Create a Transfer

Guide for Creating a Transfer

1. Before you can create a transfer, you need to first set up and create an entity and an account. Follow this guide for Multi Currency Account Creation.
2. Setup Webhooks for Transfer
   1. Before sending a transfer, it's best to set up webhook notifications for Transfers. Navigate to createWebhookSubscription to set up webhook notifications for transfers.
3. Create a Beneficiary
   1. For a quick refresher, a beneficiary is an individual or business that you can send money to.
   2. Navigate to beneficiaryRequiredFields and submit a request to get the fields you need to fill out for your beneficiary. beneficiaryRequiredFields takes a bank_country, currency, and beneficiary_country as parameters and returns the fields required to create that beneficiary.
   3. Once you have the required fields, navigate to createBusinessBeneficiary and create your beneficiary. Beneficiaries can take up to 5 minutes to be approved, but usually are instant or near instant.
   4. Once you have a beneficiary that has been approved or has a state of verified, you can create a transfer!
4. Create a Transfer
   1. Navigate to the createTransfer endpoint and create your transfer. You will need:
      • user_id
      • entity_id
      • beneficiary_id
      • purpose_of_payment
   2. After you create the transfer, you have two paths you can take. You can either finalize the transfer finalizeTransfer, which submits it to the Routefusion API to be processed, or you can create a Transfer Quote for the transfer getTransferQuote, and then finalize it.
      1. If you go straight to finalize the transfer, this is good for transfers that are staying in the same currency, such as making an ACH payment where the source_currency and destination_currency are the same, i.e., USD to USD.
      2. If you are making a currency conversion, best practices would be to lock in a rate for the transfer so you can show your users the rate they are getting. If you do not care about displaying the rate to your user, then you can skip that step.
   3. If you decide to create a quote for the transfer, navigate to getTransferQuote and use your transfer_id to create a Quote for the transfer. Once successful, you can now send the payment!
   4. Finally, it's time to send the payment! Navigate to finalizeTransfer and submit it with your transfer ID, and BAM, off to the races.
   5. In the off chance that your transfer goes into compliance review, it is important to note that you can upload supporting documents for that transfer, such as an invoice or purchase order form, etc., here upload-transfer-document.
   6. If you want to understand the states we use for transfers, you can view them here States.

Congratulations on completing your first transfer. Cheers to many more! 🍻🍻🍻

This version should be clearer and more polished for your users.