that OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. state changes from PENDING_CHALLENGE to SUBMITTED.

10. If the end user wants to cancel or abandon the process, use POST /outgoing_wire_transfers/{id}/cancel

tip

When creating an Outgoing Wire TransferWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP). using a Linked AccountLinked Account An entity in the Weavr system that represents an external bank account or payment service provider (PSP) account which an Identity has verified they own and control. This feature enables users to perform transactions, such as outgoing and incoming wire transfers, between their Linked Accounts and their Managed Accounts as 'self-to-self' transfers. ID, a Confirmation of PayeeConfirmation of Payee A service that automatically verifies bank account details when creating payment runs or outgoing wire transfers. For GBP payments, CoP checks return results showing Exact Match, Close Match, or No Match, including reason codes and additional information to help verify the payee details are correct. result is not returned, and the additional step to Confirm the OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. is not required.

OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. API Endpoints

In the HTTP 200 response of the endpoints:

• POST /outgoing_wire_transfers/
• GET /outgoing_wire_transfers/
• GET /outgoing_wire_transfers/{id}

The following fields are provided in the response payload:

1. A state PENDING_CONFIRMATION. Outgoing wire transfersWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP). created via BeneficiaryId or bankAccountDetails → FasterPaymentBankDetails executed over Faster Payments (Payments in GBP) are automatically set in the state PENDING_CONFIRMATION.

2. A new array of objects validationOutcomes . The validationOutcomes array includes the following objects:

   • category: value ConfirmationOfPayeeResult.
   • categoryResult:
     • match - one of Enum: Match, Close_Match, No_Match.
     • code - one of Enum: ANNM, MBAM, BANM, PANM, BAMM, PAMM, AC01, IVCR, ACNS, OPTO, CASS, SCNS. Check CoP Reason codes for more details.
     • accountName - string.

3. A new object destinationInstrument with a value linkedAccount.

OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. API actions

To confirm an outgoing wire transferWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP). over Faster Payments:

POST/outgoing_wire_transfers/{id}/confirmTry it

To cancel an outgoing wire transferWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP).:

POST/outgoing_wire_transfers/{id}/cancelTry it

To accept a suggested name or enter a new name (both re-run the CoP check):

PATCH/outgoing_wire_transfers/{id}Try it

OWTOWT Outgoing Wire Transfer - a transaction that moves funds from a Weavr managed account to a bank account held at a third-party financial institution. OWTs require the managed account to have an assigned IBAN and the user to complete Strong Customer Authentication. Webhook Event

The outgoing wire transferWire Transfer A transaction that moves funds between accounts. An incoming wire transfer moves funds from a third-party bank account to a Weavr managed account, while an outgoing wire transfer moves funds from a Weavr managed account to a third-party bank account. Wire transfers require the managed account to have an assigned IBAN (for EUR) or sort code and account number (for GBP). webhook includes the eventType PENDING_CONFIRMATION in its payload.