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Create and execute OWTs

Create and execute 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). (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.) with 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.

1. Create the OWT and run the CoP check​

Create a 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. using the following endpoint. 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 bankAccountDetails → FasterPaymentBankDetails for a one-time payment:

POST/outgoing_wire_transfersTry it 
{
  "profileId": "string",
  "tag": "string",
  "sourceInstrument": {
    "type": "managed_accounts",
    "id": "string"
  },
  "transferAmount": {
    "currency": "str",
    "amount": 0
  },
  "description": "string",
  "destinationBeneficiary": {
    "name": "string",
    "type": "PERSONAL",
    "address": "string",
    "bankName": "string",
    "bankAddress": "string",
    "bankCountry": "st",
    "bankAccountDetails": {
      "iban": "stringstringstr",
      "bankIdentifierCode": "stringst"
    },
    "nationality": "st",
    "dateOfBirth": "2019-08-24"
  },
  "scheduledTimestamp": "string"
}

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, we automatically run a CoP check to verify the bank account details. 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 updates to PENDING_CONFIRMATION and the CoP result is returned in the response.

The HTTP 200 response from POST /outgoing_wire_transfers, GET /outgoing_wire_transfers/, and GET /outgoing_wire_transfers/{id} includes:

  • state: PENDING_CONFIRMATION.
  • validationOutcomes: an array of CoP check results. Each entry contains:
    • category — value ConfirmationOfPayeeResult.
    • categoryResult.match — one of Match, Close_Match, No_Match.
    • categoryResult.code — one of ANNM, MBAM, BANM, PANM, BAMM, PAMM, AC01, IVCR, ACNS, OPTO, CASS, SCNS. See CoP reason codes for details.
    • categoryResult.accountName — the registered account name (string).
  • destinationInstrument: includes a linkedAccount value when applicable.
tip

When creating an 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. 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 CoP result isn't returned and the confirm step isn't required.

2. Handle the CoP result with the end user​

Display the validationOutcomes result to the end user and offer them the following options:

  • 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 updates to the registered name and the check re-runs.
  • 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. Skip to step 3.
  • 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. Skip to step 4.

To accept the suggested name or enter a new name, use the following endpoint. Both options re-run the CoP check and return updated validationOutcomes:

PATCH/outgoing_wire_transfers/{id}Try it

To accept the suggested name (Close Match only):

{
  "acceptVerifiedName": true
}

To enter a new name:

{
  "name": "Corrected Beneficiary Name"
}

After the check re-runs, return to the start of this step to display the updated result to the end user.

3. Execute the OWT​

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 the following endpoint. 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 changes from PENDING_CONFIRMATION to PENDING_CHALLENGE:

POST/outgoing_wire_transfers/{id}/confirmTry it 
{
  "id": "string",
  "profileId": "string",
  "tag": "string",
  "sourceInstrument": {
    "type": "managed_accounts",
    "id": "string"
  },
  "transferAmount": {
    "currency": "str",
    "amount": 0
  },
  "description": "string",
  "type": "SEPA",
  "destination": {
    "name": "string",
    "type": "PERSONAL",
    "address": "string",
    "bankName": "string",
    "bankAddress": "string",
    "bankCountry": "st",
    "bankAccountDetails": {
      "iban": "stringstringstr",
      "bankIdentifierCode": "stringst"
    },
    "nationality": "st",
    "dateOfBirth": "2019-08-24"
  },
  "state": "INVALID",
  "rejectedInfo": "SYSTEM",
  "challengeExemptionReason": "LOW_VALUE",
  "creationTimestamp": 0,
  "scheduledTimestamp": "string",
  "executionTimestamp": "string",
  "cancellationReason": "string",
  "validationOutcomes": [
    {
      "category": "UK_CONFIRMATION_OF_PAYEE",
      "categoryResult": {
        "match": "EXACT_MATCH",
        "reasonCode": "ANNM",
        "accountName": "string"
      }
    }
  ]
}

Complete the 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. The state then changes from PENDING_CHALLENGE to SUBMITTED.

4. Cancel the OWT (optional)​

If the end user wants to abandon the process, use the following endpoint:

POST/outgoing_wire_transfers/{id}/cancelTry it 
{
  "cancellationReason": "string"
}

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, letting you react asynchronously when an 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 awaiting confirmation.