Transferring funds between balances

Transfers allow you to manage the movement of funds between the balances of your Currencycloud accounts. You can move funds from your house account to sub-accounts and from sub-account to house account.

In this integration guide, we will cover how to transfer balance from one account to another. Please note that no currency conversion is performed during a transfer, the sending and receiving accounts must therefore hold money in the same currency.

Step 1: Login

Please refer to the Authentication guide for instructions to start a new API session.

Step 2: Check balance

In the Checking you balances guide, we covered how to find out the account balance for a specific currency as well as how to obtain an account balance for each currency you have available.

Before proceeding with a transfer it is worth checking the balances you have available. If there are insufficient funds available on the balance to complete the transfer, the transfer transaction will remain in a 'pending' status until sufficient funds are available.

Step 3: Instruct the transfer

The Create Transfer endpoint allows you to transfer a currency balance from a source account to a destination account.

{
  {
    "id": "883c665f-c8ee-475a-98f1-b88d73bfbf3e",
    "short_reference": "BT-20190301-FFSXLC",
    "source_account_id": "cf28b2d8-5afa-4d7f-9a26-7b45bf616a11",
    "destination_account_id": "22ed17b5-b90c-424e-aa78-d24928b1778e",
    "currency": "GBP",
    "amount": "100.00",
    "status": "pending",
    "reason": null,
    "created_at": "2019-03-01T16:44:30+00:00",
    "updated_at": "2019-03-01T16:44:30+00:00",
    "completed_at": null,
    "creator_account_id": "72970a7c-7921-431c-b95f-3438724ba16f",
    "creator_contact_id": "a66ca63f-e668-47af-8bb9-74363240d781"
  }
}

Step 4: Push notifications

You can ingest transfer push notifications, please refer to our push notifications guide for more details.

Step 5: Confirm transfer completed

You can either call the Get Balance endpoint to confirm that the account has been updated with the correct amount of funds or use the Find Transaction Find Transactions endpoint with an action of 'transfer' to confirm that the instruction has taken place.