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.

POST /v2/transfers/create

Parameter NameParameter TypeExample Value
currencyForm DataEUR
source_account_idForm Dataaea097c2-39e4-49b5-aaa6-c860ca55ca0b
destination_account_idForm Data22ed17b5-b90c-424e-aa78-d24928b1778e
reasonForm Datafunds movement
amount Form Data1000.00
X-Auth-Token Header ea6d13c7bc50feb46cf978d137bc01a2

    "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.